Branford Castle Partners, LP, a New York City-based private equity firm, today announced that its portfolio company, Earthlite LLC, has acquired Tara Spa Therapy, Inc. from Tara Grodjesk. This is the ninth transaction for Branford's fund, which closed in late 2016.
Based in Carmel, CA, Tara Spa Therapy is a well-known brand in the lotions and creams segment of the spa industry. The Company's end-customers include many luxury hotel chains and high-end day spas. Tara Spa Therapy was founded by Ms. Grodjesk, who has been a pioneer in Ayurvedic Medicine and Aromatherapy in the Spa industry. Ms. Grodjesk will now serve as Vice President of the Consumables Division and Chief Wellness Officer of Earthlite and will be an Earthlite shareholder as well.
"Branford's rapid acquisition pace continues, focused on acquiring leading businesses. The acquisition of Tara Spa strengthens Earthlite's position as a global leader in health and wellness and will allow us to significantly ramp up our growth in the consumables segment of the spa products market," said Laurence Lederer, Managing Director at Branford Castle. "We look forward to continuing to support Earthlite's management team as they carry on their impressive growth trajectory."
"We have known and admired Tara Grodjesk and her company for many years, and we are delighted to welcome her as Earthlite's first female Corporate Officer," said CEO Jim Chenevey. "We believe that Tara will make great contributions to Earthlite's future direction, and her line of innovative spa products should absolutely thrive under the Earthlite umbrella."
Branford Castle was advised by its legal counsel, Akerman LLP. Terms of the transaction were not disclosed.
About Branford Castle Partners
Building from the foundation of its affiliate, Branford Castle, Inc., Branford Castle Partners is an active investor in small-to-medium-sized private companies. With each new investment, Branford builds on its 30-year history of helping to grow businesses. The firm typically makes control investments in companies with up to $100 million in total enterprise value and a leadership position in a niche industry. Branford Castle Partners has particular experience in the industrials, consumer goods & services and transportation & logistics industries. (www.branfordcastle.com)
About Earthlite
Earthlite is a pre-eminent manufacturer and supplier of health and wellness equipment. Headquartered in Vista, CA, Earthlite's most prominent products are its massage tables, which garner the industry's leading market share. The company has a family of five proprietary brands of massage tables that are among the longest-standing and most-respected in the market, including Living Earth Crafts, Stronglite, Earthlite and Inner Strength. (www.earthlite.com)
