Invests $8 million in globally recognized producer of plant-based omega-3 supplements and protein.
HOUSTON, January 18, 2022 – GP Capital Partners, LP (“GP Capital Partners” or the “Fund”) is pleased to announce a recent strategic growth investment in Qualitas Health d/b/a iwi (“iwi” or the “Company”), a globally recognized producer of plant-based omega-3 and protein products marketed direct-to-consumer and to retailers across the United States.
The $8 million investment by Houston-based GP Capital Partners consisted of $5.5 million in senior secured term debt and a $2.5 million direct equity investment. The Company will use the proceeds to accelerate sales of its existing products while the Company ramps up development, marketing and growth of its new protein-based product and enters new international markets.
Headquartered in Houston, Texas, the Company has disrupted the algae-farming paradigm by growing its distinctive microscopic algae in cultivation pond systems the size of football fields built on non-arable land in the deserts of New Mexico and Texas. The Company’s products are designed for applications in personalized nutrition, high-performance sport nutrition products and adult nutrition for protein deficiencies.
GP Capital Partners joins iwi’s world-class family of investors including Grupo Indukern, Gullspång Re:food VC, PeakBridge VC, Arancia Group, Trucent, SASA and Minrav.
Gina Luna, Principal of the Fund, said: “We are excited about our investment in iwi. They have a proprietary and scalable process to create in-demand products in a sustainable manner. We look forward to working with iwi’s management team as they pursue this transformative opportunity.”
Miguel Calatayud, CEO of iwi, said: “The iwi team looks forward to working with GP Capital Partners following their investment in our growing company. We have big plans for accelerating our growth, and are pleased to partner with this team that brings both expertise and relationships to support us in this new stage of the company.”
iwi is a food and nutrition company that sustainably grows a unique algae, Nannochloropsis, in the deserts of Texas and New Mexico, using nonarable land, saltwater and the sun as main source of energy. iwi’s process consumes hundreds of tons of CO2 to release oxygen and produce a very unique protein and a proprietary omega-3 with the highest absorption in the market. iwi products are available directly through the Company’s website www.iwilife.com as well as several retailers such as Whole Foods, Sprouts, Vitamin Shoppe, Central Market, Kroger, and Amazon. In 2022, iwi will be launching a unique line of protein solutions. iwi’s purpose is simple, “together we create sustainable food solutions for everyone and our planet.” For more information, visit www.iwilife.com
About GP Capital Partners, LP
GP Capital Partners is a Houston-based private credit and equity investment firm licensed as a Small Business Investment Company (“SBIC”) by the U.S. Small Business Administration. The Fund supports growth and later stage small businesses in the lower middle market through flexible capital solutions and strategic guidance. The Fund generally targets companies with at least $10 million of revenue and $2-10 million of EBITDA, with proven business models and seasoned management teams. Founded and managed by four experienced investment professionals with broad regional relationships, GP Capital Partners is committed to partnering with the companies and management teams in which it invests to facilitate growth, transition, and success. For more information, visit www.genesis-park.com.
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