MidOcean Partners, a New York–based private equity firm, announced that it has made a significant minority equity investment in Nutrabolt (formerly named Woodbolt Distribution), a leading nutritional life sciences company known for its popular sports nutrition brand, Cellucor.
Founded in 2002 in Bryan, Texas, Nutrabolt produces a line of sports nutrition products under the Cellucor, Neon Sport and Royal Sport brands that have a focus on innovative performance powders and supplements across a wide range of categories, including pre-workout, protein and post-workout recovery. The Company’s brands are sold within leading sports nutrition retailers in North America and internationally. Nutrabolt has also received many of the industry’s highest accolades, including being named “Vendor of the Year” by GNC three of the past four years and earning “Pre-workout of the Year” by Bodybuilding.com in late 2013. In addition, the Company has been a back-to-back-to-back recipient of the INC 5000 distinction—recently being named as the 505th fastest growing company in the United States.
“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,” said 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 CEO Doss Cunningham and President Manish Patel, in achieving our shared growth objectives.”
Cunningham commented, “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.