KT Tape LLC (or “KT”), a portfolio company of Palladin Consumer Retail Partners, LLC (“Palladin” or “PCRP”), announced that it has been acquired by Bridges Consumer Healthcare, LLC (“Bridges”), which is backed by Charlesbank Capital Partners (“Charlesbank”), a middle market private investment firm.
Founded in 2008 by John MacKay, Ryan Dewey, Reed Quinn and Jim Jenson, KT Tape has been a pioneer in providing drug-free, innovative solutions to relieve pain and promote recovery. The company partnered with Palladin in 2014 and has earned high customer advocacy with products that appeal to all consumers from professional athletes to those seeking effective relief from everyday pain and soreness. The addition of KT to Bridges represents the next phase of growth for the brand, with additional investment in demand generation, product innovation and omnichannel distribution as part of the Bridges platform.
“Palladin has been a strong partner for KT, helping us diversify our products across all major distribution channels,” said Jessica Klodnicki, CEO at KT Tape. “Today’s announcement marks an exciting new chapter for KT, positioning us to reach even more customers and continue to drive meaningful innovation through the added scale of the Bridges platform. We have been impressed by Bridges’ leadership and depth of expertise across several consumer health verticals, as well as the Company’s steadfast focus on its customers, and are thrilled to have found another collaborative strategic partner that shares a similar vision for the future of our business.”
“We are excited to join forces with KT Tape to advance our shared goal of delivering innovative over-the-counter healthcare solutions to improve our customers’ everyday health and quality of life,” said John Speranza, CEO at Bridges Consumer Healthcare. “KT’s innovative solutions enhance Bridges’ already-strong position in pain relief, alongside our current brands in the external pain category, ThermaCare and Absorbine Jr. As we begin executing on our vision for growth, we look forward to exploring partnerships with similar brands that can help us scale further.”
John MacKay, founder of KT, added, “We started the company with the vision of becoming a household name and a leader in drug-free pain relief. KT now not only is the market leader in kinesiology tape but also has expanded to provide a loyal customer base with innovative products in therapeutic creams, sleeves, ice/heat treatment, footcare and even diabetes care with adhesives for glucose monitors. Our expectations have been fulfilled, and we look forward to seeing KT and Bridges together forge an even more innovative healthcare company serving a wider range of needs for customers across North America”.
Mark Schwartz, CEO of Palladin, said, “It has been a pleasure working with the founders of KT, Jessica and the entire leadership team to build a leading consumer product company providing health and wellness solutions for athletes at all levels. We’re confident that Bridges will be a good platform for KT’s next stage of growth”.
“Since its formation, Bridges has demonstrated a strong track record of growth, scaling both organically and through M&A, and we are thrilled to welcome another marquee brand like KT to the Bridges family,” said Jesse Ge, Principal at Charlesbank. “This marks an exciting milestone for the Bridges team, as they continue to build a leading consumer healthcare company.”
Palladin and KT were represented by Houlihan Lokey and advised by Latham & Watkins, RSM US and Andersen. Weil, Gotshal and Manges served as legal counsel to Bridges and Charlesbank.
