Salt Creek Capital Acquires Versa Gripps USA
March 8, 2023
Salt Creek Capital has acquired Power Gripps USA, dba Versa Gripps USA, the Sorrento, Maine-based manufacturer of American-made weightlifting grips and accessories, from founders Mike and Heather Parker. The deal brings Salt Creek (with backing/financing from LO3 Capital SBIC reported by other sources) ownership of the business to support the next stage of growth under incoming CEO Lester Lee.
- Buyers
- Salt Creek Capital, LO3 Capital (SBIC)
- Targets
- Versa Gripps USA (Power Gripps USA)
- Sellers
- Mike Parker, Heather Parker
- Industry
- Consumer Products
- Location
- Maine, United States
- Transaction Type
- Buyout
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