WM Partners' Second Fund Completed Its First Acquisition

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Jul 02, 2019, 07:55 ET

FT. LAUDERDALE, Fla., July 2, 2019 /PRNewswire/ -- HPH II Investments Master Fund, LP together with its related entities ("HPH II"), a private equity fund managed by WM Partners, today announced the acquisition of Ultima Health Products, Inc. ("Ultima"), a provider of sugar-free electrolyte hydration products based in Cortland, Ohio. WM Partners is a Ft. Lauderdale-based private equity firm focused on investing in lower-middle market companies in the health and wellness sector. Terms of the transaction were not disclosed.

Founded in 1996, Ultima was founded by a passionate nutritionist/long distance runner who created Ultima for the United States Track & Field distance athletes participating in the 1996 Olympic Games in Atlanta. Today, the brand also caters to the general health conscious consumer and to the whole family, including children and seniors, active lifestyle consumers, yogis and paleo and keto diet consumers. Its products are "on trend" with natural, no sugar and non-GMO ingredients. Ultima sells its products through distributors, retail chains, and various e-commerce platforms, and has a strong presence in the natural & specialty channel and a significantly growing presence in the e-commerce channel. Ultima represents the first acquisition made by HPH II.

HPH II is focused on acquiring lower-middle market companies with leading brands in the health and wellness sector and growing the companies through an operational buy and build value creation strategy. HPH II is focused on the following subsectors: functional foods, natural personal care and natural over-the-counter remedies – fast-growing, defensive and highly fragmented subsectors. Ultima fits perfectly with HPH II's investment criteria, as a privately-owned company, sourced in a proprietary manner building the relationship with the owners for over two years, and targeting one of HPH II's core subsectors, among other factors. "We are excited to help take the brand to its next level of growth and create long-term value by implementing identified operational and commercial improvements such as further channel expansion, new product development as well as pursuing strategic and complementary acquisitions," said Jose Minski, co-founder of WM Partners.

"We are very excited to partner with WM Partners and leverage their operational expertise and capabilities to further grow the brand and the company," said Livingston Miller, COO of Ultima. "We are proud of what we have accomplished to date as a small brand and are confident that WM Partners will continue our expansion plans while doing well for our customers," he added.

No financial advisor served on this transaction. Akerman LLP served as legal advisor for WM Partners. Carter Ledyard & Milburn LLP served as legal advisor for Ultima.

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.

About Ultima Health Products, Inc.
Ultima is a provider of sugar-free electrolyte hydration products based in Cortland, Ohio. For more information, visit www.ultimareplenisher.com.

For media inquiries about this press release, please contact:
WM Partners, LP
Vanessa Gabela
Email: [email protected]
Tel: +1 754-260-6507

SOURCE WM Partners