Maranon Capital has made an investment in Performance Health and Wellness Holdings to support the acquisition of the business by Gridiron Capital and Performance Health’s management team.
Maranon arranged and led a syndicate that provided mezzanine debt and an equity co-investment.
Headquartered in Akron, Ohio, Performance Health is a designer, manufacturer and marketer of branded rehabilitation and wellness products. The company’s products include a line of topical analgesics and a broad range of rehabilitation and wellness products including progressive resistance bands and tubing, exercise balls, hand exercisers, stability trainers and a number of other specialty products. In addition, the company formulates and manufactures a variety of highly engineered products primarily for dental and specialty healthcare applications.
Performance Health markets its product line in the US and over 60 countries under the Thera-Band, Biofreeze, Perform and Hygenic brand names.
“With its broad offering of recognized brands and global scale, Performance Health is ideally positioned within the rapidly growing market for rehabilitation and wellness products,” says Demian Kircher, managing director and the lead partner for Maranon Capital’s investment in Performance Health. “We are very pleased to support Gridiron Capital and the management team in this investment and look forward to working with them as they continue to grow the business.”
Tom Gregory, managing director and co-founder of Maranon Capital, says: “This investment represents an important milestone for Maranon Capital as we have now invested in more than 30 platform companies and add-on acquisitions representing over USD775m of capital since 2008.”
