On March 30, 2012 the investors in Airborne, Inc. – including GF Capital Private Equity Fund, Stockton Road Capital, and Management (the “Investors”) – sold the stock of Airborne to Schiff Nutrition International, Inc. (symbol: WNI) for $150 million in cash. The realization represented a very attractive gain on the Investors’ original investment in October of 2009.
Stockton Road Capital thanks GF Capital, Marti Morfitt and Management for their partnership and for the opportunity to support them in this transaction. GF Capital uniquely appreciated the value of the Airborne brand and provided expert governance leadership that helped maximize the outcome for the Investors. Management, led by Marti Morfitt who joined Airborne as CEO at the time of the investment, were able to drive exceptional results for the business, which required a turnaround at the time of the Investors’ original purchase.
In addition to its investment, Stockton Road supported GF Capital and Management through:
- Unique deal sourcing, diligence insight and market intelligence
- Targeted consumer packaged goods expertise
- Board participation and operational advisory support
- Strategic exit advisory support
Stockton Road also congratulates and thanks Schiff Nutrition and its investors, including TPG Growth, and the respective advisors in the transaction, Houlihan Lokey acting as advisor to Schiff, and Sawaya Segalas & Co. acting as advisor to Airborne.
Joe Rhodes, Managing Partner of Stockton Road Capital stated, “This was a unique and proprietary transaction – which is a credit to the buying group and the creativity of the advisors. Airborne is a special product and brand equity in the consumer healthcare segment, and is poised for strong continued growth under Schiff Nutrition’s management and obvious expertise.”
The transaction marks the second material realization in the Nutrition Sector for the Partners of Stockton Road Capital in the last two years, in addition to two other notable investments in the sector, making Stockton Road one of the most active investors in the Nutrition and Consumer Healthcare space over that timeframe.
Stockton Road Capital
Stockton Road Capital is a specialized private equity investor and advisor focused on the Consumer Products sector. Please visit www.stocktonroadcapital.com.