Integrity Nutraceuticals has purchased Cornerstone Research & Development from private equity firm Sun Capital Partners Inc.
Ogden, Utah-based Cornerstone develops, produces and packages more than 600 capsule, tablet and powder products for customers in the vitamins, minerals and supplements industry. Terms of the deal were not disclosed.
Integrity, headquartered in Spring Hill, Tenn., supplies ingredients including amino acids and joint and other health care items. The company is backed by HIG Growth Partners, a unit of PE firm HIG Capital, which recapitalized the company in January.
Sun Capital invested in Cornerstone in 2012, and the firm says the target was able to double its Ebitda in about two years. The Boca Raton, Fla.-based firm has invested in more than 335 companies since it was founded in 1995. So far in 2014, the firm bought Aclara Technologies LLC, which provides services to utilities, and Flexible Foam Products Inc., a foam maker.
Houlihan Lokey served as Cornerstone's financial adviser.
In a similar deal, in February, Kainos Capital bought InterHealth Nutraceuticals Inc.