Boyne Capital has acquired Philadelphia-based Double Wood, a nutritional supplements company. No financial terms were disclosed.
MIAMI, Jan. 26, 2021 /PRNewswire/ — Boyne Capital (“Boyne”) is pleased to announce that one of its affiliates has acquired a majority interest in Double Wood, LLC (“Double Wood” or the “Company”), a leading direct-to-consumer nutritional supplements company.
Headquartered in Philadelphia, PA, Double Wood has a diversified portfolio of more than 60 products and a robust new product development pipeline. Since its founding in 2013 by brothers Reese and Evan Wood, the Company has experienced significant growth, and has been named to the Inc. 500 list of the fastest growing private companies in America. Double Wood maintains a commitment to high quality standards, manufacturing all products domestically in FDA registered and cGMP certified facilities. Each product carrying the Double Wood brand undergoes laboratory testing for potency, microbials, and heavy metals. Additionally, the Company has built an expansive distribution network, partnering with world class e-commerce platforms. Boyne partnered on the transaction with SALT Venture Partners (“SALT”), whose principal, Eric Wenke, joins the Company as CEO. Visit www.doublewoodsupplements.com for additional information.
Boyne Managing Partner and CEO, Derek McDowell, said: “The Boyne team is pleased to join forces with SALT to support the management of Double Wood in its effort to continue building a leading consumer products e-commerce organization. We admire Double Wood’s commitment to product quality and outstanding customer service, key differentiators in the supplement category.”
Reese Wood, Double Wood’s Co-Founder, said: “Evan and I are excited to welcome Boyne and SALT as our new partners in the next phase of growth. We believe the additional resources and expertise brought to the table will allow Double Wood to capitalize on the market opportunity ahead as we continue to grow the product portfolio and expand distribution channels.”
Double Wood’s incoming CEO, Eric Wenke, added: “We’ve been thoroughly impressed with the Double Wood team and their reputation for excellence. I look forward to working with Boyne and Company management to execute across a number of exciting growth opportunities.”
Double Wood represents the most recent platform investment in BCM Fund I. Boyne Capital is dedicated to investing in the lower middle market sector, specifically companies with revenues of less than $100 million and EBITDA of $3 million to $10 million.
Boyne Capital is a Florida-based private equity firm focused on investments in lower middle market companies. Founded in 2006, Boyne has successfully invested in a broad range of industries, including healthcare services, consumer products, niche manufacturing, and business and financial services among others. Beyond financial resources, Boyne provides industry and operational expertise to its portfolio companies and partners with management to drive both company performance and growth. Boyne specializes in providing the capital necessary to fund corporate growth and facilitate owners’ and shareholders’ partial or full exit. For more information, please visit www.boynecapital.com or call 305.856.9500.