Versa Gripps USA (“Versa Gripps”) announced that it has been acquired by Salt Creek Capital. Versa Gripps was founded by Michael and Heather Parker who grew the Company through the innovation of the weightlifting ‘grip’ for which Michael Parker holds the original patent. The Company has since grown into the category leader of American-made weightlifting accessories used by professional athletes, bodybuilders, NFL teams, and weightlifting enthusiasts of all levels. This transaction is the successful culmination of an initiative led by Peloton Advisory LLC.
Founded in 1998, Versa Gripps USA (www.versagripps.com) is a premier brand of weightlifting grips that enable users to lift more and train better. Versa Gripps are made in America and have been a leader in the fitness accessories industry for over 25 years, selling both domestically and internationally from its headquarters in Sorrento, Maine. The Company provides Versa Gripps to a wide spectrum of weightlifting enthusiasts who put a high value on quality given the demands of their workouts.
Katelyn Bray, COO and Willa Parker, CMO at Versa Gripps USA, stated “We have a long and proud history of manufacturing world class Versa Gripps to all types of fitness enthusiasts. As a leader in this growing industry segment, our commitment to our valued employees and loyal customer base remains as strong as ever. We are excited about this incredible milestone and look forward to working with Lester Lee and SCC to continue its growth in the future.”
Lester Lee, incoming CEO, added, “Versa Gripps USA has an exciting future ahead of it and I look forward to working with the loyal employees, suppliers, and customers of the Company to build upon the great legacy created by Mike and Heather Parker.”
Salt Creek Capital (www.saltcreekcap.com) is a San Francisco Bay Area-based private equity firm that partners with experienced operating executives to acquire profitable companies with $5 million – $150 million in revenue. Salt Creek Capital takes a long-term approach to investing in lower middle market businesses and seeks to create value by working closely with management teams to accelerate growth and improve operating efficiencies.
Peloton Advisory LLC (www.pelotonadvisory.com) provides M&A advisory to highly successful, privately-owned entrepreneurial companies and their owners.