Premier Specialties, Inc. (Premier), Intarome Fragrance Corporation (Intarome), and Fragrance Solutions Corporation (Fragrance Solutions) have merged and received an investment from The Riverside Company.
WHO: Established in 1998, Premier is a formulator of fragrances and natural, organic, and sustainable cosmetic ingredients based in Middlesex, NJ. The company applies a holistic and transparent approach to sourcing, research, and development that results in novel products that meet the demands of customers and the ever-changing consumer.
Established in 1969, Intarome is a formulator of customized fragrances delivering proprietary formulations with rapid turnaround times. The company is focused on assisting customers in the creative development of formulations and is an active partner in monitoring market trends. Intarome's business model is based on bespoke customer service, quality, responsiveness with lead times as short as 2-5 days, and flexibility for small and large batches.
Established in 2011, Fragrance Solutions offers world-class fragrance creation with an emphasis on personal attention, responsive customer service, and value. The company works collaboratively with customers to develop signature fragrances.
The Riverside Company is a global private equity firm focused on investing in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has made more than 800 investments. The firm's international private equity and structured capital portfolios include more than 140 companies.
WHY: The new combined business creates a disruptive new fragrance house in the middle market founded upon decades of experience from three separate well-respected companies.
IN THEIR OWN WORDS: "I am proud to be partnering with both Fragrance Solutions and Intarome, as well as Riverside, who has an incredible track record for scaling businesses like ours," said Premier's Founder Roger Rich. "Riverside has already proven their commitment to helping us reach new heights, and with their continued support, we'll create a world class fragrance house with market-leading capabilities."
“Each of these businesses share the same entrepreneurial, customer-first mindset, which has created longstanding, tight-knit relationships with those we serve," said Intarome's CEO Daniel Funsch. "This will continue to be the core [tenet] of our collective business long into the future.”
"Not only am I excited about the future of the platform, but I'm excited for our customers, many of whom have been with us since the beginning," said Fragrance Solutions' President John Yorey. "With incremental resources and capital, as well as a deeper bench of high-quality talent, we'll be able to service our customers better…and faster." In addition to being a key shareholder, Yorey will be a sales executive for the new organization.
“We are thrilled about the opportunity to partner with these three special businesses," said Riverside Managing Partner Loren Schlachet. "We plan to invest meaningfully in the platform through acquisitions, as well as organic growth initiatives, ensuring we're the absolute best home possible for emerging brands.”
- The collective management teams will continue to be executives and meaningful shareholders of the company.
- Bertrand Lemont has been tapped to lead the combined business as Chief Executive Officer. Lemont has more than 25 years of experience in the fragrance and beauty industry, previously serving as president of Drom Fragrances USA and holding executive positions at Givaudan and International Flavors and Fragrances (IFF).
- Riverside's financing will be used to support investments in technology, product development, and customer service, as well as pursuing strategic add-on acquisitions.
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