Sheridan Legacy Group, a lower middle-market firm, has acquired Lone Star Distribution, a specialty distributor of sports nutrition fitness products.
Lone Star distributes protein powders, creatine, bars, muscle enhancers, workout supplements, sleep aids and immune boosters, vitamins, weight loss supplements, and energy boosters. The company operates six distribution centers located in Dallas; Atlanta; Indianapolis; Shelton, CT; Pompano Beach, FL; and Las Vegas. Lone Star is headquartered in Dallas (www.lonestardistribution.com).
“We are excited to partner with CEO Gary Giles, Lone Star founder John Hoffmann, and the entire management team to support the company’s ongoing success and accelerate its expansion initiatives across the US,” said Jonathan Lewis, Partner of Sheridan Legacy Group. The acquisition of Lone Star was led by Mr. Lewis, Principal Sean Dempsey, and Associate Chase Culbertson.
Before joining Lone Star as its new Chief Executive Officer in May 2015, Mr. Giles spent 9-years at The Juice Plus Company most recently as Global Vice President of Product and Research. “Sheridan Legacy Group represents a great strategic partner for Lone Star,” said Mr. Giles. “Their understanding of the distribution and consumer markets, operational focus, and strategic guidance will help us leverage and expand existing operations while maintaining the Lone Star’s focus on customer and vendor relationships.”
Sheridan Legacy Group makes investments of $10 million to $30 million in leveraged buyouts, recapitalizations and large minority financings of lower middle-market companies with enterprise values between $20 million and $150 million. Sectors of interest include healthcare and consumer. The firm was founded in 2012 and is headquartered in Chicago (www.sheridanlegacy.com).
2015 PEPD • Private Equity’s Leading News Magazine • 6-4-15