North Castle Partners, an investor in consumer businesses that promote healthy, active and sustainable living, has added Jay Galluzzo, co-founder and former CEO of Flywheel Sports, as a Managing Director of the firm.
“We welcome Jay to his new role as a managing director of North Castle. While working with Jay in his role as an NCP Operating Advisor, we recognized the value that he would bring as a North Castle investment professional based on his record as an entrepreneur, passion for the healthy living space and nose for new investment opportunities,” said Chip Baird, North Castle CEO and Founder.
Mr. Galluzzo has nearly 20 years of experience as an entrepreneur, executive and investor. Since joining North Castle in 2016 as an operating advisor, he has been involved in sourcing and managing a number of investments. As a co-founder of Flywheel Sports, an operator and franchisor of stationary bike fitness clubs, he led the company from its launch in 2010 through its sale in 2014 to the Benvolio Group and Catterton Partners. During and after his time at Flywheel, he also led early stage investments in emerging brands including DreamDry and Montauk Brewing, and has served in an executive, advisory or board capacity for businesses including The Warnaco Group, Neuehouse and Qor performance apparel.
North Castle makes control investments in consumer-driven product and service companies located in North America with enterprise values ranging from $50 million to $500 million. Sectors of interest include beauty and personal care; consumer health; fitness, recreation and sports; home and leisure; and nutrition. The firm’s current portfolio includes HydroMassage, Strengthen Lengthen and Tone, Curves International/Jenny Craig, Barry’s Bootcamp, Palladio Beauty Group, Mineral Fusion, Red Door Spas, Sprout Organics, SmartyPants, Brooklyn Boulders, Ibex Outdoor Clothing, and Turnbridge.
North Castle held a final closing for North Castle Partners VI, LP with $300 million of committed capital in August 2016. The new fund was oversubscribed and reached its close in just over six months of fundraising.
North Castle is headquartered in Greenwich, CT (www.northcastlepartners.com).
© 2017 Private Equity Professional | February 23, 2017
