WM Partners has closed its debut fund at over $307 million, beating its $300 million target. The limited partners of HPB Specialized Fund I include global private equity investment and advisory firms, insurance companies and family offices with Vanterra Capital serving as an anchor investor. The fund will focus on acquiring middle market companies in the vitamins, minerals and supplements and natural personal care sectors.
FT. LAUDERDALE, Fla., July 19, 2017 /PRNewswire/ — WM Partners, a Ft. Lauderdale-based private equity firm focused on investing in middle-market companies in the health and wellness sector, is announcing the final closing of the firm’s first fund, HPH Specialized Fund 1, LP (together with its parallel fund, HPH Specialized International Fund 1, LP, “the Fund”) with over $307 million in commitments. The Fund closed on June 30th, 2017 exceeding WM Partners’ target of $300 million.
The Fund received strong support from various prominent investors from North America, Latin America and Europe, including fund of funds, global private equity investment and advisory firms, insurance companies, and family offices, among others. The Fund received an anchor commitment from Vanterra Capital, a global private equity firm and fund seeding platform with a track record of partnering with specialized investment and operating teams. WM Partners’ principals contributed the Fund’s foundational investment through an in-kind contribution of Wellnext Holdings (“Wellnext”), a nutritional supplements company.
The Fund is focused on acquiring lower-middle market companies with leading brands in the Vitamins, Minerals and Supplements (VMS) and Natural Personal Care sectors and integrating them into one consolidated platform, Wellnext. Headquartered in Sunrise, FL, Wellnext is a vertically integrated manufacturer and marketer of organic and natural plant and food-based supplements sold through specialty retail, natural retail and online / direct to consumer channels. To date, the Fund has closed on three acquisitions which have been integrated into the Wellnext platform, and the team has an active pipeline of proprietary acquisition targets in the VMS sector that it is currently evaluating. The Fund seeks to make equity investments of $15 million to $75 million in middle-market companies.
WM Partners was founded by Alejandro Weinstein and Jose Minski, who share over 20 years of experience working together. Mr. Weinstein is the former CEO of CFR Pharmaceuticals, where he orchestrated one of the largest IPOs in Latin America and ultimately sold to Abbott Laboratories in 2014.
Mr. Minski is the former co-founder and COO of Trolli, Inc., and led the company from a startup venture to its eventual sale to Texas Pacific Group. Mr. Minski also founded Wellnext. Jose Minski said: “We are extremely pleased with the support we have received from our limited partners in our first fund. We are proud of what we have accomplished to date, and are focused on being disciplined in our approach to building value for the Fund and our limited partners.”
Alejandro Weinstein added, “We are pleased to have successfully reached our Fund’s target as we have an active pipeline of internally generated acquisition opportunities that we intend to execute over the next few years. With these potential acquisitions, we strive to become one of the leading players in the natural VMS space.”
About WM Partners, LP
WM Partners is a middle-market private equity firm specialized in buyout investments in the health and wellness sectors. WM Partners seeks to acquire small and medium size businesses with attractive growth prospects and generate sustainable, long-term value through its operational expertise in the health and wellness sectors, and strategic business approach working in collaboration with experienced management teams. WM Partners is based in Ft. Lauderdale, FL. More information about WM Partners is available at www.wmplp.com.