Tuesday, June 17, 2014

Plexus Capital invests in Burlington supplement company

Charlotte-based Plexus Capital has invested $5.5 million into a Burlington nutrition supplement company.

Scivation received the investment in the form of a debt security with warrants. The company used the money to repurchase stock from inactive shareholders and add to capital, Plexus said.

The firm, founded in 2004, markets protein powders and other supplements, primarily under the "Xtend" brand name.

Plexus Capital is investing money raised as part of its $300 million third fund. The company typically makes subordinated debt investments in middle-market companies.