Houlihan Lokey Advises Thinkbaby and Thinksport

Houlihan Lokey is pleased to announce that Think Operations (dba Thinkbaby and Thinksport), a rapidly growing innovator of clean, non-toxic, and efficacious sun care and personal care products, has been acquired by Topix Brands, a portfolio company of New Mountain Capital.

Founded in 2007 by entrepreneur Kevin Brodwick, Think Operations, marketing under the Thinkbaby and Thinksport brands, is a leading innovator in the usage of safe, non-toxic materials for sun care, personal care, and other consumer products. With a focus on its award-winning mineral sun care line, including a decade of being a No. 1 rated EWG sunscreen, Think’s commitment to scientific rigor and clean formulations provides consumers with results-driven products that they can trust to be effective, healthy, and affordable. Thinkbaby and Thinksport can be found online and across leading national retailers, including Amazon, Whole Foods, Sprouts, Target, CVS, REI, and many more.

Topix is the independent leader in professional and natural consumer skincare with a differentiated portfolio of clinically proven products and brands sold across high-growth channels. Through its professional skincare segment, Topix develops and sells both custom brands, created in partnership with leading dermatologists and sold through professional channels, as well as clinical, consumer-facing brands such as ClarityRx, Replenix, and Dr. Zenovia Skincare. Topix’s family of consumer brands include Derma E, the fastest growing skincare brand in the natural channel, and Think, the leader in safe and clean sun care.

New Mountain Capital is a New York–based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity, and credit funds with more than $25 billion in assets under management. New Mountain seeks out what it believes to be the highest-quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies.

Houlihan Lokey served as the exclusive financial advisor to Think Operations and assisted in structuring and negotiating the transaction on its behalf. This transaction underscores Houlihan Lokey’s deep expertise in natural and better-for-you consumer products, following the recent sale of SmartyPants to Unilever and Zarbee’s to Johnson & Johnson. The transaction also strengthens the firm's track record of working with the most innovative and disruptive brands in the "mom and baby" space.