Sheridan Capital Partners has acquired Europa Sports Products, a wholesale distributor of sports and fitness supplements. Sheridan will merge the business of its existing portfolio company, Lone Star Distribution, also a wholesale distributor of sports and fitness supplements, into the Europa platform.
Europa Sports Products is a national specialty distributor of protein powders, nutrition bars, sports drinks, sports performance supplements, vitamins, weight loss supplements, and meal replacements. The company sells its more than 6,000 SKUs to mass markets retailers, gyms, health food stores and specialty supplement retailers. Europa has 336,500 sq. ft. of total warehouse space in seven distribution centers in Charlotte, Dallas, Strongsville (Ohio), Fresno, Windsor (Connecticut), Orlando, and Las Vegas. The company was founded in 1990 by Eric Hillman and Jeff Compton and is headquartered in Charlotte (www.europasports.com).
Lone Star Distribution, acquired by Sheridan Capital in May 2015, is a wholesale distributor of sports nutrition and fitness products, including protein powders, vitamins, and workout and weight loss supplements. The company has a nationwide network of distribution centers and sells its products to vitamin and supplement stores, gyms, e-retailers, smoothie bars, and juice bars. The company was founded in 1997 and is headquartered in Dallas (www.lonestardistribution.com).
“We are extremely excited to bring together two leading players in the sports nutrition industry and create a best-in-class provider for our customers,” said Jonathan Lewis of Sheridan. “Europa is a world-class company with a terrific management team and great brand and customer relationships.”
Sheridan 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.sheridancp.com). Sheridan’s transaction team was led by Mr. Lewis, Sean Dempsey, Tim Wheeler and Chase Culbertson.
Europa Sports Products was advised by Deloitte Corporate Finance (www.deloitte.com). Debt financing was provided by MidCap Financial (www.midcapfinancial.com).
© 2016 PEPD • Private Equity’s Leading News Magazine • 2-25-16