Gryphon Investors (“Gryphon”), a leading middle-market private equity firm, today announced that it has acquired Vetnique Labs (“Vetnique” or the “Company”). In partnership with founder and CEO James Bascharon DVM, who will remain in his current role and maintain a significant stake in the business, Gryphon will invest in expanding the Company’s product and geographic reach while supporting its mission of developing and delivering clinically proven and highly efficacious products that help pets thrive. Financial terms of the transaction were not disclosed.

Headquartered in Naperville, IL, Vetnique develops a range of specialty pet products including supplements and topical solutions for digestive health, allergy and dermatological support, ear care, active lifestyle, and calming support. For more than a decade, Dr. Bascharon and the Vetnique team have helped pets lead healthier and happier lives through unique, veterinary-formulated products. With nine separate sub-brands, Vetnique is sold domestically and abroad through a variety of channels, including direct to consumer, through pet specialty retail outlets, and through veterinary distributors. The Company is best known for its iconic Glandex supplement and has developed a full range of nose-to-tail solutions featuring clinically proven ingredients.

Gryphon Operating Partner Mike Ferry said, “Vetnique occupies a unique position in the $2 billion pet supplement market as a company with innovative products benefitting from compelling tailwinds. As we continue to see increased use of supplements with companion animals, we believe that Vetnique will stand out as offering differentiated solutions that provide real and lasting benefits for pets.”

Eddie Douglas, Principal in Gryphon’s Consumer Group, noted, “We look forward to partnering with James and his outstanding team at Vetnique, and can’t wait to get to work. After many years of evaluating the overall pet space, we are excited to support Vetnique’s efforts to build the premier pet health and wellness platform. We are impressed with the business to date and are honored to welcome such a unique brand into the Gryphon family.”

Dr. Bascharon commented, “We are delighted to join the team at Gryphon as we enter our next phase of growth. Gryphon is an ideal partner given the firm’s experience in pet and consumer health and its track record of working with professionally recommended brands. We believe this investment will allow us to accelerate the incredible momentum we have built over the last few years.”

Matt Farron, Partner and Head of Gryphon’s Consumer Group, added, “Vetnique is a perfect fit for Gryphon and leverages our proactive focus of investing behind differentiated brands in pet health. We are proud to be working with such an innovator in a thriving sector and to be supporting the team as they build for the future.”

As part of the transaction, Mr. Ferry, Mr. Farron, and Mr. Douglas will join the Company’s Board of Directors. The transaction marks Gryphon’s first investment in the pet products space and second investment in the broader pet health and wellness ecosystem, following its 2019 investment in veterinary support organization Heartland Veterinary Partners.

William Blair & Company, LLC served as the exclusive financial advisor to Gryphon. Raymond James served as financial advisor to Vetnique. Kirkland & Ellis LLP acted as legal advisor to Gryphon.

About Vetnique Labs
Vetnique Labs is a leading pet health and wellness platform on a mission to help pets thrive. Since its founding in 2012 by James Bascharon DVM, the Company, best known for its iconic Glandex supplement, has evolved into one of the fastest growing omni-channel pet brands in the United States. Vetnique’s product portfolio now consists of a holistic ‘nose-to-tail’ range of unique, multi-modal pet health products that are vet-formulated and recommended by vets worldwide. Learn more about Vetnique Labs at www.vetniquelabs.com.

About Gryphon Investors
Gryphon Investors is a leading private equity firm focused on profitably growing and competitively enhancing companies in partnership with management. As of December 31, 2022, the firm has over $8.9 billion of assets under management. Gryphon prioritizes investment opportunities where it can form strong partnerships with founders, owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise. ​ For more information, please visit www.gryphoninvestors.com.

Mechanix Wear®, a leading designer and manufacturer of high-performance work gloves, today announced a planned transition in the senior leadership of the company. Jesse Spungin has been promoted from President and COO to CEO. Former CEO Michael Hale will transition to the position of Vice Chairman of the Board. Michael will be shifting his focus from day-to-day management to legacy guidance and strategic counsel. Mechanix Wear is a portfolio company of Gryphon Investors, a leading middle-market private equity firm.

“Partnering with Gryphon on this planned transition, we decided the time was right to pass the baton to Jesse and his capable leadership,” said Mr. Hale. “My journey with Mechanix Wear has been incredibly rewarding, and I’m extremely proud of what we have all built together. I look forward to remaining actively engaged in the brand and advancing M&A activities, while working alongside the Board and supporting Jesse as he takes on his new responsibilities.”

Founded in 1991 by Jim Hale, Mechanix Wear is the leader in automotive, construction, industrial, and tactical hand protection. A globally recognized brand, Mechanix Wear delivers superior performance, quality, and reliability and has gained a loyal and growing following of passionate consumers. Headquartered in Valencia, California, the company sells its products in more than 20,000 retail store locations across more than 70 countries and through industrial distributors.

Mr. Spungin joined Mechanix Wear in 2019 and has been responsible for leading global Sales, Marketing, and Operations. Prior to joining the company, he was President at K&N Engineering, the industry leader in automotive filtration and technology and a previous Gryphon portfolio investment.

Mr. Spungin said, “I am gratified to be heading a great team at such a prominent brand and platform in the Personal Protective Equipment (PPE) sector. Jim and Michael Hale built Mechanix Wear into a brand with a towering reputation for superior hand protection, and I am committed to continuing to produce work gloves and other PPE that consumers around the world consistently associate with innovation, quality, and protection.”

“We believe Jesse will offer thoughtful guidance as he takes over the operational leadership of the company,” said Dennis O’Brien, Gryphon Operating Partner and Chairman of the Board of Mechanix Wear. “Since joining Mechanix Wear, he has become an expert in the business and brings differentiated cross-functional leadership skills that will help shape the long-term future of the company and enable it to thrive.”

Ryan Fagan, Managing Director at Gryphon, added, “We are very pleased with our partnership with Mechanix Wear and with Michael, under whose leadership the company has experienced tremendous growth. We all have the highest confidence in Jesse’s ability to take the wheel and maintain that winning pace.”

About Mechanix Wear®
Since the debut of The Original® work glove at the 1991 Daytona 500, Mechanix Wear (www.mechanix.com) has been at the forefront of hand protection and has continued to create products that meet the evolving needs of professionals working in industries such as automotive, construction, military, and industrial safety. With a mission to look beyond conventional ideas and continually innovate the most advanced products for working hands, Mechanix Wear has built a reputation as The Tool That Fits Like a Glove®.

About Gryphon Investors
Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. As of December 31, 2021, the firm has over $9 billion of assets under management. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.

Leading global nutritional supplement company Metagenics today announced it has named Pat Smallcombe, a current Board member and experienced industry executive, as President and CEO, effective February 13. Former Metagenics President and CEO Brent Eck has accepted a new role as Advisor to the Board after a successful seven-year tenure leading the company. Metagenics is a portfolio company of Gryphon Investors, a leading middle-market private equity firm.

Ryan Fagan, Managing Director in Gryphon’s Consumer Group, said, “We are excited to welcome someone of Pat’s caliber to succeed Brent in the CEO role. Pat has extensive experience successfully growing consumer health businesses around the world, and his leadership will be invaluable as the company seeks to expand its already strong global footprint.”  

Prior to his work with Metagenics, Mr. Smallcombe had a long and successful career in the consumer healthcare industry across many different business models and geographic markets, including Asia, Australasia, Europe, and North America. His most recent corporate role was serving as Company Group Chairman of EMEA for Johnson & Johnson, where he led a $3.5 billion portfolio of consumer health brands. He has also recently served as the Chairman of Sibelius Natural Products, an Oxford University spin-off that researches and develops clinically efficacious plant extracts.

“The health and wellness sector is at an inflection point, with consumers worldwide seeking greater access to innovative and proven nutritional solutions to their health concerns,” said Steve LaMonte, Metagenics Executive Chairman of the Board. “Pat is the perfect choice to help the business capitalize on the many growth opportunities it has before it.”

Mr. Smallcombe said, “As a Board member working with many of the senior executives across markets and functions, I have been able to gain a deep understanding of the strengths and opportunities ahead for Metagenics. Having begun my career as a research scientist, I have tremendous respect for the company’s science-backed heritage and believe in the organization’s commitment to improving health outcomes in partnership with healthcare practitioners.”

About Metagenics 
Founded in 1983 and based in Aliso Viejo, CA with facilities in North America, Europe, Asia and Australia, Metagenics is a leading global nutritional supplement company. With a heritage of breakthrough science, innovative products, unsurpassed quality, practitioner education, and dedicated partnerships, it is clear why Metagenics has become one of the most trusted health and wellness brands worldwide. For nearly 40 years, Metagenics has delivered high-quality, science-based nutritional supplements, medical foods, and lifestyle programs to support healthcare practitioners in their efforts to help patients achieve their health and wellness goals. For more information, visit www.metagenics.com.

About Gryphon Investors
Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. As of December 31, 2021, the firm has over $9 billion of assets under management. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.

Metagenics, Inc. (“Metagenics” or the “Company”), a leading global nutritional supplement company, today announced that it named Gavin J. Lindberg as Chief Financial Officer, effective January 17. Mr. Lindberg brings more than 25 years of financial leadership, along with deep experience driving international consumer brand growth, to this newly created position. Metagenics is a portfolio company of Gryphon Investors, a leading middle-market private equity firm.

Founded in 1983 and based in Aliso Viejo, CA with facilities in North America, Europe, and Australia, Metagenics creates clinically proven and science-based programs and products to support good health. For over 35 years, Metagenics has partnered with healthcare practitioners who recommend its nutritional products to support their patients’ health with measurable results.

Metagenics CEO Brent Eck said, “We welcome Gavin to our Company. His success leading international teams and his proven ability to drive sustained and profitable growth for brands will be invaluable as we continue to develop new products, enter new markets, and invest for the future through both organic expansion and strategic acquisitions.”

Mr. Lindberg spent the bulk of his career at Nike, Inc., in a variety of senior finance positions, culminating in VP, CFO, Product Innovation & Brand. In that role, he led financial planning and brand marketing projects to revamp business models across the Nike, Converse and Jordan brands. During his career at Nike, Mr. Lindberg led teams across CFO roles in Japan, Greater China and EMEA. Immediately prior to joining Metagenics, he spent one year as CFO at JustFoodForDogs, a maker of fresh food for dogs, where he negotiated omni-channel marketplace partnerships and implemented new ERP systems and accounting processes. Mr. Lindberg holds a B.A. in Finance from the University of Oregon and an MBA from the University of Portland.

Ryan Fagan, Managing Director in Gryphon’s Consumer Group, commented, “We couldn’t be more pleased with the accomplishments the Metagenics team has made during the first year of our partnership.  Over the past year, the Company acquired U.K. supplements retailer NutriAdvanced and was certified as a global B Corporation, signifying that it meets the highest standards of performance, accountability, and transparency. Gavin’s experience driving brands will be an enormous asset as we look to take advantage of these tailwinds and continue the Company’s growth.”

Mr. Lindberg said, “I am excited to join such a respected leader in the health and wellness category. I look forward to working closely with Metagenics management and the Gryphon team to advance the Company’s global mission of providing effective nutritional solutions recommended by healthcare professionals to help people live healthier lives.”

About Metagenics
Founded in 1983 and based in Aliso Viejo, CA with facilities in North America, Europe, and Australia, Metagenics is a leading global nutritional supplement company. With a heritage of breakthrough science, innovative products, unsurpassed quality, practitioner education, and dedicated partnerships, it is clear why Metagenics has become one of the most trusted health and wellness brands worldwide. For nearly 40 years, Metagenics has delivered high-quality, science-based nutritional supplements, medical foods, and lifestyle programs to support healthcare practitioners in their efforts to help patients achieve their health and wellness goals. For more information, visit www.metagenics.com.

About Gryphon Investors
Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. As of December 31, 2021, the firm has over $9 billion of assets under management. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.