Lowenstein represented Progressive Products, LLC (d/b/a WipesPlus®) in its sale to CFS Brands, LLC, a portfolio company of The Jordan Company. Alantra, a leading global investment bank and asset management firm, acted as sole financial advisor to Progressive Products on the transaction, which closed on December 31, 2021.
Headquartered in Rye Brook, New York, WipesPlus® is a leading provider of EPA- and FDA-compliant branded, premoistened and dry wipes and accessories used in a variety of food service, fitness, education, healthcare and janitorial/sanitorial applications. The company’s complete range of wipes and dispensers are used for all applications including cleaning, disinfecting, sanitizing, food contact and personal hygiene. WipesPlus® has established partnerships with large corporations and distribution partners across the U.S. to design and provide customized wet wipes solutions.
CFS Brands is a U.S.-based manufacturer of products for the foodservice, healthcare and janitorial markets. WipesPlus will remain a standalone entity within the CFS Brands portfolio.
The transaction terms were not disclosed.
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