Topspin Partners LBO has acquired IDS Sports, an Oviedo, Fla.-based maker of fitness nutritional supplements. No financial terms were disclosed.
Topspin LBO today announced that it has completed the acquisition of a majority stake in IDS Sports from the company’s founding partners, Joseph Savas and Nick Worrell. IDS, a sports nutrition company based in Oviedo, Florida, sells a portfolio of nutritional products through GNC, Vitamin Shoppe, Vitamin World and a variety of distributors and on-line retailers. IDS’s biggest selling and fastest growing product is New Whey Liquid Protein, a highly concentrated, great-tasting protein drink packaged in a vial. New Whey contains 42 grams of protein with no sugar or fat in less than three and a half ounces.
Mr. Savas and Mr. Worrell will remain with the company as Executive Vice Presidents of Marketing and Operations respectively. Both have significant experience in the nutritional industry and together have launched several innovative new products. They will report to the company’s new CEO, David Dixon. Mr. Dixon brings extensive strategic marketing, brand building and management experience, having been a senior marketing executive at Miller Brewing Company as well as having successfully run an international beverage and distribution company. Mr. Savas stated, “We are thrilled to have Topspin as our new partners and Dave as our new CEO. Their experience in retail and consumer packaged goods will be extremely helpful as we look to take the company to the next level.”
Added Mr. Dixon, “I am extremely excited to join the IDS Sports team and look forward to helping accelerate the outstanding growth the company has achieved over the last several years.”
Leigh Randall, a partner at Topspin LBO, said “IDS is an outstanding addition for our fund. The company has significant momentum and we look forward to working with Dave, Joe, Nick and the IDS team in maintaining and building on it.”
Topspin LBO is a $132 million, Long Island, NY-based private equity fund that makes control investments in small businesses with $15 million to $75 million of revenues. The firm often invests in sectors such as consumer products, retail, security, media and publishing, business services, and niche manufacturing. The team at Topspin LBO has considerable operations expertise and has partnered with management teams in building businesses of varying stages and sizes, both at Topspin as well as prior firms. Additional information on Topspin LBO can be found at www.topspinlbo.com.