Firmament and WM Partners have made an investment in Ultima Health Products, a provider of powdered hydration drink mixes. No financial terms were disclosed.
NEW YORK, Aug. 3, 2021 /PRNewswire/ — The Firmament Group (“Firmament”), a leading provider of tailored debt and equity capital solutions to small- and medium-sized enterprises (SMEs), announced today a follow-on investment in Ultima Health Products, Inc. (“Ultima” or the “Company”). Ultima is the first investment within the Wellmore platform that also houses the Great Lakes Gelatin Company, Jade Leaf, LLC, and Feel Good Organics, LLC. Ultima is a manufacturer of powdered hydration drink mixes that provide electrolyte replenishment, and which are sold direct-to-consumer through Amazon, Whole Foods and various retailers and e-tailers.
As a provider of bespoke capital solutions, Firmament made a follow-on debt and equity investment in the Company in partnership with WM Partners, a Florida-based private equity firm.
“We are confident that Wellmore will benefit from our partnership with Firmament, as we are both very excited to support the platform in its next phase of growth” said Ernesto Carrizosa, Executive Managing Director & Partner at WM Partners.
Lisa Moraglia, Principal at Firmament, added, “Firmament has a strong interest in the health and wellness industry and is delighted to continue to support Ultima and the WM Partners team given their expertise in the better-for-you space.”
Firmament’s Parris Boyd also commented, “We are thrilled to work with WM Partners again and are excited to support Ultima. We look forward to seeing its continued growth within the category.”
Headquartered in Cortland, OH, Ultima develops and manufactures the Ultima Replenisher brand of powdered drink mix that provides balanced electrolytes and support minerals without sugar or artificial ingredients. The products have a broad appeal to athletes, active individuals and those concerned with overall health and well-being.
About WM Partners
WM Partners is a private equit firm focused on the health and wellness sector that was founded in 2015. The firm acquires emerging and established brands and looks to capitalize on strong demographic, lifestyle trends and consumer demand. WM leverages its extensive investment, operational and strategic experience of its principals to grow businesses organically and through acquisitions.
Firmament (www.thefirmamentgroup.com) provides tailored debt and equity capital solutions to small- and medium-sized enterprises. Firmament is a value-added partner to entrepreneurs, management teams and business owners and curates solutions by deploying versatile capital in a user-friendly way. Firmament concentrates on businesses in the healthcare services, software, health and wellness, food and agriculture, life sciences, and business services industries. With offices across the United States and in the United Kingdom, Firmament is focused on turning small business into big business..