Centre Partners Purchases Taylor Precision Products
June 12, 2012,
NEW YORK-Private equity firm Centre Partners has acquired Taylor Precision Products from HoMedics. Taylor markets kitchen scales, thermometers and timers, bath scales and outdoor weather measurement products under such owned and licensed brand names as Taylor, HoMedics and Salter.
Centre operating partner Rob Kay has been named executive chairman of Taylor, joining the current team led by Don Robinson. Kay is the former executive chairman of Kaz, Inc., a home environment appliances manufacturer of that was previously a Centre Partners portfolio company.
"We are pleased to invest in Taylor and to establish the business as an independent company," said Bruce Pollack, a managing partner of Centre Partners. In addition, "we are excited to partner again with Rob Kay who has a successful track record of building businesses in the consumer products sector. Rob's expertise will complement that of Don Robinson and Taylor's talented management team."
Kay added, "I am proud to have another opportunity to lead a Centre Partners company. The acquisition of Taylor is a unique opportunity to buy and build a leading company in the branded consumer products sector, where we have considerable prior experience and success. Taylor has a number of well-established brands in its portfolio and is well-positioned as a platform for growth through organic initiatives and acquisitions."
Robinson said, "We're extremely pleased to be a part of the Centre Partners team and to work alongside Rob Kay. Centre's expertise and support, combined with Rob's operational experience, will be very valuable as we grow our business."