LO3 Capital Invest in Versa Gripps

LO3 Capital, a private investment firm committed to providing lower-middle market companies with transformative capital, announced today that it provided a senior subordinated debt and preferred equity investment to support the acquisition of Versa Gripps by Salt Creek Capital, LLC.

Headquartered in Sorrento, MaineVersa Gripps invented and manufactures the premiere brand of weightlifting grip aid, the Versa Gripp. Versa Gripps are made in America and have been a leader in the fitness industry for over 25 years.

Dan Price, Salt Creek partner, stated, “The Parker family built a superior product and a great business. We’re eager to marry Salt Creek’s operational excellence and long-term approach with Versa Gripps, an industry leader with a longstanding reputation for quality.

“We’re looking forward to working with the Salt Creek team and are excited to make Versa Gripps the first transaction in LO3’s newly launched SBIC fund,” said Glenn Harrison, LO3’s managing partner. “Versa Gripps is well positioned, and we are excited to support Salt Creek as they execute on their vision.”

About LO3 Capital
LO3 Capital is a minority owned private investment firm committed to helping lower-middle market companies grow. The firm has offices in NashvilleNew York and Dallas and targets business with over $3 million of EBITDA across a variety of industries. LO3 Capital partners with management teams, business owners, and private equity firms to finance organic growth, acquisitions, recapitalizations, and ownership transitions.  LO3 Capital was previously a division of Live Oak Growth Capital and continues to manage the Live Oak Growth Capital funds. For more information, please visit lo3capital.com.

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, visit www.saltcreekcap.com.