Navigation Capital Partners has hired Steve Contardi and John Ausura as executives-in-residence. They will lead the firm's search for a contract manufacturing company for green cleaning products to use as a platform for future acquisitions in the sector. Navigation Capital approaches attractive industries by first finding experienced leadership within the industry and then acquiring the right company as a team. The firm believes that the green cleaning industry is poised for significant growth and cites Mintel's forecast of a ten-fold increase by 2013.
The green cleaning products sector has only seen one other private equity investment, Triton Pacific Capital Partners' 2001 growth investment in Earthstone International. The cleaning supplies sector in general has also not seen much PE activity, with only 23 companies receiving investments, according to the PitchBook Platform. The largest deal in the sector was GTCR Golder Rauner's $550 million secondary buyout of Prestige Brands from an investor group led by MidOcean Partners. Prestige Brands has also accounted for two of the 17 buyouts with add-on acquisitions of Comet and Spic and Span.