Date Closed

December 21, 2018

Lead Office

Montréal

A group of investors led by Cornell Capital LLC, including HarbourVest Partners, LLC, partnered with Knowlton Development Corporation ("KDC"), a leading value-added partner to beauty, health and personal care brands, and its existing management to position the company for its next leg of growth in the context of the exit of KDC shareholder Novacap. Caisse de dépôt et placement du Québec and Investissement Québec, long-time shareholders of KDC, rolled-over a significant stake as part of this transaction.

KDC is a Quebec-based manufacturer of health and beauty-care products. KDC has 10 operating facilities located throughout North America.

Cornell Capital, LLC is a US-based private investment firm. Cornell Capital has offices in both New York and Hong Kong and focuses on investments in the consumer, industrial/ business services and financial services sectors.

McCarthy Tétrault LLP advised members of the senior executive management team of KDC on the transaction with a team led by Patrick M. Shea that included Angelo Discepola and Diana Theophilopoulos.