Sean Moloughney10.13.09
New York, NY-based private equity firm GF Capital Private Equity Fund, LP has purchased Airborne Health, Inc., the maker of dietary supplements marketed for immune health.
Terms of the deal were not disclosed. Stockton Road Capital, LLC, advised and partnered with GF Capital with respect to this investment.
Airborne contains a proprietary blend of 17 vitamins, minerals and herbs. The key ingredients in Airborne have been shown in scientific studies to help support the immune system, according to the company. Airborne products can be found in food, drug and mass retailers across the U.S. and Canada.
GF Capital has named Martha Morfitt as Airborne's new CEO. Ms. Morfitt most recently served as CEO and a director of CNS, Inc., a publicly traded marketer of consumer healthcare products. During her nine-year tenure, Ms. Morfitt and her team successfully completed a performance turnaround at CNS, returning the company to profitability and transforming it into a growing consumer health products company with flagship brands that include Breathe Right nasal strips and FiberChoice daily fiber supplement brands. CNS was sold to GlaxoSmithKline in December 2006.
"This is an exciting time to step into this role for Airborne," said Ms. Morfitt. "The company is a leader in nutritional supplements that support immune health, an increasingly important category as consumers come to appreciate the benefits of a healthy lifestyle. Our management team and GF Capital are committed to the long-term, profitable growth and expansion of the Airborne brand."
Neil Shapiro, co-founder and managing director GF Capital, said "Airborne occupies a unique place in the nutritional supplement market. We firmly believe in the company and its products, and believe that there's tremendous opportunity for us to grow together. As CEO, Marti has a proven ability to lead companies to profitable growth, expanding their brands and product offerings in the process. We have the utmost confidence in the Airborne team."
Sawaya Segalas & Co., LLC, an investment banking firm, acted as exclusive financial advisor to Airborne Health, Inc., in connection with the transaction.
Terms of the deal were not disclosed. Stockton Road Capital, LLC, advised and partnered with GF Capital with respect to this investment.
Airborne contains a proprietary blend of 17 vitamins, minerals and herbs. The key ingredients in Airborne have been shown in scientific studies to help support the immune system, according to the company. Airborne products can be found in food, drug and mass retailers across the U.S. and Canada.
GF Capital has named Martha Morfitt as Airborne's new CEO. Ms. Morfitt most recently served as CEO and a director of CNS, Inc., a publicly traded marketer of consumer healthcare products. During her nine-year tenure, Ms. Morfitt and her team successfully completed a performance turnaround at CNS, returning the company to profitability and transforming it into a growing consumer health products company with flagship brands that include Breathe Right nasal strips and FiberChoice daily fiber supplement brands. CNS was sold to GlaxoSmithKline in December 2006.
"This is an exciting time to step into this role for Airborne," said Ms. Morfitt. "The company is a leader in nutritional supplements that support immune health, an increasingly important category as consumers come to appreciate the benefits of a healthy lifestyle. Our management team and GF Capital are committed to the long-term, profitable growth and expansion of the Airborne brand."
Neil Shapiro, co-founder and managing director GF Capital, said "Airborne occupies a unique place in the nutritional supplement market. We firmly believe in the company and its products, and believe that there's tremendous opportunity for us to grow together. As CEO, Marti has a proven ability to lead companies to profitable growth, expanding their brands and product offerings in the process. We have the utmost confidence in the Airborne team."
Sawaya Segalas & Co., LLC, an investment banking firm, acted as exclusive financial advisor to Airborne Health, Inc., in connection with the transaction.