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Strength Capital Completes Sale of Smith Mountain Industries, Inc.

 

Birmingham-based Strength Capital Partners, LLC is pleased to announce the sale of Smith Mountain Industries, Inc. to Newell Brands (NYSE: NWL).  Newell Brands is the parent company of Yankee Candle®, the market leader in mass premium scented candles.

Smith Mountain Industries manufactures and markets home fragrance products including candles, reed diffusers, wax melts, and other accessories.  The Company’s products are primary sold under the WoodWick® brand.  WoodWick® candles are unique given their use of wooden wick technology as opposed to conventional cotton wicks.  WoodWick® is the market leader in wooden wick technology and has grown to be the #2 competitor in mass premium candles behind only Yankee Candle®.

Strength Capital acquired Smith Mountain Industries in 2007.  Strength’s original investment thesis was centered on expanding distribution of the WoodWick® brand.  WoodWick® was primarily sold in the United States prior to Strength’s ownership.  During the hold period distribution was expanded internationally. Today, WoodWick® products are sold in major markets around the world including Europe, Asia, Australia, and Africa. 

Additional information can be found in Newell’s press release included in the below link.

Click here to view Newell’s press release

 
Evan Husted