Palladin Consumer Retail Partners Sells KT Tape to Charlesbank-backed Bridges Consumer Healthcare

BOSTON, Jan. 17, 2025 /PRNewswire/ -- 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.

About KT
Based in Utah and founded in 2008 KT has revolutionized the sports medicine industry with the most technologically advanced and recognized kinesiology tape and recovery products. KT Tape kinesiology tape provides localized increase in blood flow to relieve pain and provide support for muscle pain and common injuries. KT is recommended by Physical Therapists and Athletic Trainers for pain relief and support of muscles, ligaments, and tendons. And now, KT has introduced a line of KT Health products to include topical pain relief, diabetes care, ice/heat treatment, footcare, and more. KT Health products are designed to revolutionize the way consumers prepare, perform, and recover from all types of physical activity. The purpose of KT is to provide solutions that empower movement to unleash everybody's potential for everyone from everyday athletes to the pros.

About Bridges Consumer Healthcare
Based in Chattanooga, Tennessee, Bridges' mission is to build a leading consumer healthcare company focused on OTC and personal care products and driven by consumer-led innovation and marketing. For more information, please visit www.bridgeschc.com.

About Palladin
Palladin Consumer Retail Partners ("PCRP" or "Palladin") is a Boston-based private investment firm, founded in 1998, that focuses primarily on the retail and consumer products sectors in North America and Europe.  The Palladin team has a strong investment and operating track record, having invested in, financed, or managed over 100 public and private retail and consumer products companies.  Palladin prides itself on working closely with management teams to create value through strategic and operational initiatives. For more information, please visit https://pcrp.com/.

About Charlesbank
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private investment firm with approximately $19 billion of assets under management as of September 30, 2024. Charlesbank focuses on management-led buyouts, growth capital financings, opportunistic credit, and technology investments. The firm seeks to invest in companies with sustainable competitive advantage and excellent prospects for growth. For more information, please visit www.charlesbank.com.

Media Contacts

Palladin Consumer Retail Partners, LLC
Patricia Donnelly
[email protected] or 617-585-3802

KT Tape
The Brand Amp
Marqui MacLachlan
[email protected] 

Charlesbank Capital Partners 
Alexa Ottenstein / Peter Gavaris
[email protected]

Bridges Consumer Health Care
John Speranza
[email protected]

SOURCE Palladin Consumer Retail Partners, LLC