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01/12/2015 | Announcement
Ironwood Capital Announces Investment in Elite One Source Nutrisciences

AVON, CONNECTICUT, January 12, 2015 – Ironwood Capital announced today that it has closed on a subordinated debt and minority equity investment in Elite One Source Nutrisciences to finance the acquisition of Nutritional Labs International of Missoula, Montana.  Elite One, a holding company majority-owned by Ampersand Capital Partners, intends to combine Nutritional Labs with its existing contract manufacturing business, NutraMed, Inc. of Chino, California.

“We are excited to support a management team that is building Elite One into a global leader in the development and manufacturing of customized nutraceutical and nutritional products,” stated Carolyn Galiette, senior managing director of Ironwood Capital.  “The Nutritional Labs acquisition expands Elite One’s manufacturing capacity and extensive customer base, and adds a strong suite of services,” adds Alex Levental, director at Ironwood Capital.”Alex Levental and the Ironwood team provided Elite One with a seamless and simplified financing solution that allowed Ampersand to quickly and efficiently complete a complicated transaction,” stated Dr. Tom Burnell, president and chief executive officer of Elite One.

About Ironwood Capital
With over $500 million of capital under management, Ironwood Capital is a Connecticut-based private equity firm that provides non-control growth capital to middle market companies. The firm takes a simple, straightforward approach in providing profitable, well-managed companies with growth and transition capital coupled with strategic, operational and financial guidance. With over 25 years of middle market experience, Ironwood invests in the form of subordinated debt and preferred stock in amounts ranging from $5 million to $20 million to support business owners and financial sponsors in growth financings, full and partial recapitalizations, generational transitions and buyouts. For more information, please visit www.ironwoodcap.com.

About Elite One Source Nutrisciences
Elite One Source Nutrisciences was established to become the leading contract manufacturer for nutritional and dietary supplements.  The business draws on world class facilities across two locations and a deep and experienced team of formulators, chemists, natural product specialists and particle engineers.  The combination of the team and the broad array of services and manufacturing options including tablets, capsules, powders and multiple packaging modalities enable Elite One to provide unmatched service to its customer base.  Elite One maintains the highest quality standards while delivering complex products that meet customers’ time and cost requirements.