Investment Summary

Akoya Capital Partners and Lightspring Capital Partners Invest In Devansoy

On December 23, 2022, private equity firms Akoya Capital Partners and Lightspring Capital Partners invested in food company Devansoy

Investment Highlights
  • This is Akoya Capital Partners’ 3rd and Lightspring Capital Partners’ 2nd transaction in the Food sector.
  • This is Akoya Capital Partners’ 24th and Lightspring Capital Partners’ 9th transaction in the United States.
  • This is Akoya Capital Partners’ 2nd and Lightspring Capital Partners’ 3rd transaction in Illinois.

Investment Summary
Date 2022-12-23
Target Devansoy
Sector Food
Investor(s) Akoya Capital Partners
Lightspring Capital Partners
Deal Type Growth Capital

Target

Devansoy

Rock City, Illinois, United States
Devansoy is a manufacturer of soy, oat, and pea protein ingredients. Devansoy was founded in 1992 and is based in Rock City, Illinois.

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Investor(S) 2

Investor

Akoya Capital Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

Akoya Capital Partners is a private equity firm focused on acquiring profitable US-based middle-market companies with $25 to $200 million in revenue. The Firm generally pursues privately-owned companies, especially family-owned businesses. Sectors of interest include chemicals, food, information services, consumer products, industrial products, and industrial distribution. Akoya Capital Partners was formed in 2005 and is based in Chicago, Illinois.

DEAL STATS #
Overall 24 of 25
Sector (Food) 3 of 3
Type (Growth Capital) 5 of 5
State (Illinois) 2 of 3
Country (United States) 24 of 25
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-02 Alinabal

Milford, Connecticut, United States

Alinabal manufactures spherical rod end bearings, connecting linkages and assemblies, precision stampings, complex mechanical assemblies, special purpose printers, optical shutters, and aircraft instrumentations. Alinabal was founded in 1913 and is based in Milford, Connecticut.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-01 Peerless Fence Group

Saint Charles, Illinois, United States

Peerless Fence Group is an independently owned fence company in the Midwest. Peerless Fence Group was founded in 1961 and is based in Saint Charles, Illinois.

Buy -
Investor

Lightspring Capital Partners

Investor Investor Investor Investor

Category Private Equity Firm
Founded 2018
PE ASSETS 193M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Lightspring Capital Partners is a private equity firm that looks to acquire majority positions in profitable lower middle-market companies with $10 to $75 million of revenue. The Firm will consider opportunities throughout the US, but has a preference for businesses in the Midwest. Areas of interest include niche manufacturing, value-added distribution, business services, consumer products, transportation, and logistics. Lightspring Capital Partners is based Chicago, Illinois.

DEAL STATS #
Overall 9 of 9
Sector (Food) 2 of 2
Type (Growth Capital) 2 of 2
State (Illinois) 3 of 3
Country (United States) 9 of 9
Year (2022) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-22 Great Lakes Potato Chips

Traverse, Michigan, United States

Great Lakes Potato Chips is a manufacturer of kettle cooked potato chips, with unique flavors and unmatched texture. Great Lakes Potato Chips serves a diverse set of customers, including leading foodservice distributors, grocery stores, and club stores while also selling direct to consumers from its website. Great Lakes Potato Chips was founded in 2009 and is based in Traverse, Michigan.

Buy -
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