Frontenac Completes Sale of Liquid Technologies

Chicago, IL – December 17, 2019

Frontenac, a Chicago-based private equity firm, today announced that it has completed the sale of Liquid Technologies, Inc. (“Liquid Technologies,” “LTI” or the “Company”), a leading contract formulator and manufacturer of personal care products, to PLZ Aeroscience Corporation (“PLZ”). Terms of the transaction were not disclosed.

Founded in 1998 and headquartered in Chino, California, Liquid Technologies is a leading contract formulator and manufacturer of high-end professional hair and skin care products. The Company offers fully customizable, turn-key solutions with capabilities including product development, formulation, manufacturing, filling and packaging. LTI is a strategic partner to its clients providing best-in-class resources across ideation, research and development, and marketing and sales. The Company’s customers range from small growth-oriented startup brands and salons to established mid-sized brands.

“We enjoyed strong growth during Frontenac’s ownership as we executed a number of key initiatives that expanded the Company’s production capabilities and customer base,” said Steve Dickstein, CEO of LTI. “In PLZ, we have found a future partner who will continue to support our growth and with whom we have a great strategic fit.”

Ron Kuehl, Managing Director of Frontenac, said, “Partnering with growth-focused, founder-owned businesses is a core pillar of our strategy and we are delighted by the successful partnership we forged with Liquid Technologies.”

Neal Sahney, Vice President of Frontenac, added, “During our ownership, we invested in the successful implementation of numerous growth initiatives and unlocked significant value through operational improvements. The Company doubled in size in under four years and is positioned for continued growth under new ownership and leadership from PLZ.”

SunTrust Robinson Humphrey acted as financial advisor to Liquid Technologies with respect to the transaction. Katten Muchin Rosenman LLP served as legal counsel to the Company.

About Liquid Technologies

Founded in 1998 and headquartered in Chino, California, Liquid Technologies is a leading contract formulator and manufacturer of high-end professional hair and skin care products. The Company offers fully customizable, turn-key solutions with capabilities including product development, formulation, manufacturing, filling and packaging. LTI is a strategic partner to its clients providing best-in-class resources across ideation, research and development, and marketing and sales. The Company’s customers range from small growth-oriented start-up brands and salons to established mid-sized brands. For more information, visit www.liquidtek.com.

About Frontenac

Frontenac is a leading private equity firm, based in Chicago. The firm focuses on investing in lower middle market buyout transactions in the consumer, industrial, and services industries. Frontenac works in partnership with proven operating leaders, through our executive-centric approach called CEO1ST, to identify, acquire, and build market leading companies through transformational acquisitions and operational excellence. The firm has built a leading franchise working with over 275 owners of mid-sized businesses, almost always families or founders, as they address complex transition issues of liquidity, management enhancement, and growth planning. For more information, please visit www.frontenac.com.

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We invest in high quality companies, primarily in the food, industrial and services industries. We work with business owners, almost always families, founders or entrepreneurs, as they address complex transition issues of liquidity, management enhancement and growth planning.

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