Praesdians First Fund Investment is Acquired by Elite One Source Nutrisciences
NEW YORK — January 14, 2015 — Praesidian Capital (the Firm), a leading provider of senior and subordinated debt for small and mid-sized companies, successfully exited its investment in Nutritional Laboratories International, Inc. (NLI), which was acquired by Elite One Source Nutrisciences (Elite One). Elite One is a holding company majority-owned by Ampersand Capital Partners, which intends to combine NLI with its existing contract manufacturing business, NutraMed, Inc. Both NLI and NutraMed are respected providers of nutritional supplemental products; NLI operates from Missoula, Mont, while NutraMed is based in Chino, Calif.
The sale closed December 19, 2014. NLI was advised exclusively by GulfStar Group (GulfStar), an investment banking firm based in Houston, Tex.
NLI was the first investment made by Praesidian, and it took a number of years for us to realize value, recalled Praesidian Founder Jason Drattell. We have worked closely with NLI management in recent years, and the company has performed very well under the leadership of Terry Benishek. We are proud of this successful exit.
Terry Benishek, NLIs Founder, added Everyone at NLI would like to thank Praesidian, specifically for all of their help and guidance over the past two years. Praesidian has been a great partner and we are sure that we will enjoy continued success as part of the Elite One and NutraMed family.
Drattell went on to say that I believe that the combination of these two companies will be advantageous for both businesses. I want to thank Scott Winship, who led the GulfStar team, for both the good collaborative experience and a highly successful outcome of this transaction.
About Nutritional Laboratories International, Inc.
Nutritional Laboratories International is a recognized industry leader in the production of high‐quality nutritional supplement products. NLI provides turnkey outsourced manufacturing, and a broad range of laboratory support services to several of the most‐recognized brands and retailers in the nutritional products industry. NLI formulates and produces a wide range of supplement products that include vitamins, minerals, botanicals, specialty formulations (such as joint health and weight loss products), and homeopathic OTC drugs. The company specializes in solid‐dose delivery forms, principally tablets and capsules, with flexible bottling and packaging capabilities to meet a wide range of customer requirements. NLI was founded in 1997 by a team of dietary supplement and food industry veterans, and conducts its operations from production facilities in Missoula, Mont.
About Praesidian Capital
Praesidian Capital is an innovative private investment firm focused on providing senior and subordinated debt along with growth capital to private lower middle market businesses in the United States, United Kingdom, Germany, and selectively in Northern Europe. Praesidian invests in established, small and mid-sized companies often in connection with management buyouts, recapitalizations and refinancings. Based in New York City with an office in London, Praesidian manages nearly $1 billion in committed capital. For more information, visit www.praesidian.com.
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