RADNOR, Pa., Nov. 6, 2024 /PRNewswire/ — Avantor, Inc. (NYSE: AVTR), a leading global provider of mission-critical products and services to customers in the life sciences and advanced technology industries, announced that the Avantor Board of Directors has appointed Dame Louise Makin, DBE, Ph.D., as a director with an initial term expiring at Avantor’s 2025 Annual Meeting of Stockholders. The appointment of Dame Louise as an independent director fills a vacant board seat.

Dame Louise brings a wealth of leadership and industry experience to the Avantor Board. She served as Chief Executive Officer of BTG plc, an international specialist healthcare company, for 15 years and led their transformation through organic growth and acquisitions. The company was acquired by Boston Scientific in 2019. Earlier in her career, she held several leadership positions at Baxter Healthcare, most recently as President of Biopharmaceuticals Europe.

“Dame Louise has a proven track record of success in the life sciences industry, and we are excited to welcome her to the Avantor Board of Directors,” said Jonathan Peacock, Chairman of the Avantor Board. “Her addition further demonstrates Avantor’s commitment to ensuring we have a diverse Board, with the right mix of skillsets and experience to drive innovation across our portfolio, advance our mission, and create long-term shareholder value.”

“It is an honor to join the Avantor Board of Directors, and I look forward to working closely with the board and executive team to further strengthen the company’s position as a leader in the life sciences and advanced technologies industries,” said Dame Louise. “Avantor’s global reach, innovative products, and services uniquely position it to drive advancements at every stage of the scientific journey and deliver differentiated value to its many stakeholders.”

“Dame Louise is an excellent addition to our Board. I welcome her insights and expertise as we continue to execute our strategic plan to drive long-term growth and value creation,” said Michael Stubblefield, Avantor President and Chief Executive Officer.

Dame Louise currently serves as non-executive chair of the Halma plc Board of Directors and has served as a Non-Executive Director on the Boards of Premier Foods plc, Intertek Group plc, Woodford Patient Capital Trust, Atotech Ltd., and Theramex Ltd. She was also a Trustee of The Outward Bound Trust for 10 years and Chair of the 1851 Trust for five years.

Dame Louise is an Honorary Fellow of St John’s College, Cambridge. She holds both a master’s degree in natural sciences and a Ph.D. in material sciences from the University of Cambridge and earned an MBA from The Open University in Milton Keynes, England. She became a Dame Commander of the Order of the British Empire in 2014.

About Avantor
Avantor® is a leading life science tools company and global provider of mission-critical products and services to the life sciences and advanced technology industries. We work side-by-side with customers at every step of the scientific journey to enable breakthroughs in medicine, healthcare, and technology. Our portfolio is used in virtually every stage of the most important research, development and production activities at more than 300,000 customer locations in 180 countries. For more information, visit avantorsciences.com and find us on LinkedIn, X (Twitter) and Facebook.

Global Media Contact
Eric Van Zanten
Head of External Communications
Avantor
610-529-6219
Eric.VanZanten@avantorsciences.com

Investor Relations Contact
Christina Jones
Vice President, Investor Relations
Avantor
805-617-5297
Christina.Jones@avantorsciences.com

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SOURCE Avantor and Financial News

PHILADELPHIA, Nov. 6, 2024 /PRNewswire/ — Phoenix IB®, a part of J.S. Held, a leading middle market special situations investment bank and independent licensed broker-dealer under federal and state securities law (CRD#: 132710/SEC#: 8-66628), acted as the exclusive investment banker to its long-term client, Spray Products Corporation, in arranging, structuring, and negotiating a $40 million loan package with Legacy Corporate Lending. 

“Phoenix IB is delighted with the credit package we were able to arrange for Spray Products,” noted Michael Jacoby, a Senior Managing Director at Phoenix IB. “Not surprisingly, there was a lot of interest from a variety of lenders, both regulated and non-regulated. The Legacy team spent the time to understand the Company and its business plan, and tailored a solution that fit Spray’s needs and will provide the necessary support for years to come.”

Spray Products is a leading custom contract manufacturer of aerosol and liquid consumer products. Proceeds from the financing will be utilized to refinance the Company’s existing credit facilities and fund additional working capital to finance its continued growth and capital expenditures. Peter Bastian, Executive Vice President of Spray Products LLC, shares, “We could not be more pleased with the closing of our new financing with Legacy Corporate Lending and the guidance we received throughout the transaction from Phoenix IB. The Phoenix team was able to successfully communicate our story, and through our new facility with Legacy, we are confident we have partnered with a firm that shares our values and is excited to support Spray’s next phase of growth.” 

Legacy Corporate Lending LLC, in alliance with Bain Capital Credit, L.P., specializes in providing revolving credit facilities and term loans to businesses across diverse industries. The firm aims to facilitate access to capital for companies seeking alternatives to traditional bank lending or the syndicated lending market.

“We were extremely impressed with the refinancing process that Phoenix IB led for Spray Products,” said Clark Griffith, CEO of Legacy Corporate Lending, LLC. “The professionalism and fairness shown by Steven Warsaw, Michael Jacoby, and the team was refreshing to experience and appreciated in this competitive market. Our process was easy to navigate given the quality of the information, their responsiveness to questions, and the approach they took in understanding the best borrower/lender fit.”

Doug Greer, Spray Products Chief Financial Officer, adds, “Michael Jacoby, Steven Warsaw, and their team spent considerable time to understand the intricacies of our business and worked closely with us to develop a financing structure that meets our needs for the next several years. We believe that we will continue to see the benefits of their collaboration with our business well beyond our engagement.”

Across a broad spectrum of client types, from start-ups in an early stage with exciting growth potential to a mature company amid a corporate turnaround, Phoenix IB capital raising services are designed to provide tailored financing solutions across the capital structure, particularly for clients faced with complex growth or funding situations. “At Phoenix IB, every transaction we close reflects our precision, perseverance, and partnership with our clients,” shares Phoenix IB Managing Director Steven C. Warsaw. Mr. Warsaw continues, “The robust interest in financing Spray Products created a highly competitive process, and we are very pleased to have selected the loan package provided by Legacy, which we feel is best positioned to provide needed flexibility as Spray facilitates its next chapter of growth.”

About Phoenix IB

Phoenix IB is a boutique, special situations-oriented investment bank providing seamless investment banking solutions, including M&A advisory, complex restructurings, and capital placements. Phoenix IB is a US registered broker-dealer and member of FINRA and SIPC.

As a part of J.S. Held, Phoenix works alongside more than 1500 professionals globally and assists clients – corporations, insurers, law firms, governments, and institutional investors.

J.S. Held is a global consulting firm that combines technical, scientific, financial, and strategic expertise to advise clients seeking to realize value and mitigate risk. Our professionals serve as trusted advisors to organizations facing high-stakes events demanding urgent attention, staunch integrity, clear-cut analysis, and an understanding of both tangible and intangible assets. The firm provides a comprehensive suite of services, products, and data that enable clients to navigate complex, contentious, and often catastrophic situations.

J.S. Held professionals serve organizations across six continents, including 81% of the Global 200 Law Firms, 70% of the Forbes Top 20 Insurance Companies (85% of the NAIC Top 50 Property & Casualty Insurers), and 65% of the Fortune 100 Companies.

J.S. Held, its affiliates and subsidiaries are not certified public accounting firm(s) and do not provide audit, attest, or any other public accounting services. J.S. Held, its affiliates and subsidiaries are not law firms and do not provide legal advice. Securities offered through PM Securities, LLC, d/b/a Phoenix IB, a part of J.S. Held, member FINRA/ SIPC or Ocean Tomo Investment Group, LLC, a part of J.S. Held, member FINRA/ SIPC. All rights reserved.

Media Contact

Kristi L. Stathis, J.S. Held, +1 773 294 4360, Kristi.Stathis@jsheld.com, JSHeld.com

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SOURCE Phoenix IB, a part of J.S. Held

PHILADELPHIA, Nov. 6, 2024 /PRNewswire/ — Grovara, the safe, all-in-one platform streamlining global trade for the Business-to-Business (B2B) Consumer Packaged Goods (CPG) industry, is expanding the offerings on its online marketplace beyond food and beverage beginning with the rapidly growing eyewear market.

The global eyewear market is projected to grow by more than 18% through 2029, presenting a tremendous growth opportunity via higher margins and increasing online sales. Grovara is now selling Popticals, collapsible sunglasses for active lifestyles featuring Italian craftsmanship and superior lens technology. In the coming weeks there are plans to add additional eyewear brands, which can now tap Grovara’s technology to simplify their typical sales transaction from three weeks to three clicks. 

“The potential for Grovara’s platform is infinite, and expanding into the eyewear vertical is a great step forward as we ramp up and evolve our SaaS technology offering,” says Grovara CEO Peter Groverman. “Whether you’re selling a kombucha or carousel of sunglasses, the transaction process is the same and Grovara’s platform handles the full process.”

Popticals deliver an unequaled combination of quality, performance, and convenience. The brand boasts an innovative nylon-based lens technology, plus a patented micro-rail system that allows its glasses to collapse down for uniquely easy storage.

“We are excited to join Grovara’s growing platform and bring our unique product within the premium sunglasses market to a global audience,” says Gary DiSalvo, Owner and CEO of Popticals. “This partnership allows us to share our commitment to quality and innovation with more people. Additionally, it aligns with Grovara’s mission of making high-quality, complementary products easily accessible to businesses around the world.”

Over the last decade, Grovara has become a leader in the natural food and beverage sector by growing the global profile of some of the most well-known brands in the world – like GT’s Kombucha, True Citrus, and Honey Stinger — and helping them break into new markets. Grovara’s expansion into other complementary verticals will include 10 new product categories over the next 12 months, including beauty, pets, home goods, and alcohol.

Grovara’s CPG expansion is powered by its partnership with Accelerate360, an omni-commerce sales, media, and distribution company that propels promising brands by supercharging affinity and availability. Accelerate360 recently launched 50 models of premium reader eyeglasses on Grovara with many more categories and brands on the way.

“We are excited to partner with Grovara as they establish new product categories and provide expanded opportunities for entrepreneurs and challenger brands” says Accelerate360’s Sam Roberts, VP of eCommerce – Pure Play & Omni-Channel Retail.

Those CPG brands interested in joining Grovara’s platform can reach out for a demo of its SaaS technology here.

Contact:
J.A. Petrucci
215-203-2227
385927@email4pr.com

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SOURCE Grovara