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MidOcean Partners Agrees to Sell Prestige Brands To GTCH Golder Rauner

New York, NY . February 12, 2004 - MidOcean Partners Agrees to Sell Prestige Brands To GTCR Golder Rauner.

MidOcean Partners, a New York-based private investment firm, today announced the signing of a definitive agreement pursuant to which an affiliate of GTCR Golder Rauner LLC, one of the nation’s leading private equity firms. will acquire Prestige Brands from MidOcean.

Prestige Brands is a leading consumer products company with a portfolio of well recognized and trusted brands in the household cleaning, over-the-counter drug and personal care categories whose brands include Comet, Clear Eyes, Murine, Chloraseptic and Prell. Prestige Brands is a platform company built by MidOcean and its partners, Provender, Jefferson Capital, Swander Pace and Peak Capital, beginning in 1999 with the original acquisition of Prell from Procter & Gamble.

Rick Braddock, Chairman of MidOcean and a Director of Prestige, said, “Prestige Brands was predicated on the strategy of building a portfolio of healthy brands through a series of strategic acquisitions. These brands are in millions of households throughout the country and the current portfolio is very well positioned to succeed. Thanks to the hard work and dedication of Prestige’s employees, led by Ted Host and Elise Donahue, to successfully reposition the brands in the marketplace, Prestige has been an excellent investment for our ?rm.” “We have greatly valued our relationship with MidOcean and the ?nancial and strategic support they provided as we delivered on our strategy,” said Mr. Host, of Prestige. “We look forward to working with the team at GTCR and believe that we will benefit from this new partnership.”

Goldman Sachs was the sell aide M&A advisor and Hunton & Williams was the legal advisor to Prestige.

About Prestige Brands
Prestige Brands is a leading consumer products company with a portfolio of well-recognized and trusted brands in the household cleaning, over-the-counter drug and personal care categories. The company was established in 1999 to acquire and revitalize leading hut neglected brands being divested by major consumer product companies. The company’s portfolio of leading brands include Comet cleaning products, Clear Eyes personal eye care products, Murine personal ear and eye care products, Chloraseptic sore throat and oral anesthetic products and Prell Shampoo.

About MidOcean Partners
MidOcean Partners is a New York and London based private equity firm that invests in “stable growth middle market companies in the United States and Europe. MidOcean was formed as an independent entity by the managers of DB Capital Partners, Deuteche Bank’s private equity group, to acquire Deutsche Bank’s late stage private equity investments in the United States and Europe.


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