MidOcean Partners Exits Nutrabolt Investment

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MidOceans investment in Nutrabolt is representative of the firms track record of partnering with strong branded consumer companies with a differentiated position in the marketplace.

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Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Thursday, December 8, 2022
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Tags: 
Professional Services, Health, Fitness & Nutrition, Finance, Asset Management, General Health, Vitamins, Supplements, Partner, MidOcean Partners, Food, Partnership, Clos, Kroger, KDP, The Vitamin Shoppe, Functional beverage, Walmart, 7-Eleven, Investment, Energy, History, Pleasure, FFP, DTC, Athlete, Target, Health, GNC, Acquisition, Security (finance), Nutrabolt Stadium, Cloyes, Publix, Walgreens, Amazon
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UNITED STATES, NORTH AMERICA, NEW YORK, WAWA
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MIDOCEAN PARTNERS, NUTRABOLT
Summary
Key Points: 
  • MidOceans investment in Nutrabolt is representative of the firms track record of partnering with strong branded consumer companies with a differentiated position in the marketplace.
  • Our partnership with MidOcean, whose deep industry expertise and experience building successful consumer companies, has been a huge value-add for Nutrabolt as we rolled out significant expansion plans, said Doss Cunningham, CEO of Nutrabolt.
  • MidOceans investment in and exit from Nutrabolt, build upon the firms strong history of successful consumer investments and proven ability to leverage extensive resources, experience, and investment discipline to identify attractive thematic opportunities within targeted sub-sectors.
  • MidOcean Partners is a premier New York-based alternative asset manager specializing in middle-market private equity and alternative credit investments.


MidOcean Partners (“MidOcean”), a premier New York-based alternative asset manager specializing in middle-market private equity and alternative credit investments, today announced its successful private equity investment exit from Nutrabolt, a rapidly growing, global active health and wellness company with a portfolio of market leading performance-oriented brands, including C4® Energy, one of the fastest-growing performance energy drink brands in the U.S. In conjunction with MidOcean’s exit, Keurig Dr Pepper (NASDAQ: KDP), a leading North American beverage company, will enter into a strategic partnership with Nutrabolt including a long-term sales and distribution arrangement and an equity investment.

Since MidOcean’s investment in Nutrabolt in July 2014, the company has experienced transformational business growth, as evidenced by its significant product and international expansion, building of a global beverage distribution network, development of an e-commerce channel, completion of a strategic acquisition, and receipt of numerous industry accolades. MidOcean’s investment in Nutrabolt is representative of the firm’s track record of partnering with strong branded consumer companies with a differentiated position in the marketplace. To this end, during MidOcean’s ownership, Nutrabolt capitalized on industry-leading trends, which enabled the company to bring differentiated, innovative, well-designed products to the market and cement its status as a leader in the health and wellness category.

Daniel Penn, Managing Director at MidOcean, said, “Over the past eight years, Nutrabolt has experienced revenue growth of nearly 4x, enhanced its portfolio of industry leading brands, and clearly defined itself as a top global active health and wellness company. It has been a pleasure working with Doss Cunningham and the entire Nutrabolt team, and we are confident in their ability to continue to grow the company for years to come.”

“Our partnership with MidOcean, whose deep industry expertise and experience building successful consumer companies, has been a huge value-add for Nutrabolt as we rolled out significant expansion plans,” said Doss Cunningham, CEO of Nutrabolt. “Nutrabolt has grown from a bootstrap startup into one of the fastest growing global active health and wellness companies in the world, and we are extremely excited to execute on our vision for the company’s future.”

MidOcean’s investment in and exit from Nutrabolt, build upon the firm’s strong history of successful consumer investments and proven ability to leverage extensive resources, experience, and investment discipline to identify attractive thematic opportunities within targeted sub-sectors. The firm targets stable platforms with multiple growth opportunities, while avoiding cyclical industries. Recent investment highlights include: Casper’s, leading manufacturer and distributor of frozen novelty and other ice cream products; Cloyes, a developer and distributor of mission-critical timing drive systems and components for the auto aftermarket; and FFP, a manufacturer of functional, clean label ingredient solutions for the food and beverage industry.

About MidOcean Partners

MidOcean Partners is a premier New York-based alternative asset manager specializing in middle-market private equity and alternative credit investments. Since its inception in 2003, MidOcean Private Equity has targeted investments in high-quality middle-market companies in the consumer and business services sectors. MidOcean Credit Partners was launched in 2009 and currently manages a series of alternative credit strategies, collateralized loan obligations (CLOs), and customized separately managed accounts. For more information, please visit: https://www.midoceanpartners.com.

About Nutrabolt

Nutrabolt is a fast-growing, global active health and wellness company with a portfolio of market leading performance-oriented brands that energize and fuel active lifestyles. The company's disruptive and innovative products compete in the Functional Beverage and Active Nutrition segments, under three consumer-loved brands: C4® (one of the fastest-growing energy drink brands in the United States and the #1 selling global pre-workout brand), XTEND® (the #1 post-workout recovery brand in the United States), and Cellucor® (an award-winning sports nutrition brand created in 2002). Since its founding 20 years ago, Nutrabolt has set out to meet the discerning needs of performance athletes and fitness enthusiasts, while appealing beyond this core group to include consumers around the globe who are making healthy, active living a daily priority. Nutrabolt's portfolio, which is distributed in over 125 countries, is sold through company-owned DTC platforms, Amazon, and other third-party e-commerce marketplaces, and is available at leading retailers across the U.S., including Walmart, Target, 7-Eleven, Walgreens, Kroger, H-E-B, Wawa, Publix, GNC, and the Vitamin Shoppe. For more information about Nutrabolt, please visit www.nutrabolt.com.

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