02/08/2018 | Announcement
Ironwood Capital Announces Sale of Elite One Source® Nutritional Services
AVON, CONNECTICUT, February 8, 2018 – Ironwood Capital is pleased to announce an exit from its investment in Elite One Source® Nutritional Services (“Elite One”), which was sold to DCC Health and Beauty Solutions Ltd.(“DCC”), a division of DCC plc, a leading international sales, marketing and support services group. Ironwood partnered with private equity firm Ampersand Capital Partners in acquiring Elite One in late 2014.
Elite One has earned a reputation for producing the finest quality tablet and capsule nutritional supplements. Its expertise in producing effective nutritional supplements, combined with its unwavering commitment to excellence has made Elite One one of the industry’s fastest growing supplement manufacturers.
“We’re pleased that our confidence in Elite One’s potential has been validated by the DCC purchase,” noted Ironwood Capital President and Chief Investment Officer Carolyn Galiette. “The excellence of execution by management has accelerated growth beyond our original projections, providing an early exit from this investment.”
“Elite One is not just a contract manufacturer. Its leadership fostered a business DNA that looks to solve the problems of its customers, including ways to lower costs and improve product,” stated Ironwood Capital Managing Director Alex Levental. “This kind of partnership is obviously a win-win for the customer and for Elite One and has contributed substantially to the company’s growth.”
About Ironwood Capital
Ironwood Capital is a Connecticut-based private equity firm that provides non-control growth capital to middle market companies, investing more than $700 million in over 125 companies over the past 16 years. 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® Nutritional Services
Elite One, headquartered in Missoula, Montana, provides its customers not only the flexibility of a variety of large batch sizes of tablets and capsules, but also unique packaging capabilities not normally available in the industry. Elite One offers a strong suite of services including, but not limited to, product formulation and specification development, precise ingredient sourcing, extensive in-house laboratory testing and industry-leading regulatory compliance and documentation. For more information, please visit: http://www.eliteonesource.com.
Contacts
Carolyn C. Galiette
President and
Chief Investment Officer
(860) 409-2105
galiette@ironwoodcap.com
Kathy Butler
Director of Marketing
And Communications
(860) 409-2117
butler@ironwoodcap.com
