Purivitae Ventures (PV), a Clayton-based investment firm focused on consumer health brands and products, is building out its portfolio through an acquisition of an e-commerce brand.
PV said Monday it plans to acquire Jacksonville, Florida-based Quadropress, which sells fitness equipment online. Financial terms of the deal were not disclosed.
Launched in 2021, PV seeks out investment partnerships and in-house brand development in the health and wellness sectors. It developed out of the desire by the management of Clayton-based private equity firm Oakland Capital Partners to find more opportunities in the health and wellness space. While PV is a separate entity from Oakland Capital, with PV co-founder and President Tim Austin having no affiliation with the private equity firm, Oakland Capital principals Michael Amann, Tom Carnahan and Peter Benoist Jr. are partners at PV.
PV’s purchase of Quadropress adds to its portfolio a seller of at-home workout devices and accessories, with its flagship product being a push-up machine. Husband and wife Russ and Jessica Bergman launched Quadropress, which PV says has less than five employees.
"Earlier this year, we detailed PV’s vision to bring revolutionary products and category-leading companies to the market," said Austin. "The acquisition of Quadropress is an exciting opportunity to build upon that vision, enhance our e-commerce capabilities, and deepen our roots in the fitness sector. The Quadropress team has done an excellent job building a scalable eCommerce platform.”
Following the closing of the acquisition, PV said, Russ Bergman will continue on with the Clayton-based investment firm as an adviser to the e-commerce business.
"We are excited to become a part of the Purivitae family," Russ Bergman said in a news release. "As part of PV, we can expand our fitness product offerings at a faster rate while offering PV portfolio companies a platform to introduce new products and reach new customers."
Quickly launching products to consumers is a key aspect of PV’s investment thesis. In November, the firm announced it inked a strategic partnership with MTS, a medical device and health products manufacturer in Bangkok, Thailand. The deal involves MTS manufacturing the products in the St. Louis firm's portfolio. That partnership, Austin said, will help potential portfolio brands move more quickly into producing their products.
In addition to Quadropress, PV’s portfolio includes Argento Selection, a tubing product for continuous positive airway pressure (CPAP) machines that includes antimicrobial technology, and Dirt Product Group, a brand the firm is developing internally to commercialize a collection of products focused on health and fitness. Dirt Product Group plans to launch a pain-relieving gel and kinesiology tape.
