Premier, Intarome and Fragrance Solutions join forces with strategic investment from The Riverside Company and Tap Bertrand Lemont as CEO
MIDDLESEX, NJ – (COMMERCIAL THREAD) – Premier Specialties, Inc. (Premier), Intarome Fragrance Corporation (Intarome) and Fragrance Solutions Corporation (Fragrance Solutions) announced their merger and received an investment from The Riverside Company. The new combined business creates a disruptive new mid-market fragrance house based on decades of experience from three well-respected separate companies.
“I am proud to partner with both Fragrance Solutions and Intarome, as well as Riverside, which has an incredible track record of building businesses like ours,” said Premier Founder Roger Rich. “Riverside has already proven its commitment to helping us reach new heights, and with their continued support, we will create a world-class fragrance house with market-leading capabilities.
Wealthy and other members of collective management teams will continue to be important leaders and shareholders of the company.
“Each of these companies shares the same entrepreneurial, customer-centric mindset that has created close, long-standing relationships with those we serve,” said Daniel Funsch, CEO of Intarome. “This will continue to be the main tenant of our collective enterprise in the future. ”
“Not only am I excited about the future of the platform, but I’m also excited for our customers, many of whom have been with us from the start,” said Fragrance Solutions President John Yorey. “With additional resources and capital, along with a larger pool of high-quality talent, we’ll be able to serve our clients better… and faster. In addition to being a key shareholder, Yorey will be director of sales for the new organization.
Riverside funding will be used to support investments in technology, product development and customer service, as well as to pursue strategic complementary acquisitions.
“We are thrilled with the opportunity to partner with these three special ventures,” said Loren Schlachet, Managing Partner of Riverside. “We plan to invest significantly in the platform through acquisitions, as well as organic growth initiatives, ensuring that we are the absolute best home possible for emerging brands.”
Bertrand Lemont has been chosen to lead the combined business as CEO. Lemont has over 25 years of experience in the fragrance and beauty industry, having previously served as President of Drom Fragrances USA and in leadership roles at Givaudan and International Flavors and Fragrances (IFF).
“I am honored and excited to lead this new platform through a new phase of growth,” said Lemont. “As a new organization with substantial financial backing, we will be able to deliver the best capabilities and superior creativity, while remaining committed to the unmatched agility our customers have come to expect. ”
“We couldn’t be happier to have an industry veteran like Bertrand at the helm of this rapidly evolving platform. The organization will certainly benefit from his leadership, wealth of knowledge and ambition, ”said Alan Peyrat, Senior Partner at Riverside.
About Premier Specialties, Inc.
Founded in 1998, Premier is a formulator of natural, organic and sustainable fragrance and cosmetic ingredients based in Middlesex, NJ. The company applies a holistic and transparent approach to sourcing, research and development that results in new products that meet evolving customer and consumer demands.
About Intarome Fragrance Corporation
Founded in 1969, Intarome is a custom fragrance formulator offering proprietary formulations with fast turnaround times. The company focuses on assisting customers in the creative development of formulations and is an active partner in monitoring market trends. Intarome’s business model is based on tailor-made customer service, quality, responsiveness with lead times as short as 2 to 5 days and flexibility for small and large batches.
About Fragrance Solutions Corporation
Founded in 2011, Fragrance Solutions delivers world-class fragrance creation with an emphasis on personal attention, responsive customer service and value. The company works in collaboration with customers to develop iconic fragrances that are remembered.
About The Riverside Company
The Riverside Company is a global private equity firm focused on investing in growing businesses valued up to $ 400 million. Since its founding in 1988, Riverside has made over 800 investments. The company’s international private equity and structured capital portfolios include more than 140 companies.