WM Partners LP
WM Partners LP is a middle-market private equity firm founded in 2015 that acquires lower-middle-market health and wellness brands via $15M-$75M equity checks, deploying operational buy-and-build strategies across three funds totaling over $1 billion in commitments.
- Company typePrivate
- Founded2015
- HeadquartersFort Lauderdale, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What WM Partners LP does
WM Partners LP is a middle-market private equity firm founded in 2015 and headquartered in Aventura, Florida, focused exclusively on the health and wellness sector. The firm acquires lower-middle-market companies (revenues typically $15M-$100M) with equity checks of $15M-$75M, targeting leading brands across vitamins/minerals/supplements (VMS), functional foods, natural personal care, and natural OTC remedies. The firm has raised three successive funds: HPH Specialized Fund 1 ($307M, 2017), HPH II ($550M, 2021), and HPH III (initiated 2023), with over $1B in aggregate investor commitments and more than $1.1B deployed in the sector.
The firm's business model rests on operational buy-and-build value creation, deploying capital through a diversified portfolio of 14 brands including Allergy Research Group, Primal Harvest, Vega, Jade Leaf Matcha, Raw Sugar, Great Lakes Wellness, Ultima, NeoCell, Natural Vitality, and STOP AGING NOW. Portfolio companies operate across multiple distribution channels: healthcare practitioner (HCP), natural/specialty retail, mass/grocery, DTC e-commerce, and Amazon. Under HPH III, the firm has consolidated the HCP channel under the Allergy Research Group platform, executing add-on acquisitions such as Metabolic Maintenance (January 2025). Fund I was fully liquidated in 2018 with the $700M sale of Nutranext to The Clorox Company, providing the track record that underwrote Fund II's 37.5% oversubscription against its $400M target.
The firm generates revenue through traditional private equity economics: management fees on committed capital across its funds and carried interest upon successful realizations. Its go-to-market combines proprietary relationship-driven deal sourcing with selective advisor-led processes. The firm is NAIC-certified as diverse-owned, a UN PRI signatory, and an ILPA Diversity in Action signatory, positioning it favorably with institutional LPs that mandate DEI and ESG exposure. The senior team, led by Co-Founder/CEO Jose Minski and Managing Partner/CIO Ernesto Carrizosa, includes former entrepreneurs and operators with 340+ aggregate years of health and wellness investment and operating experience.
WM Partners LP firmographics
Firmographics- Name
- WM Partners LP
- Legal name
- WM Partners, LP
- Website
- http://wmplp.com/
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- WM Partners LP is a middle-market private equity firm founded in 2015 that acquires lower-middle-market health and wellness brands via $15M-$75M equity checks, deploying operational buy-and-build strategies across three funds totaling over $1 billion in commitments.
- Ownership category
- akta.pro rank
WM Partners LP industry classification
Industry- Product category
- Private Equity (Health and Wellness Sector)
- NAICS
- Portfolio Management and Investment Advice (523940)
- SIC
- Life Insurance (6311)
- akta.pro primary industry
- Venture Capital Fund-of-Funds / Multi-Manager Platforms (FSANAAAJ)
Keywords
Where WM Partners LP is headquartered
LocationHeadquarters
- HQ city
- Fort Lauderdale
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
WM Partners LP business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Management fees and carried interest from fund operations: As a private equity firm, WM Partners generates revenue through management fees charged on committed capital across its funds (HPH I, HPH II, HPH III) and carried interest (performance fees) upon successful fund exits and realizations.
- Portfolio company operations (historical): Prior to establishing the current fund structure, WM Partners operated Wellnext/Nutranext as a vertically-integrated manufacturer and marketer of nutritional supplements generating product revenues through retail, e-commerce, and DTC channels. This platform was sold to The Clorox Company for $700 million.
Go-to-market motion2 records
Distribution channels6 records
Marketing channels5 records
WM Partners LP product offering
Product offeringCore offering
WM Partners LP is a private equity firm that manages three sector-dedicated funds (HPH Specialized Fund 1, HPH II, and HPH III) investing equity capital of $15M–$75M per transaction into lower-middle market companies in the health and wellness sector. The firm acquires controlling or majority stakes in branded companies across Vitamins/Minerals/Supplements, Functional Foods, Natural Personal Care, and the Healthcare Practitioner Channel, then applies an operational buy-and-build strategy to scale and ultimately exit the platforms. WM Partners does not sell products directly to end consumers; its offering is institutional investment fund management combined with hands-on operating support for portfolio brands.
Product overview
WM Partners LP is a private equity firm specializing in buyout investments in the health and wellness sector. The company's product/service offering consists of acquiring and building portfolio brands across Vitamins, Minerals & Supplements, Functional Foods, and Natural Personal Care categories. Their portfolio includes 14 distinct brands: Metabolic Maintenance, Primal Harvest & Prime6, Allergy Research Group, Raw Sugar, Vega, Jade Leaf Matcha, FGO, Great Lakes Wellness, Ultima, NeoCell, Natural Vitality, STOP AGING NOW, True Health, and Rainbow Light. These brands are organized across three investment funds (Fund I, Fund II, Fund III) and operate across multiple channels including healthcare practitioner, e-commerce/DTC, retail, natural channel, and mass market.
Differentiator
Problem solved
Functional benefit
Brands
- Metabolic Maintenance: Premium physician-recommended nutritional supplements with focus on mental well-being
- Primal Harvest
- Prime6
- Allergy Research Group (ARG)
- Raw Sugar
- Vega
- Jade Leaf Matcha
- FGO
- Great Lakes Wellness
- Ultima
- NeoCell
- Natural Vitality
- STOP AGING NOW
- True Health
- Rainbow Light
- Nutri-Link
Products and services
- HPH Specialized Fund 1, LP (Fund I) Sector-dedicated lower-middle market private equity fund focused on acquiring companies with leading brands in the Vitamins, Minerals & Supplements (VMS) and Natural Personal Care sectors and integrating them into the Wellnext platform; equity investments of $15 million to $75 million per transaction. Sold for $700M in 2018.
- HPH II Investments Master Fund, LP (Fund II) Second sector-dedicated private equity fund focused on acquiring middle market companies with leading brands in the health and wellness sector across functional foods, natural personal care, and natural OTC remedies; deployed via operational buy-and-build strategy.
- HPH III Investments, LP (Fund III) Third sector-dedicated private equity fund focused on the healthcare practitioner channel and adjacent health and wellness subsectors, executing add-on acquisitions under platform companies such as Allergy Research Group.
Quantifiable outcome
- Fund I ($307M) fully liquidated in 2018 for $700M
- +4 more outcomes
Companies that use WM Partners LP
Customer profileNamed customers13 records
Segments3 records
Ideal customer profiles2 records
WM Partners LP technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
WM Partners LP partnerships and signals
Strategic signalPartnerships
28 partnerships are on record, tiered portfolio platform, legal advisor, sell-side advisor, advisors, financial advisor, key advisor, advisory, exclusive advisor, community/industry, industry association, network partner, charitable partner, community partner and standards body.
- Allergy Research Group (ARG)portfolio platformAllergy Research Group LLC is a WM Partners portfolio company (acquired July 2023) that acquired Metabolic Maintenance in January 2025. ARG serves as the platform for the healthcare practitioner channel strategy under Fund III (HPH III), leveraging ARG's leading position and expertise to scale and integrate add-on acquisitions.
- Dentonslegal advisorDentons served as legal advisor to WM Partners for the majority acquisition of Prime6 Brands GmbH (Primal Harvest) in September 2023.
- BCLP (Bryan Cave Leighton Paisner)legal advisorBCLP served as legal advisor to Prime6 Brands GmbH (Primal Harvest) for the majority acquisition by WM Partners.
- Raymond Jamessell-side advisorRaymond James served as sell-side advisor to Prime6 Brands GmbH for its majority acquisition by WM Partners.
- King & SpaldingadvisorsKing & Spalding served as legal advisor to WM Partners for the acquisition of Allergy Research Group LLC in July 2023.
- Rothschild & Cosell-side advisorRothschild & Co served as sell-side advisor to Kikkoman Corporation for the sale of Allergy Research Group LLC to WM Partners.
- Intrepid Investment Bankersfinancial advisorIntrepid Investment Bankers served as advisor to Raw Sugar, LLC in its partnership/investment with WM Partners.
- Buchalterlegal advisorBuchalter served as legal advisor to Raw Sugar, LLC in its partnership with WM Partners.
- King & Spaldinglegal advisorKing & Spalding served as legal advisor to WM Partners for the investment/partnership in Raw Sugar, LLC.
- King & Spaldinglegal advisorKing & Spalding served as legal advisor to WM Partners for the acquisition of Vega (Sequel Naturals, ULC and Vega US, LLC).
- Lincoln Internationalfinancial advisorLincoln International served as financial advisor for Jade Leaf, LLC in its acquisition by WM Partners in January 2021.
- King & Spaldinglegal advisorKing & Spalding served as legal advisor for WM Partners in the acquisition of Jade Leaf, LLC.
- BraunHagey & Bordenlegal advisorBraunHagey & Borden served as legal advisor for Jade Leaf, LLC in its acquisition by WM Partners.
- King & Spalding LLPlegal advisorKing & Spalding LLP served as legal advisor for WM Partners for the acquisition of Great Lakes Gelatin Company in August 2020.
- Ray & Glick LLClegal advisorRay & Glick LLC served as legal advisor for Great Lakes Gelatin Company in its acquisition by WM Partners.
- John Schumacher (Senior Advisor)key advisorJohn Schumacher joined WM Partners as Senior Advisor. He previously served as Chairman and Co-Founder of GoldPoint Partners, overseeing $13.6B in AUM and $7.4B in direct deals. He provides guidance on business development, fundraising for HPH II, and strategic firm positioning.
- Akerman LLPlegal advisorAkerman LLP served as legal advisor to WM Partners for the acquisition of Ultima Health Products, Inc. in July 2019.
- Carter Ledyard & Milburn LLPlegal advisorCarter Ledyard & Milburn LLP served as legal advisor for Ultima Health Products in the acquisition by WM Partners.
- Imperial CapitaladvisoryImperial Capital played an instrumental advisory role as part of Stop Aging Now's due diligence research during its acquisition by Wellnext.
- Capital Value Advisors, LLCexclusive advisorCapital Value Advisors, LLC, a boutique investment bank out of Denver, Colorado, was the exclusive advisor to Natural Dynamics, LLC (Natural Vitality) in its acquisition by Wellnext.
- ACG (Association for Corporate Growth)community/industryWM Partners is a member and contributor to ACG, a global organization focused on middle-market growth.
- NAIC (National Association of Investment Companies)industry associationWM Partners is certified as a diverse-owned firm by NAIC. NAIC is a leading voice for diverse-owned private equity firms and closed-end investment managers.
- Nutrition Capital Networknetwork partnerWM Partners is a member and contributor to Nutrition Capital Network, which connects investors with health and nutrition companies.
- Fundacion Procapscommunity/industryWM Partners is involved as a contributor to Fundacion Procaps, an organization in the health sector.
- World Central Kitchencharitable partnerWM Partners supports World Central Kitchen, a nonprofit that creates solutions to hunger and poverty, focusing on community and social impact.
- Wavecommunity partnerWM Partners is listed as involved with Wave, an organization in the health and wellness ecosystem.
- UN Principles for Responsible Investmentstandards bodyWM Partners is a signatory of the UN PRI, committing to incorporating ESG issues into investment practice.
- ILPA Diversity in Action Initiativestandards bodyWM Partners is a signatory of the ILPA Diversity in Action Initiative, demonstrating commitment to diversity, equity, and inclusion in private equity.
Scale indicators8 records
Recent moves8 records
Expansion highlights6 records
WM Partners LP competitors and assessment
Company assessmentDirect peers
- VMG Partners: Sector-focused consumer brands private equity firm investing in food, beverage, wellness, and beauty/pet brands at the lower-middle market — directly comparable to WM Partners' health & wellness buyout strategy and equity ticket size.
- CAVU Venture Partners: Consumer growth equity firm focused on natural, organic, healthy, and sustainable brands — closely aligned with WM Partners' VMS, functional foods, and natural personal care portfolio.
- North Castle Partners: Health, wellness, and active living-focused private equity firm investing in consumer brands — comparable sector focus, brand-building playbook, and lower-middle market check size.
- BDT & MSD Partners: Merchant bank focused on consumer and lifestyle brands often with family/founder-led ownership — comparable to WM Partners' entrepreneur-centric health & wellness playbook.
- NewSpring Capital: Lower-middle market private equity firm with dedicated consumer and healthcare strategies — comparable fund size, equity ticket range, and operating value-creation model.
- Trinity Hunt: Lower-middle market growth-oriented private equity firm investing in branded consumer and business services — directly comparable on check size, sector mix, and buy-and-build approach.
- Avista Capital Partners: Healthcare-focused private equity firm with consumer health and wellness exposure — comparable thesis of building differentiated, growth-oriented healthcare and wellness platforms.
Broad incumbents
- L Catterton: Largest consumer-focused private equity firm with significant health & wellness and beauty exposure — broader, larger-scale incumbent operating in many of the same subsectors as WM Partners.
Regional players
- Webster Equity Partners: Healthcare-focused private equity firm investing in lower-middle market healthcare services and consumer health brands — strong overlap with WM Partners' healthcare practitioner channel and VMS focus.
Emerging players
- Soleus Capital: Healthcare-focused PE firm with consumer health and wellness holdings — comparable lower-middle market orientation with thematic overlap in supplements and health-adjacent consumer brands.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
WM Partners LP financial estimates
Financial estimateRevenue estimate
Valuation estimate
WM Partners LP leadership team
Management profileNumber of profiles
Profiles25 records
WM Partners LP subsidiaries and ownership
Company hierarchySubsidiaries14 records
WM Partners LP funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
WM Partners LP M&A and investment
M&A and investmentM&A6 records
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about WM Partners LP
What does WM Partners LP do?
WM Partners LP is a private equity firm that manages three sector-dedicated funds (HPH Specialized Fund 1, HPH II, and HPH III) investing equity capital of $15M–$75M per transaction into lower-middle market companies in the health and wellness sector. The firm acquires controlling or majority stakes in branded companies across Vitamins/Minerals/Supplements, Functional Foods, Natural Personal Care, and the Healthcare Practitioner Channel, then applies an operational buy-and-build strategy to scale and ultimately exit the platforms. WM Partners does not sell products directly to end consumers; its offering is institutional investment fund management combined with hands-on operating support for portfolio brands.
Is WM Partners LP a public or private company?
WM Partners LP is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was WM Partners LP founded?
WM Partners LP was founded in 2015. It employs 11 to 50 people.
Where is WM Partners LP based?
WM Partners LP is headquartered in Fort Lauderdale, United States, in the North America region.
How does WM Partners LP make money?
Two revenue lines are on record. Management fees and carried interest from fund operations are the primary driver. The others are portfolio company operations (historical).
Who are WM Partners LP's main competitors?
Direct peers on record are VMG Partners, CAVU Venture Partners, North Castle Partners, BDT & MSD Partners, NewSpring Capital, Trinity Hunt and Avista Capital Partners. L Catterton is listed as a broad incumbent. Webster Equity Partners is listed as a regional player. Soleus Capital is listed as an emerging player.
Does WM Partners LP have an API?
No public API is recorded for WM Partners LP.
What industry is WM Partners LP in?
WM Partners LP's product category is Private Equity (Health and Wellness Sector). Its primary akta.pro industry code is FSANAAAJ, Venture Capital Fund-of-Funds / Multi-Manager Platforms. Its NAICS code is 523940 and its SIC code is 6311.