INW: Innovations in Nutrition + Wellness
INW: Innovations in Nutrition + Wellness (“INW” ), headquartered in Dallas, Texas, is a leader in custom R&D, manufacturing and marketing support solutions for global brands that serve the fast-growing nutrition and wellness industry. The company is a turnkey service provider of a range of differentiated products, including powders, liquids, capsules and tablets, gels, food bars, creams and lotions. With manufacturing operations across four states, the Company provides over 250 customers in North America and globally with comprehensive capabilities that extend from product development and innovation, ingredient sourcing, custom formulation and manufacturing, to packaging, logistics and scientific support. Simultaneous with the acquisition of INW through a leveraged buyout in March 2021, Cornell Capital and affiliates acquired Bee Health, a UK based leading developer and manufacturer of nutritional supplements.
Through the combined acquisition of trustaff Management, Inc., CardioSolution, Fastaff Travel Nursing® and U.S. Nursing Corporation® with technology platform Stella.ai, Inc. (collectively “Ingenovis Health”), Cornell Capital and affiliates have created a leading player in the contingent healthcare staffing space with expertise in travel nurse staffing, rapid response staffing, strike preparedness and other healthcare related job action services. The addition of Stella.ai, a data-driven online marketplace for employers and jobseekers, will allow Ingenovis to create an industry-first technology platform that leverages data science and automation to accelerate growth. Cornell Capital’s investment closed in February and March 2021.
Vault, headquartered in St. Petersburg, Florida, is a fast-growing provider of personal insurance for successful individuals and families. Launched in October 2017, Vault offers a modern insurance experience that combines an advanced technology platform and personalized concierge service designed to meet the needs of high-net-worth individuals. The Company provides customizable services and policies to insure high-value homes and cars, as well as collections of art, jewelry, wine, antiques and memorabilia. Its insurance offerings are available nationally, distributed through a national network of appointed agents and brokers. Cornell Capital and affiliates led the corporate carve-out of the business from Allied World Assurance Company in March 2021.
Lorom, headquartered in Taipei, Taiwan, is a leading manufacturing solutions provider focusing on specialized cable manufacturing and assembly. Founded in 1988 by a small group of engineers with a focus on research and development, Lorom has grown to approximately 6,000 employees, including more than 500 highly skilled engineers across six factories and six sales offices globally. Lorom’s vertically integrated model enables the company to provide a one-stop shopping platform for unique, proprietary manufacturing products and services to a blue-chip customer base, including Fortune 500 companies across the automotive, industrial, media, technology and medical sectors. Cornell Capital led a minority recapitalization of the Company in September 2019.
Spectrum Automotive Holdings
Founded in 1999 and headquartered in Fairfield, New Jersey, Spectrum Automotive Holdings is a leading agent, marketer and administrator of finance and insurance (“F&I”) products for the U.S. automotive market. Spectrum is the only distribution company in the F&I industry that provides a full suite of proprietary and third-party extended warranty and ancillary products, serving more than 1,400 dealer, administrator and original equipment manufacturer partners. Cornell Capital and affiliates acquired a controlling interest through a leveraged buyout of the company in September 2019.
Citizens Rx, founded in 2009 by industry veterans and based in Oak Park, IL, is a pharmacy benefit management company (“PBM”) focused on reducing drug spend for middle market commercial health plan sponsors. Citizens provides pharmacy claims processing, and clinical and cost management programs. Cornell Capital and affiliates led a minority recapitalization of the Company in February 2019.
Knowlton Development Corporation
Knowlton Development Corporation (“kdc/one”) is a global leader in innovation, formulation, packaging, device design, and manufacturing for beauty, personal care, and home care brands. Since its establishment in 1990, kdc/one has transformed from a single facility manufacturer to a premier global innovation and outsourced manufacturing partner to some of the world’s greatest brands, offering partners the highest quality one-stop solution across all markets and channels. kdc/one now operates 26 state-of-the-art manufacturing facilities, 23 R&D, design, and creative facilities, and 4 innovation hubs globally, serving a broad base of over 700 customers across over 1,000 distinct brands. kdc/one has in excess of 15,000 employees globally with operations in North America, Latin America, Europe and the Asia Pacific Region. Cornell Capital and affiliates led an investor group in a leveraged buyout of the Company, which closed in December 2018. In February 2021, Cornell led a dividend recap of the company.
Blue Mistral (Fekkai Brands and Bastide)
fekkai.com | bastide.com
In November 2018, Cornell Capital partnered with global beauty industry icon Frédéric Fekkai to invest in Frédéric Fekkai Brands and Bastide, two beauty and personal care companies that now comprise Blue Mistral. Mr. Fekkai founded Fekkai Brands nearly 25 years ago as a pioneering brand in high-end hair care that today designs, markets and supplies hair care products and operates six luxury salons. Bastide is a Provence-based provider of luxury fragrances and hand, body and home ambience products that, prior to the investment, had been owned and run by Mr. Fekkai. Proceeds from the investment enabled Mr. Fekkai to buy his namesake brand back from its current owners and combine it with Bastide to reenter the global hair care market with a focus on luxury, high-growth sub-segments. The Company is headquartered in New York City.
PureStar Linen Group
PureStar Linen Group is the only national commercial linen management services provider dedicated to the hospitality industry in the US. PureStar boasts 11 best-in-class brands with 30 full service laundries across 3 countries and 25 U.S. markets. The Company is headquartered in Las Vegas, Nevada. Cornell Capital and affiliates acquired a controlling interest through a leveraged buyout of the company in June 2018.
Talcott Resolution is the U.S. life insurance and annuity business of The Hartford Financial Services Group, Inc., which was placed into run-off in 2012. Its primary blocks of business are variable annuities, fixed annuities, structured settlements and corporate owned life insurance. The Company is headquartered in Windsor, Connecticut. Cornell Capital led a $1.7 billion equity consortium in financing the carve-out, which was completed in May 2018.
Monolith Materials manufactures and markets carbon black, a ubiquitous industrial input to tires, rubbers and plastics. The Company has developed a proprietary process to manufacture carbon black from natural gas, which offers significant cost and environmental savings as compared to the incumbent processes based on oil. The Company is headquartered in Lincoln, Nebraska. Cornell Capital participated in a Series B Preferred round that closed in January 2018, providing growth capital to construct the company’s first commercial facilities.
Instant Brands (formerly known as Corelle Brands) is a global consumer-led, innovation-driven company focused on delighting consumers in their homes. Its well-recognized iconic brands - including Pyrex®, Corelle®, Instant™, CorningWare®, Snapware®, Chicago Cutlery® and Visions® - have been creating connections and memories in the homes of families across the world for over 100 years. The company, headquartered in Downers Grove, Illinois, employs approximately 2,300 people in 21 locations across North America, Europe and Asia. Cornell Capital and affiliates acquired a controlling interest in the company through a leveraged buyout in May 2017, and enhanced the scale and reach of the business through the transformative acquisition of Instant Brands, maker of the best-selling Instant Pot®, in 2019. #InstantBrands #MadeforTogether.
MRC Global (NYSE:MRC) is the world’s largest global distributor of pipe, valves and fittings and related products (as measured by sales) to the energy industry, with longstanding and closely integrated customer relationships each of the upstream, midstream and downstream sectors. The Company is headquartered in Houston, Texas and has operations in all key oil and gas markets worldwide. Cornell Capital invested in the form of 6.50% Series A Convertible Perpetual Preferred Stock to strengthen MRC Global’s balance sheet and enable the Company to capitalize on dislocations created by the energy cycle.