Date of Investment
In September 2004, Dubilier & Co. and management acquired Berlin Industries, Inc. (Berlin) from a trust held by absentee owners. In 2000, new management re-energized Berlin, which was founded in 1984.
Berlin’s main product is Zim’s Crack Crème, which provides relief to people with painfully dry and cracked skin. The Zim’s brand promotes healing through active ingredients derived from myrcia oil and arnica extract. Made from a flower named “Arnica montana,” arnica extract is a medicinal compound of European origin that has long been renowned for its topical healing qualities. The Zim brand has a strong retail presence, with placement in more than 30,000 stores nationwide, concentrated in drug chains and the mass channel. Recent product-line introductions include Max-Freeze, a topical analgesic and Matura-Care, a line of products addressing adult incontinence.
Berlin offers an attractive platform for growth in its segments through line extensions and broadening market channels. This strategy for growth is well aligned with management’s expertise. Berlin attracted a significant amount of interest from other private equity firms. Based upon the success other private equity investors have enjoyed in the skin-care segment, we believe that Berlin will be an attractive acquisition candidate to industry leaders.