Carlyle Group Nears Sale of 49% Stake in PurposeBuilt Brands

(Bloomberg) -- Carlyle Group Inc. is nearing a deal to sell a roughly 49% stake in PurposeBuilt Brands, an owner of specialty cleaning and disinfection products, according to people with knowledge of the matter.

Private equity firm Rock Mountain Capital LP, led by managing partner David Stonehill, an alumni of Carlyle, is acquiring Carlyle’s stake, said the people, who requested anonymity discussing talks that aren’t public. The transaction values the company at about $1.6 billion including debt, they added.

Rock Mountain and Carlyle spokespeople declined to comment.

PurposeBuilt’s brands -- used in residences and commercial locations such as hospitals, garages and food-service venues -- include Green Gobbler, Weiman, Gonzo Natural Magic, Goo Gone, Magic, Biokleen and Wright’s. 

The company experienced an acceleration in demand for consumer products during the Covid-19 pandemic, it said in a January filing in which it outlined plans for an initial public offering. PurposeBuilt’s plans pivoted away from a public listing, Bloomberg News reported last month. TA Associates is also invested in the company.

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