Branford Castle Partners, LP, a New York City-based private equity firm, today announced that its portfolio company, Earthlite LLC, has acquired Continuum Footspas, LLC from Joe Galati and the other founders of the company.
Based in New Berlin, WI, Continuum is a leader in the premium pedicure chair market. The Company's end-customers include many international luxury hotel chains and high-end day spas. Continuum was founded by the inventors of the modern pedicure chair.
"The acquisition of Continuum strengthens Earthlite's position as a global leader in the health and wellness equipment market," said Laurence Lederer, Managing Director at Branford Castle. "We look forward to continuing to support Earthlite's management team as they grow the company organically and through other add-on acquisitions."
"We are delighted to add this leading brand to Earthlite's already strong pedicure product offering," said Earthlite CEO, Jim Chenevey. "We have long admired Continuum's quality products and reputation for excellent service, and look forward to continuing to build this great brand."
Branford Castle was advised by its legal counsel, Akerman LLP. TCF Capital Funding provided financing for the transaction, with the company's mezzanine lender Siguler Guff supporting the transaction as well. Terms of the transaction were not disclosed.
About Branford Castle Partners
Building from the foundation of its affiliate, Branford Castle, Inc., Branford Castle Partners is an active investor in small-to-medium-sized private companies. With each new investment, Branford builds on its senior management's 35+ year history of helping to grow businesses. The firm typically makes control investments in companies with up to $75 million in total enterprise value, EBITDA less than $15 million and a leadership position in a niche industry. Branford Castle Partners has particular expertise in the industrials, consumer goods & services and transportation & logistics industries. (www.branfordcastle.com)
Earthlite is a pre-eminent manufacturer and supplier of health and wellness equipment. Headquartered in Vista, CA, Earthlite's most prominent products are its massage tables, which garner 20% global market share. The company has a family of six proprietary brands of massage tables that are among the longest-standing and most-respected in the market, including Living Earth Crafts, Stronglite, Earthlite and Inner Strength. (www.earthlite.com)