Wed, 09/07/2014 - 06:04
Private equity firm MidOcean Partners has made a significant minority equity investment in Nutrabolt, a nutritional life sciences company known for its popular sports nutrition brand, Cellucor.
Founded in 2002 in Texas, Nutrabolt produces a line of sports nutrition products under the Cellucor, Neon Sport and Royal Sport brands.
The company's brands are sold within leading sports nutrition retailers in North America and internationally.
"MidOcean has extensive experience in the health and wellness space, and we found Nutrabolt's unique and leading position in the sports nutrition marketplace very compelling," says Daniel Penn, a MidOcean principal. "We are very impressed with the entire Nutrabolt management team, who has grown the business into a world-class enterprise during the last several years. We believe that Nutrabolt's differentiated brand fits perfectly with MidOcean's proven expertise in driving growth in strong consumer branded companies; we look forward to working closely with Nutrabolt's management team, including the company's CEO, Doss Cunningham and president, Manish Patel, in achieving our shared growth objectives."
Cunningham says: "We are thrilled to have MidOcean join the Nutrabolt team as a value-added partner. MidOcean's reputation for assisting brands drive their growth strategy is quite impressive and our team is excited about the future prospects of our Company with their involvement."
Houlihan Lokey served as Nutrabolt's exclusive financial advisor in connection with the investment.
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