CCMP fully exits Jamieson with closing of secondary offering

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By Ted Liu

Jamieson Wellness Inc. (TSX: JWEL) and CCMP Capital Advisors, LP have completed previously announced secondary offering by CCMP Capital Investors III (AV-3), L.P. and CCMP Capital Investors III (AV-3 Employee), L.P. and Dr. Louis Aronne of 14,778,751 common shares at $18.50 per share for total gross proceeds of $273,406,893.50.

The secondary offering includes 1,758,751 shares which were sold to the underwriters by CCMP upon the exercise in full of the over-allotment option that had been granted to the underwriters by the CCMP.

Jamieson Wellness did not receive any proceeds from the secondary offering.

Immediately prior to the closing of the offering, CCMP owned an aggregate of 14,758,751 common shares representing an approximate 37.3% equity interest. After giving effect to the closing of the offering, CCMP now own 0% of the common shares.

CCMP has received $580 million in aggregate gross proceeds from the proceeds of the initial public offering and secondary offering.

CCMP acquired Jamieson from founder Eric Margolis for $307.5 million in January 2014. CCMP has since made two add-on acquisitions including the acquisition of Lorna Vanderhaeghe Health Solutions Inc. for $25.3 million in June 2014 and Body Plus Nutritional Products Inc. and affiliate Sonoma Nutraceuticals Inc. from Norm Danniels for $91 million in January 2017.

photo credit: Jamieson