Sole Source Capital LLC, an industrial-focused private equity firm, has purchased Westwood Laboratories, a contract manufacturer of consumer products in the beauty, personal care, pet and over-the-counter drug end markets.
Headquartered in Azusa, Calif., Westwood offers formulation design, research and development, compounding, filling, packaging, overwrapping and bagging. Westwood focuses on liquids, creams, gels and pastes that are packaged in a variety of formats. The deal marks Sole Source Capital’s first investment in the contract manufacturing industry.
“The company employs an impressive formulary team of industry veterans with decades of experience in developing cutting-edge products,” comments David Fredston, founder and CEO of Sole Source Capital. “Additionally, we believe the contract manufacturing industry has been exhibiting strong secular tailwinds – offering significant growth potential for the company – and are excited to be entering this expanding space.”