New capital will allow Capstone to continue to grow its best-in-class platform in a fragmented sector
OGDEN, UT, September 3rd, 2019 – Brightstar Capital Partners (“Brightstar”), a private investment firm that partners with closely-held, middle market companies, announced today it has signed a definitive agreement to acquire Capstone Nutrition (“Capstone” or the “Company”), in partnership with members of its senior leadership team.
Founded in 1989 and headquartered in Ogden, Utah, Capstone is a leading developer and manufacturer of high-quality nutrition products. The Company lives up to its “Life Improved” motto, using a state-of-the-art 300,000 square foot facility to produce a wide range of vitamins, minerals, nutrition, anti-aging, and general wellness products. Capstone’s diverse customer base includes global marketers, consumer brands, health food and specialty retail outlets, as well as online and mass-market retailers.
“Capstone is a top-tier platform in a fragmented and rapidly growing segment of the health and wellness market,” said Gary Hokkanen, Brightstar Partner and incoming Chairman of Capstone. “The Company has a 30-year history of making health-oriented products for a variety of customers in the United States and internationally, and we are eager to apply our operational experience and expertise to help the business thrive.”
“The Capstone team is delighted to be partnering with Brightstar to help us maximize our growth potential,” said Jared Leishman, CEO of Capstone. “Their experienced team adds new capabilities and resources to further our success and allow us to grow into new markets and products.”
“I’ve worked with entrepreneurs, families and founders of Utah businesses since my time at BYU, and I know Gary’s decades of leadership and his core values will feel right at home in Utah,” said Roger Bulloch, Brightstar Partner and incoming Vice-Chairman of Capstone. “We’ve seen Capstone’s rapid growth and have conviction in the Company’s leadership, innovative products, and long-term growth model within its key markets and beyond.”
About Capstone Nutrition
Capstone is a provider of turnkey services from concept to blending, manufacturing, and packaging of solid dose products (e.g. tablets and capsules) and powders. Additionally, the Company is an R&D leader in the vitamin, mineral, and dietary supplement category, developing more than 275 new or enhanced products in a given year. Capstone is fully certified for cGMP, NSF, NSF Sport, and Australia’s Therapeutic Goods Administration (TGA), as well as Halal and Kosher products. For more information, please visit www.capstonenutrition.com.
About Brightstar Capital Partners
Brightstar Capital Partners is a private equity firm focused on investing in closely-held companies. Brightstar seeks partnership opportunities with exceptional management teams where it is uniquely positioned to drive value creation. Brightstar seeks control investments and employs an operationally intensive approach to investing that leverages its extensive experience and relationship network. For more information please visit www.brightstarcp.com.