Foundation Wellness, previously Remington Products Company, is the leading US manufacturer of aftermarket insoles, supplying footwear and foot care products to multiple companies and leading brands. The Company was founded in 1934 and was a third-generation, privately held business until the family business was acquired by an ESOP in 2008. The Company was then acquired by Gridiron Capital in 2019.
Kaulig Capital’s Dominic Brault brought the transaction opportunity to Gridiron as the result of his long-standing relationship with Cascade Partners. Cascade was hired as the Company’s exclusive financial advisor for the sale of what was then Remington Products Company. Gridiron and Remington closed the transaction within 50 days with Kaulig Capital participating in the deal.
Today, Foundation Wellness is a leading specialty designer and manufacturer of branded and private label orthotic solutions, including foot beds/insoles, foot care products, orthopedic braces, sports support and ergonomic safety products. The Company manufactures its products in the US as well as at its wholly-owned manufacturing facility in Southeast Asia.
The Company works with podiatrists, chiropractors, physical therapists and other clinicians to bring orthopedic wellness products to their clients. Additionally, Foundation Wellness has three branded product lines including PowerStep®, Foot Petals and Flat Sock. Powerstep® is the leading podiatrist recommended orthotic solution, are sold directly to consumers and through sports and specialty retailers. Foundation Wellness also offers private label products to leading OEMs and distributors in the medical, footcare, orthopedic soft goods, safety & military markets.