Minneapolis, MN, May 2015 – Spell Capital Mezzanine (“Spell”) is pleased to announce a mezzanine debt and equity co-investment in Lone Star Distribution LLC (“Lone Star” or the “Company”) as part of the acquisition of the Company by Sheridan Legacy Group and industry veteran Gary Giles.
Lone Star, headquartered in Dallas, TX, is a national wholesale distributor of sports nutrition and fitness products, including protein powders, creatine, bars, muscle enhancers, workout supplements, sleep aids and immune boosters, vitamins, weight loss supplements, and energy boosters. Lone Star operates six distribution centers located in Dallas, TX, Atlanta, GA, Indianapolis, IN, Shelton, CT, Pompano Beach, FL, and Las Vegas, NV.
“Lone Star provides a valuable service to a highly diverse customer base in a growing industry,” said Andrew Leonard, Managing Director of Spell Capital Mezzanine. “We are pleased to invest alongside Sheridan Legacy Group and Gary Giles. The experience of Gary Giles and the resources of Sheridan Legacy Group are an exciting combination that will help Lone Star continue on its path of growth and success.”
About Spell Capital Mezzanine
Spell Capital Mezzanine provides subordinated debt and non-control equity to businesses in a variety of industries across the United States. We finance leveraged acquisitions backed by lower middle-market private equity sponsors, management and family driven ownership transitions, add-on acquisitions, recapitalizations and growth initiatives.
About Sheridan Legacy Group
Sheridan Legacy Group, headquartered in Chicago, IL, focuses on making private equity investments in leveraged buyouts, recapitalizations and large minority financings of growing lower middle market growth companies with enterprise values between $20 million and $150 million within the healthcare and consumer sectors.