Intrepid Investment Bankers, a leading middle-market investment bank and the advisory arm of MUFG, a global financial group, announced today that it acted as the exclusive financial advisor to Diamond Wipes International, Inc. (“Diamond Wipes”), a portfolio company of Nolan Capital, Inc. (“Nolan Capital”), on its sale to River Associates Investments (“River Associates”).
Diamond Wipes: A Best-In-Class Beauty and Personal Care Contract Manufacturing Platform
Headquartered in Chino, California, Diamond Wipes is a leading manufacturer of wet wipe and liquid-fill products serving a diverse customer base across attractive end markets, including personal care, cosmetic, household, sanitizing, disinfecting, and healthcare. Since its acquisition by Nolan Capital in 2016, Diamond Wipes has established a differentiated position in the wet wipes industry through its product development and formulation expertise, U.S.-based national manufacturing footprint, and customer-centric service model.
Diamond Wipes is recognized for its ability to support customers from concept through commercialization, providing high-quality contract manufacturing, and private label solutions to both emerging and established brands seeking a value-added development partner.
The Next Chapter: Partnership With River Associates
The partnership with River Associates positions Diamond Wipes to build on its established platform, continue investing in its capabilities, and pursue additional organic growth opportunities and strategic acquisitions. River Associates’ experience partnering with growing lower middle market businesses is expected to support Diamond Wipes’ next phase of development while maintaining the service orientation and product quality that customers value.
“We are excited to welcome Diamond Wipes to the River Associates portfolio,” said Ken Trent, Principal of River Associates. “Over more than three decades, Diamond Wipes has earned an outstanding reputation for quality, innovation, and customer service, supported by a talented team and versatile manufacturing operations in California and Wisconsin. We look forward to partnering with management to build on that foundation and accelerate Diamond Wipes’ next chapter, both organically and through strategic acquisitions.”
From the Client
“Intrepid was a trusted advisor throughout the process,” said Steve Gallo, CEO of Diamond Wipes. “Their team brought thoughtful guidance, strong process execution, and a clear understanding of our business and market. We appreciate their partnership and support in helping us complete this transaction, and we are excited about the opportunities ahead in partnership with the River Associates team.”
Intrepid’s Role in Facilitating Diamond Wipes’ Partnership with River Associates
“Diamond Wipes has developed into a scaled, differentiated platform with deep product development expertise, strong manufacturing capabilities, and a service model that resonates with customers,” said Jeremiah Mann, Managing Director and Head of Industrials & Business Services at Intrepid. “We are proud to have worked with the Diamond Wipes and Nolan Capital teams on this transaction and are excited to see Diamond Wipes continue its impressive growth.”