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CHARLOTTE, N.C., Aug. 08, 2017 -- Blue Point Capital Partners announced today that it has sold its interest in OrthoLite to Trilantic North America. OrthoLite was a portfolio company in Blue Point III – the Firm’s 2014 vintage, $425 million lower middle-market buyout fund. Sale terms were not disclosed.
“We are extremely proud of the value created at OrthoLite during our hold period; the strength of the management team and business model enabled the Company to more than double earnings while generating significant cash flow,” said Juli Marley, a Partner with Blue Point. "We assisted Glenn to expand the Company’s global infrastructure and make numerous additions to the management team to support the terrific growth generated during our ownership period.”
Blue Point made its initial investment in April 2014, recognizing the value proposition that OrthoLite provided to its customers. Glenn and his team created a category and assisted their brand customers to create greater comfort for the end consumer. Blue Point saw the opportunity to assist in providing human capital and infrastructure to support the Company’s growth.
“Our Company experienced significant momentum while partnered with Blue Point. Blue Point’s presence in Asia, resources and understanding of our category made them a great first institutional partner for us,” said Glenn Barrett, Chief Executive Officer of OrthoLite. “We look forward to working with Trilantic North America, and its experience in consumer products, as we continue our global expansion.”
"We feel very fortunate to have partnered with Glenn, Pam and the rest of OrthoLite’s talented management team to recapitalize such a wonderful business,” said Jeff Robich, a Principal with Blue Point. “We wish them continued success as they enter their next phase of growth with Trilantic North America."
OrthoLite (www.ortholite.com), headquartered in Amherst, Massachusetts, is the world’s leading supplier of open-cell foam technology found in over 400 million pairs of athletic, casual, dress, work, and outdoor shoes annually. OrthoLite technology can be found in over 250 of the world’s leading footwear brands such as Nike, Clarks, Adidas, ASICS New Balance, Vans and Timberland. OrthoLite’s proprietary open-cell foam technology combines polyurethane and recycled rubber to provide superior cushioning, comfort, performance and breathability unmatched by any other insole manufacturer. In addition to shoe insoles and linings, OrthoLite technology is used in clothing, sporting equipment, backpacks and furniture. OrthoLite is a global, vertically integrated company with sales offices in the United States, Vietnam, Asia and Europe as well as manufacturing facilities in China, Vietnam, Indonesia and Korea.
Trilantic North America (www.trilantic.com) is a private equity firm focused on control and significant minority investments in North America. Trilantic North America’s primary investment focus is in the business services, consumer and energy sectors. Trilantic North America currently manages four private equity funds with aggregate capital commitments of $5.9 billion.
Blue Point Capital Partners (www.bluepointcapital.com) is a private equity firm managing over $825 million in committed capital. With offices in Cleveland, Charlotte, Seattle and Shanghai, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors, while providing the resources of a larger, global organization. The Blue Point group has a 27-year track record of partnering with companies in the lower middle-market to facilitate growth and transformative change. It is one of only a few middle market private equity firms with a presence in both the United States and China, which provides a distinct advantage for its portfolio companies. Blue Point typically invests in manufacturing, distribution and service businesses that generate between $20 million and $200 million in revenue.
For more information, contact: BLUE POINT CAPITAL PARTNERS Juli Marley Partner Blue Point Capital Partners, LLC 201 South Tryon Street, Suite 850 Charlotte, NC 28202 (704) 347-8842 [email protected] ORTHOLITE Mark LaVoie Prosek Partners (212) 279-3115 ext. 233 [email protected]
