Topspin invests in bodybuilding supplements

Topspin Partners LBO, the buyout-focused successor to venture and buyout investor Topspin Partners, has made its second investment in IDS Sports. The firm closed its debut buyout fund on $132m in July.

Topspin Partners LBO has purchased a majority stake in nutritional supplement company IDS Sports from its founders for an undisclosed amount.

Oviedo, Florida-based IDS sells bodybuilding and protein supplements through distributors including GNC, Vitamin Shoppe and Vitamin World.

Topspin Partners LBO was launched by the three buyout-focused investment professionals from Topspin Partners, a $213 million fund closed in 2000 that targeted both venture capital and buyouts.

The firm closed its buyout fund on $132 million in July after initiating its fundraise in early 2007.

Topspin Partners LBO invests throughout the continental US with a focus on Long Island, New York, where the firm is based. It intends to make between 10 and 12 control investments in lower mid-market companies with enterprise values of between $15 million and $50 million out of the current fund.

The fund has made one investment to date in Brooklyn, New York-based art supplies retailer Utrecht Manufacturing. The company was acquired in August 2007 in partnership with Boston-based boutique merchant bank Madison Parker Capital from Greenwich, Connecticut-based private equity firm Brynwood Partners.