New Vitality Gains Equity InfusionNew Vitality Gains Equity Infusion
April 6, 2010
FARMINGDALE, N.Y. New Vitality raised an undisclosed amount of private equity funding from Baird Capital Partners (BCP), the Chicago-based buyout fund of Baird Private Equity. The funds will be used to further build the company into a multi-product, multi-channel, direct-to-consumer marketer of dietary supplements and personal care products. Management, RCP Advisors LLC, Jordan/Zalaznick Capital Partners Limited and Northstar Capital LLC co-invested in this transaction. Fifth Third Bank provided the senior debt financing and Northstar Capital also provided the subordinated debt financing.
We spent the last year conducting in depth market research on the wellness market and New Vitalitys platform is well-aligned with BCPs strategic thesis, investment criteria and global resources, said Gordon Pan, BCP partner. We see significant opportunities for the Company to access untapped markets and channels. We look forward to working with management to position New Vitality for continued growth.
As part of the transaction, Jonathan Flicker will join New Vitality as president. Flicker was previously executive vice president of marketing for Guthy-Renker, a large direct-to-consumer marketing company. He said, I am very pleased to be partnering with BCP and New Vitality. I believe now is an opportune time to build a leading direct to consumer business through investments in additional products, new channels and by leveraging the existing New Vitality brand.
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