Ironwood Capital announced 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, Mont. 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, Calif.
"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.