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Bailey McCann, Opalesque New York: Greenwich, Connecticut-based North Castle Partners has closed its sixth focused fund on $300 million, after just over six months. The firm invests in health and lifestyle brands and is known for prior investments in companies like Atkins which offers the Atkins Diet brand of foods. Fund six is slightly larger than fund five which closed on $250 million.
Fund six was oversubscribed.
"We welcome our new investors to North Castle and are gratified to receive the support of our returning investors, who increased their commitments by approximately 25%," said Chip Baird, North Castle CEO and Founder.
North Castle has made two investments from the fund so far. The first investment is in HydroMassage. Founded in 1989, HydroMassage offers dry hydrotherapy massage systems in two basic formats -- bed and lounge – that employ a traveling jet system, which is directly controlled by the users for a quick and effective full body massage. The investment was made in April.
In May, North Castle invested in SLT Group (dba Strengthen, Lengthen and Tone) to build a premiere boutique fitness studio operator.
North Castle's current portfolio includes Curves International/Jenny Craig, Barry’s Bootcamp, Palladio Beauty Group, Mineral Fusion, Red Door Spas, Sprout Organics, SmartyPants, Brooklyn Boulders, Ibex Outdoor Clothing, and Turnbridge. Prior portfolio company holdings include Atkins Nutritionals, Contigo, Doctor’s Best, Equinox ...................... To view our full article Click here
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