Salt Creek Capital has acquired Power Gripps USA (DBA Versa Gripps USA), a branded manufacturer of weightlifting accessories.
Versa Grips are used by professional athletes, bodybuilders, and weightlifters to improve grip strength and assist with lifting heavier weights. By providing a more secure grip on the weight, Versa Grips allow the user to lift more weight with more reps which can lead to greater muscle gains and improved strength over time.
Versa Grips are made at the company’s facility in Maine and come in a range of sizes and styles to fit different hand sizes and training goals. Some models feature extra padding or wrist support for added comfort and protection during heavy lifts. Versa Grips was founded in 1998 by Michael and Heather Parker and is headquartered in Sorrento, Maine.
Post-closing, Versa Gripps will be led by incoming CEO Lester Lee. “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,” said Mr. Lee. Other members of the company’s management team include COO Katelyn Bray and CMO Willa Parker.
“Versa Gripps USA is an established leader with a history of innovation. We look forward to working alongside Lester, Katelyn, Willa, and the entire team to continue to expand with this great platform,” said Jordan Stankowski, an operating partner at Salt Creek Capital.
“It has been an amazing journey over the last two decades building Versa Gripps into the company it is today,” said the Parkers in a released statement. “We look forward to seeing Lester Lee and the Salt Creek Capital team lead the company through its next stage of growth.”
Salt Creek invests in North American-headquartered companies that have revenues of $5 million to $150 million. Sectors of interest include manufacturing, logistics, value-added distribution, B2B and B2C services, food and beverage, healthcare, retail, and hospitality. The firm is headquartered near Menlo Park in Woodside, California.
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