Salt Creek Capital Acquires Versa Gripps
Mar. 08, 2023
Woodside, California (March 8, 2023) – Salt Creek Capital is pleased to announce the acquisition of Power Gripps USA, dba Versa Gripps USA, a globally recognized brand and manufacturer of performance-driven weightlifting accessories. Headquartered in Sorrento, Maine, Versa Gripps was founded by Michael and Heather Parker who grew the Company through the innovation of the weightlifting ‘grip’ for which Michael Parker holds the original patent. The Company has since grown into the category leader of American-made weightlifting accessories used by professional athletes, bodybuilders, NFL teams, and weightlifting enthusiasts of all levels.
Mike and Heather Parker, Owners of Versa Gripps USA, jointly stated “It has been an amazing journey over the last two decades building Versa Gripps into the company it is today. We look forward to seeing Lester Lee and the Salt Creek Capital team lead the company through its next stage of growth.”
Katelyn Bray, COO and Willa Parker, CMO at Versa Gripps USA, stated “We have a long and proud history of manufacturing world class Versa Gripps to all types of fitness enthusiasts. As a leader in this growing industry segment, our commitment to our valued employees and loyal customer base remains as strong as ever. We are excited about this incredible milestone and look forward to working with Lester Lee and SCC to continue its growth in the future.”
Lester Lee, incoming CEO, added, “Versa Gripps USA has an exciting future ahead of it and I look forward to working with the loyal employees, suppliers, and customers of the Company to build upon the great legacy created by Mike and Heather Parker.”
Jordan Stankowski, Operating Partner at Salt Creek Capital, added, "Versa Gripps USA is an established leader with a history of innovation. We look forward to working alongside Lester, Katelyn, Willa, and the entire team to continue to expand with this great platform.”
About Versa Gripps
Founded in 1998, Versa Gripps USA (www.versagripps.com) is a premier brand of weightlifting grips that enable users to lift more and train better. Versa Gripps are made in America and have been a leader in the fitness accessories industry for over 25 years, selling both domestically and internationally from its headquarters in Sorrento, Maine. The Company provides Versa Gripps to a wide spectrum of weightlifting enthusiasts and demographics who put a high value on quality given the demands of their workouts.
About Salt Creek Capital
Salt Creek Capital is a San Francisco Bay Area-based private equity firm that partners with experienced operating executives to acquire profitable companies with $5 million - $150 million in revenue. Salt Creek Capital takes a long-term approach to investing in lower middle market businesses and seeks to create value by working closely with management teams to accelerate growth and improve operating efficiencies. For more information, please contact Tyler Romrell at email@example.com or visit www.saltcreekcap.com.