Topspin Consumer Partners, an operationally driven private equity firm focused on the consumer sector, announced a strategic investment in Grid, a leading U.S. designer and manufacturer of laminate and phenolic lockers and performance flooring solutions for fitness, athletic team sports, and health and wellness facilities. Financial terms of the transaction were not disclosed.
Founded in 2020, Grid has rapidly positioned itself as a trusted partner to national fitness chains including Crunch Fitness, EōS Fitness, 24 Hour Fitness, and VASA Fitness, as well as YMCA organizations, colleges, K-12 athletic programs, country clubs, spas, healthcare facilities, and workplaces. The company operates a vertically integrated, one-stop-shop model that spans design, manufacturing, logistics, and installation, delivering branded, site-specific solutions through exclusive and preferred vendor agreements.
Grid’s vertically integrated approach enables it to offer mass-customized solutions using standardized, domestically sourced materials. Its product suite includes laminate and phenolic lockers, rubber and turf flooring, and custom trims. By managing delivery and installation in-house, Grid ensures projects are completed efficiently and on schedule.
The investment marks the second commitment from Topspin Consumer Partners III, the firm’s latest flagship private equity fund. Topspin focuses on established, profitable, and fast-growing middle-market consumer businesses across sectors including health and wellness, personal care, beauty, food and beverage, household goods, pet, and children’s products, as well as consumer and retail business services and technology solutions.
With the new capital and operational support, Grid plans to accelerate its next phase of growth as demand for upgraded and newly built health and wellness facilities continues to expand across the United States.
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“We have had the opportunity to get to know Topspin over several years, initially through one of its portfolio companies in 2021. Through this relationship we have seen first-hand the valuable financial and operational guidance, as well as their highly collaborative partnership approach. Topspin has remained an active partner, offering strategic insights and genuine support for our vision. I am excited to take this partnership to the next level and leverage Topspin’s expertise and resources as we embark on this next phase of growth.”
Drew White, Founder And CEO Of Grid
“We are thrilled to partner with Drew and the entire Grid team at this exciting inflection point. Grid exemplifies the type of founder-led business we seek to back – one with a clear vision, a differentiated market position, and a relentless focus on innovation and customer experience. As demand for health and wellness facilities continues to grow and operators invest in upgrading their spaces and building new ones, Grid is exceptionally well positioned to lead the market with its U.S.-manufactured solutions. We look forward to supporting Drew and his team as they scale the business and help define the next generation of industry standards.”
Stephen Parks, Partner At Topspin Consumer Partners
