Linden Acquires LifeStyles Healthcare

December 1, 2022 | For Immediate Release

Announces Laurent Faracci as incoming CEO and Linden Operating Partner Ron Fugate as Chairman

Chicago, IL (December 1, 2022) – Linden Capital Partners (“Linden”), a Chicago-based private equity firm focused exclusively on the healthcare industry, announced today the acquisition of LifeStyles Healthcare (“LifeStyles”), a global sexual health and wellness platform, from a consortium of investors including Trustar Capital and Humanwell Healthcare. The LifeStyles investment comes as a result of Linden’s growing consumer healthcare sector effort. As part of the transaction, the Chinese operations of LifeStyles, including the Jissbon brand, will be separated from the parent company and be retained by the selling shareholders.

LifeStyles is a global sexual health and wellness platform offering a broad portfolio of branded condoms, personal lubricants, and other products in over 60 countries. The LifeStyles family of brands includes the leading global non-latex condom brand, SKYN®, along with local brands such as LifeStyles®, Manix®, Unimil®, and Blowtex®.  Outside of branded products, the Company also supports universities, NGOs, and other organizations as part of a broader effort to promote sexual health and prevent the spread of STDs and STIs.  LifeStyles was founded in 1905 by Australia’s Ansell (ASX: ANN), and it was subsequently divested as a stand-alone business in 2017.  LifeStyles owns and operates manufacturing facilities in both Thailand and India, and it employs over 1,600 teammates globally.

Ron Fugate, Linden Operating Partner and new LifeStyles Chairman, said, “the sexual health category is growing in the Company’s primary markets and is increasingly recognized as a core component of healthcare and overall wellbeing. I believe that LifeStyles’ global presence and broad portfolio of brands position the Company as a central player in this exciting category.” Ron is the former CEO of multiple consumer health and wellness companies including Emergen-C, Renew Life, and Perricone MD.  Linden Co-Founding Partner Brian Miller added, “we commend the LifeStyles team, and thank current CEO M’Lou Walker in particular, for their leadership in building this global platform.”  Linden Principal Joshua Reilly will also join the board.

Laurent Faracci, former Executive Vice President of Reckitt Benckiser Health, joins the LifeStyles team as incoming Chief Executive Officer and Board Member.  Laurent’s prior role included oversight of the global sexual wellbeing category with brands like Durex® and KY®, and he brings over 25 years of consumer experience in OTC, nutrition, medical device, and wellness brands. His leadership is focused on unleashing growth through commercial, branding, innovation, and digital excellence. Laurent added “Together with Linden’s support, I’m honored to lead this pure-play business through its continued evolution within this meaningful, growing, and resilient category.  I look forward to engaging with the LifeStyles teams around the world to shape our next era of growth.”

Kirkland & Ellis LLP served as legal advisor and Jefferies Group LLC served as exclusive financial advisor to Linden. CG Sawaya Partners and Houlihan Lokey served as financial co-advisors to the Company. Funds managed by the Credit Group of Ares Management Corporation provided debt financing for the transaction.

About LifeStyles Healthcare
LifeStyles Healthcare has over 100 years of history in the sexual health and wellness market. LifeStyles offers a range of products including condoms, personal lubricants, and other related products to customers in over 60 countries. The LifeStyles portfolio of brands includes SKYN®, the leading global non-latex condom brand, LifeStyles®, Manix®, Unimil®, and Blowtex®.  The Company also supports universities, NGOs, and other organizations with made-to-order condoms. The Company has over 1,600 employees globally and operates two manufacturing facilities in Southeast Asia.

About Linden Capital Partners
Linden Capital Partners is a Chicago-based private equity firm focused exclusively on the healthcare industry. Founded in 2004, Linden is one of the country’s largest dedicated healthcare private equity firms. Linden’s strategy is based upon three elements: (i) healthcare specialization, (ii) integrated private equity and operating expertise, and (iii) its differentiated human capital program. Linden invests in middle market platforms in the medical products, specialty distribution, pharmaceutical, and services segments of healthcare. Since its founding, Linden has invested in over 40 healthcare companies encompassing over 250+ total transactions. The firm has raised over $7 billion in limited partner commitments since inception. For more information, please visit