WM Partners, a Ft. Lauderdale, Fla.-based private equity firm focused on investing in middle-market companies in the health and wellness sector, closed its first fund, at over $307m.
The HPH Specialized Fund 1, LP (together with its parallel fund, HPH Specialized International Fund 1, LP), closed on June 30th, 2017 exceeding WM Partners’ target of $300m, receiving support from various prominent investors from North America, Latin America and Europe, including fund of funds, global private equity investment and advisory firms, insurance companies, and family offices, among others.
It received an anchor commitment from Vanterra Capital while WM Partners’ principals contributed the Fund’s foundational investment through an in-kind contribution of Wellnext Holdings, a nutritional supplements company.
The fund is focused on acquiring lower-middle market companies with leading brands in the Vitamins, Minerals and Supplements (VMS) and Natural Personal Care sectors and integrating them into one consolidated platform, Wellnext.
Headquartered in Sunrise, FL, Wellnext is a vertically integrated manufacturer and marketer of organic and natural plant and food-based supplements sold through specialty retail, natural retail and online / direct to consumer channels.
To date, the fund has closed on three acquisitions which have been integrated into the Wellnext platform, and the team has an active pipeline of proprietary acquisition targets in the VMS sector that it is currently evaluating. It seeks to make equity investments of $15m to $75m in middle-market companies.
WM Partners was founded by Alejandro Weinstein and Jose Minski, who share over 20 years of experience working together. Mr. Weinstein is the former CEO of CFR Pharmaceuticals, where he orchestrated one of the largest IPOs in Latin America and ultimately sold to Abbott Laboratories in 2014. Mr. Minski is the former co-founder and COO of Trolli, Inc., and led the company from a startup venture to its eventual sale to Texas Pacific Group. Mr. Minski also founded Wellnext.