CenterGate Capital has acquired The Marena Group, a provider of compression garments, shapewear, and activewear for post-surgical and therapeutic use, from The Riverside Company.
Marena’s medical-grade products are designed to enhance healing, improve circulation, and increase comfort during recovery from invasive and non-invasive surgeries, maternity and post-pregnancy needs, and lipedema.
Brand names include Marena Recovery, Marena Shape, and Marena Sport. Marena’s products are distributed in more than 60 countries, with customers that include plastic surgery centers, hospitals, outpatient surgical centers, and direct-to-consumer buyers. Headquartered northeast of Atlanta in Lawrenceville, Georgia, Marena was founded in 1994 by Bill Rich and is currently led by CEO Dale Clendon.
“We are very excited to partner with CenterGate for our next phase of growth,” said Mr. Clendon. “CenterGate’s investment will provide us the capital and strategic resources to continue our growth trajectory while providing the highest quality and most innovative products to optimize the recovery experience of patients.”
“Dale and the Marena team have grown the company as the preeminent and premium brand for medical-grade compression garments both in the U.S. and internationally,” said Tim Liu, a managing director at CenterGate. “We are excited to partner with Marena to support the execution of their growth plan.”
CenterGate, based in Austin, Texas, invests between $10 million and $75 million in equity in lower middle-market companies across North America, with EBITDA ranging from $5 million to $30 million. Its areas of focus include business services, manufacturing, and consumer sectors. In August 2024, CenterGate announced the final closing of CenterGate Capital Partners II LP with just over $375 million in capital, exceeding its target.
The Riverside Company acquired Marena in December 2015. “Under our hold, Marena has successfully expanded its operational reach and further built on its premium leadership position in the market,” said Loren Schlachet, a managing partner at Riverside. “We worked hard to professionalize the organization, build out manufacturing capacity and expand into new geographies.”
The Riverside Company, headquartered in New York City and Cleveland, invests in lower middle market businesses that are active in the healthcare, business services, and specialty manufacturing sectors. The firm manages over $13 billion in assets and has completed more than 950 investments across North America, Europe, and Asia.
Stout Capital and Capstone Partners were the financial advisors to The Marena Group.
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