M&A Deal Summary

Bansk Group Acquires Foundation Wellness

On September 4, 2024, private equity firm Bansk Group acquired consumer products company Foundation Wellness from Gridiron Capital and Kaulig Capital

Acquisition Highlights
  • This is Bansk Group’s 6th transaction in the Consumer Products sector.
  • This is Bansk Group’s 8th transaction in the United States.
  • This is Bansk Group’s 1st transaction in Ohio.

M&A Deal Summary
Date 2024-09-04
Target Foundation Wellness
Sector Consumer Products
Buyer(s) Bansk Group
Sellers(s) Gridiron Capital
Kaulig Capital
Deal Type Secondary Buyout
Advisor(s) Robert W. Baird & Co., Inc. (Financial)

Target

Foundation Wellness

Wadsworth, Ohio, United States
Foundation Wellness is a specialty designer and manufacturer of branded and private label orthotic solutions, including footbeds/insoles, foot care products, orthopedic braces, sports support, and ergonomic safety products. Foundation Wellness was founded in 1934 and is based in Wadsworth, Ohio.

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Buyer(S) 1

Buyer

Bansk Group

Investor

Category Private Equity Firm
Founded 2019
PE ASSETS 2.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Bansk Group is a consumer focused private equity firm. Specific areas of interest include household products, beauty & personal care, consumer health, and food/beverage. The Firm looks to invest $100 to $400 million and looks to be a long-term partner with management in pursuing new avenues for growth. Bansk Group was established in 2019 and is headquartered in New York City.

DEAL STATS #
Overall 9 of 9
Sector (Consumer Products) 6 of 6
Type (Secondary Buyout) 3 of 3
State (Ohio) 1 of 1
Country (United States) 8 of 8
Year (2024) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-07 PetIQ

Eagle, Idaho, United States

PetIQ is a distributor and supplier of branded and generic pet pharmaceuticals and over-the-counter (OTC) products to national retailers. PetIQ was founded in 2010 and is based in Eagle, Idaho.

Buy $1.5B

Seller(S) 2

SELLER

Gridiron Capital

New Canaan, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 764M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Gridiron Capital is a private equity firm focused on acquiring mid-sized North American manufacturing, service and specialty consumer companies. Gridiron looks to commit companies with EBITDA up to $60 million. The Firm prefers controlling interests when considering transactions. Situations of interest include companies operating in sectors undergoing change, closely held companies owned by founding family or management for ownership transition, and corporate divestitures of orphaned or non-strategic business units. Gridiron Capital was formed in 2004 and is based in New Canaan, Connecticut.

DEAL STATS #
Overall 19 of 19
Sector (Consumer Products) 5 of 5
Type (Secondary Buyout) 10 of 10
State (Ohio) 2 of 2
Country (United States) 19 of 19
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-23 GSM Outdoors

Irving, Texas, United States

GSM Outdoors specializes in developing and marketing innovative products for the hunting, sport shooting, and rugged outdoor enthusiast market. GSM owns 20+ industry-leading brands including stealth cam, walker’s, muddy outdoors, birchwood casey, hawk, cyclops, western rivers, american hunter, HME, and SME among others. GSM’s strong focus on innovation, product development, rigorous quality control, and customer support has earned it a reputation for delivering top quality outdoor gear backed by industry-leading customer service. GSM Outdoors was founded in 1999 and is based in Irving, Texas.

Sell -
SELLER

Kaulig Capital

Investor Investor Investor Investor Investor

Category Family Office
Founded 2016
Size Small
Type Sector Agnostic
DESCRIPTION

Kaulig Capital is a family office focused on opportunities in private equity and real estate. Within private equity Kaulig looks to partner with owners looking for full/partial liquidity, fundless sponsors look for a capital partner, growth capital financings, and operators seeking a partner to acquire a business. The Firm is sector agnostic and will consider opportunities throughout the US with at least $10 million of revenue and $2 million of EBITDA. Kaulig Capital was formed in 2016 and is headquartered in Hudson, Ohio.

DEAL STATS #
Overall 3 of 3
Sector (Consumer Products) 1 of 1
Type (Secondary Buyout) 2 of 2
State (Ohio) 1 of 1
Country (United States) 3 of 3
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-22 Wolf & Shepherd

El Segundo, California, United States

Wolf & Shepherd is a formal footwear company that features both leather and athletic performance materials, showcasing its commitment to craftsmanship. Wolf & Shepherd was formed in 2016 and is based in El Segundo, California.

Buy -
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