Sandbridge Capital, a private equity firm focused on growth equity investments in the consumer brand sector, acquired a minority stake in BackJoy Orthotics LLC.
According to a company press release, the investment will be used to help fund BackJoy’s global growth and accelerate the company’s new product pipeline rollout, particularly its proprietary apparel and footwear lines. Ken Suslow, MBA, Sandbridge Capital managing partner, will join BackJoy’s board of directors.
“BackJoy’s strong leadership team has created an innovative and trusted brand platform with a significant global growth tailwind that provides for a uniquely compelling investment opportunity, one that is right up our power alley as a firm,” Suslow stated in the release. “As such, we are highly enthused to be partnering with this talented management team as they continue to capitalize on their impressive growth initiatives.”
“This timely partnership between BackJoy and Sandbridge will enable the company to accelerate its already well-established global distribution network and launch new revolutionary products,” Ron Snyder, chairman of BackJoy Orthotics, stated. “The Sandbridge team brings vast experience in brand building, sourcing and distribution that will greatly enhance BackJoy’s impressive position in the fast growing global wellness market.”
“Sandbridge brings value that goes far beyond that of a financial partner,” Bing Howenstein, founder and CEO of BackJoy, stated. “In a world where the rules of wholesale, retail and e-commerce are continually evolving, they have an unparalleled understanding of what it takes to build exceptional consumer facing brands. We are busy creating a new category where function, specifically good posture, can also be fashionable. I cannot imagine a better partner to help us accomplish our goals.”
