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Genesis Park has invested in Good Feet Store developer and operator Good Feet Midwest through its investment fund, GP Capital Partners LP.
The acquisition included both debt and equity and was supported by the participation of Exaltare Capital Management and Tecum Capital, according to an April 25 news release.
“The Good Feet Store is a leading retailer in the custom-fitting orthotics market with over 25 years of experience," Genesis Park Managing Partner Gina Luna said in the release. "We are enthusiastic to partner with an experienced investor group and management team to support Good Feet Midwest through this next phase of growth. Exaltare brings invaluable experience having successfully scaled multi-unit franchise systems in the past.”
Founded in 1992, the Good Feet Store is a premium brand in the custom-fit orthotic insoles market and retains approximately 215 retail locations, the release reported. The store sells multiple personalized orthotics to help relieve foot, ankle, knee, hip or back pain. Good Feet Midwest, founded in 2000, is the second-largest franchisee in the parent system, with 23 locations in Florida, Illinois, Iowa, Kansas, Missouri, Nebraska, Oklahoma, Texas and Wisconsin.
Genesis Park is a private credit and equity investment firm based in Houston, Texas, according to the news release. GP Capital Partners LP is licensed as a small business investment company by the U.S. Small Business Administration.
"Genesis Park supports growth and later stage lower middle market businesses through flexible debt and equity capital solutions and strategic guidance," the release said. "Genesis Park generally targets companies with at least $10 million of revenue and $2 million of EBITDA, with proven business models and seasoned management teams. Managed by four experienced investment professionals with broad regional relationships, Genesis Park is committed to partnering with the companies and management teams in which it invests to facilitate growth, transition and success."