10.01.13
Private equity firm RoundTable Healthcare Partners has acquired Santa Cruz Nutritionals (SCN) from Levine Leichtman Capital Partners. Founded in 1968, SCN manufactures gummy vitamin/mineral supplements and other nutraceutical products in the U.S. Financial terms of the transaction were not disclosed.
Lester Knight, a founding partner and co-chairman of RoundTable, will serve as chairman of the board of SCN. Mike Westhusing, CEO, and Randy Bridges, CFO and COO, will continue to lead the company’s management team and will serve as members of the board.
“We are very excited to partner with Santa Cruz,” said Mr. Knight. “The gummy dosage formulation is extremely unique, in high demand and has significant room for growth. Mike and Randy have capitalized on this opportunity by building SCN into a market-leading, high quality manufacturer of these products. We look forward to working with them and their team to expand upon their current product offering to take advantage of positive market growth trends.”
RoundTable’s investment strategy targets companies in the healthcare industry that fall within the expertise and experience of the firm’s operating and transaction principals. Santa Cruz Nutritionals is RoundTable’s fourth platform investment from its $600 million Fund III.
Lester Knight, a founding partner and co-chairman of RoundTable, will serve as chairman of the board of SCN. Mike Westhusing, CEO, and Randy Bridges, CFO and COO, will continue to lead the company’s management team and will serve as members of the board.
“We are very excited to partner with Santa Cruz,” said Mr. Knight. “The gummy dosage formulation is extremely unique, in high demand and has significant room for growth. Mike and Randy have capitalized on this opportunity by building SCN into a market-leading, high quality manufacturer of these products. We look forward to working with them and their team to expand upon their current product offering to take advantage of positive market growth trends.”
RoundTable’s investment strategy targets companies in the healthcare industry that fall within the expertise and experience of the firm’s operating and transaction principals. Santa Cruz Nutritionals is RoundTable’s fourth platform investment from its $600 million Fund III.