Gridiron Buys Performance Health and Wellness

Maranon Capital said Wednesday it invested in Performance Health and Wellness Holdings to back its acquisition by Gridiron Capital and company management. Akron, Ohio-based Performance Health designs, makes and markets rehabilitation and wellness products. Maranon said it arranged and led a syndicate which provided mezzanine debt and an equity co-investment.


Maranon Capital, L.P. announced today an investment in Performance Health and Wellness Holdings, Inc. (“Performance Health”) to support the acquisition of the business by Gridiron Capital, LLC and Performance Health’s management team. Maranon arranged and led a syndicate that provided mezzanine debt and an equity co-investment.

Headquartered in Akron, Ohio, Performance Health is a leading designer, manufacturer and marketer of branded rehabilitation and wellness products. The company’s products include an innovative line of market-leading topical analgesics and a broad range of rehabilitation and wellness products including progressive resistance bands and tubing, exercise balls, hand exercisers, stability trainers and a number of other specialty products. In addition, the company formulates and manufactures a variety of highly engineered products primarily for dental and specialty healthcare applications. Performance Health markets its diverse product line in the U.S. and over 60 countries under the well-known and highly recognized Thera-Band®, Biofreeze®, Perform® and Hygenic® brand names.

“With its broad offering of recognized brands and global scale, Performance Health is ideally positioned within the rapidly growing market for rehabilitation and wellness products” commented Demian Kircher, Managing Director and the lead partner for Maranon Capital’s investment in Performance Health. “We are very pleased to support Gridiron Capital and the management team in this investment and look forward to working with them as they continue to grow the business” added Kircher.

Tom Gregory, Managing Director and Co-Founder of Maranon Capital, remarked “This investment represents an important milestone for Maranon Capital as we have now invested in more than 30 platform companies and add-on acquisitions representing over $775 million of capital since 2008.”

Other Maranon Capital team members involved in the Performance Health transaction included Ian Larkin, Managing Director and Co-Founder, Rommel Garcia, Vice President, and Colin McCarthy, Associate. Katten Muchin Rosenman LLP provided legal counsel for Maranon.

About Maranon Capital

Maranon Capital, L.P. provides senior financing, mezzanine debt and equity co-investments for private equity-backed and non-sponsored middle market transactions. Maranon has the flexibility to structure an integrated financing solution or provide stand-alone senior or mezzanine debt. Maranon is currently managing over $550 million of committed capital. The firm is headquartered in Chicago with additional offices in Birmingham, Michigan and South Bend, Indiana. For more information about Maranon Capital please visit

About Gridiron Capital

Gridiron Capital, LLC, is a private equity firm focused on creating value by acquiring and building middle-market manufacturing, service and specialty consumer companies in the United States and Canada. The firm’s principals have historically achieved superior results by employing a combination of strategic, operating and financial experience to provide portfolio companies with competitive advantages. Gridiron’s principals work closely with management teams to develop strategies for portfolio companies, as well as providing resources to execute business plans and build industry-leading companies. Additional information is available at