New Canaan CT, Oct.16, 2012 — Gridiron Capital LLC has announced the acquisition of Performance Health and Wellness Holdings Inc., a leading designer, manufacturer and marketer of branded rehabilitation and wellness products sold into a variety of U.S. clinical markets, leading national retailers and in more than 60 countries through a multinational network of distribution partners.
The company’s product offering includes an innovative line of market-leading topical analgesics and a broad range of rehabilitation and wellness products. In addition, the company formulates and manufactures a variety of highly engineered products primarily for dental and specialty health care applications. Performance Health markets its diverse product offering under the well-known and highly recognized Thera-Band®, Biofreeze®, Perform® and Hygenic® brand names.
Performance Health’s growth is built on its strong product platform, its culture of excellent customer service, new product and service innovation, and its unmatched management team. Favorable market trends, including an aging yet more active population, greater focus on quality of life and well-being, and consumers’ preference for safer, cost-effective alternative forms of treatment for pain and other disabling physical conditions, will support continued long-term demand for the company’s products.
Thomas A. Burger Jr., managing partner of Gridiron Capital LLC, stated, “We are very excited to be partnering with Marshall Dahneke and the rest of the Performance Health management team to acquire the business. Their passion, energy and commitment to providing great products to the rehabilitation and wellness markets, along with the company’s broad offering of market-leading products and strong brands, are foundations of the future growth potential of the business.”
Dahneke, president and CEO of Performance Health, stated, “Performance Health has been successful because of our unwavering focus on providing innovative, clinically-efficacious products that improve people’s health and well-being and then partnering with our customers by providing training and support to use these products in the most effective ways. We are very excited to have Gridiron as our partner to help strengthen Performance Health’s legacy, innovative product offerings, and brands.”
Robert W. Baird & Co. and Piper Jaffrey acted as the exclusive advisors for the transaction and Ropes & Gray provided legal counsel to the buyer.
About Performance Health and Wellness
Performance Health and Wellness Inc., headquartered in Akron, Ohio, is the premier designer, manufacturer and marketer of branded rehabilitation and wellness products sold into a variety of U.S. clinical markets, through leading national retailers and in more than 60 countries through a multinational network of distribution partners. Founded in 1925 as Hygenic, Inc., the Company has had a long history of product innovation and success and has built strong brands including Thera-Band®, Biofreeze®, Perform® and Hygenic®. For more information, visit www.Performancehealth.com and www.Thera-BandAcademy.com.
About Gridiron Capital
Gridiron Capital LLC, headquartered in New Canaan, Connecticut, is a private equity firm focused on creating value by acquiring and building middle-market manufacturing, service and specialty consumer companies in the U.S. and Canada. The firm’s principals have historically achieved superior investment returns by employing a combination of strategic, operating and financial experience to provide portfolio companies with competitive advantages. Gridiron’s principals work closely with management teams to develop strategies for portfolio companies, as well as providing resources to execute business plans and build industry-leading companies. Additional information is available on the firm’s website at www.gridironcapital.com.