Investment Summary

American Securities Exits Milk Specialties Global

On December 23, 2022, private equity firm Butterfly Equity invested in food company Milk Specialties Global from American Securities

Investment Highlights
  • This is Butterfly Equity’s 3rd transaction in the Food sector.
  • This is Butterfly Equity’s 7th transaction in the United States.
  • This is Butterfly Equity’s 1st transaction in Minnesota.

Investment Summary

Date 2022-12-23
Target Milk Specialties Global
Sector Food
Investor(s) Butterfly Equity
Sellers(s) American Securities
Deal Type Secondary Buyout
Advisor(s) Goldman Sachs
Credit Suisse Investment Banking
Rabobank Securities (Financial)
Arnold & Porter (Legal)

Target

Milk Specialties Global

Eden Prairie, Minnesota, United States
Milk Specialties Global is a human and animal nutrition company. The Human Nutrition Business Unit is a leading manufacturer of whey and milk protein ingredients used primarily in the sports nutrition and functional foods end-markets. Milk Specialties Global was founded in 1949 and is based in Eden Prairie, Minnesota.

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Investor(S) 1

Investor

Butterfly Equity

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2016
PE ASSETS 4.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Butterfly Equity is a private equity firm focused on the food sector. The Firm will consider opportunities spanning the entire food chain include agriculture, aquaculture, food, beverages, food distribution, and food service. Butterfly Equity was formed in 2016 and is headquartered in Beverly Hills, California.


DEAL STATS #
Overall 8 of 11
Sector: Food M&A 3 of 4
Type: Secondary Buyout M&A Deals 1 of 2
State: Minnesota M&A 1 of 2
Country: United States M&A 7 of 10
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-02 Orgain

Irvine, California, United States

Orgain is a producer of high-quality, great-tasting, organic and clean nutrition products. The company's products include meal replacement shakes, protein powders and snack bars for adults and kids. It uses only the highest quality ingredients, never at the cost of taste and texture. Orgain was founded in 2008 and is based in Irvine, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-17 Rise Baking

Minneapolis, Minnesota, United States

Rise Baking is a manufacturer of premium cookies, dessert bars, artisan breads, and flatbreads. Rise Baking was founded in 2013 and is based in Minneapolis, Minnesota.

Buy -

Seller(S) 1

SELLER

American Securities

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 23.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Securities is a large private equity firm that typically partners with management when pursuing company acquisitions. American Securities typically targets US-based with $50 to $200 million of EBITDA and valued up to $2 billion. Areas of interest include consumer products, restaurants, healthcare, industrial, aerospace, defense, agriculture, environmental, paper/packaging, energy, and specialty chemicals. The Firm was originally formed in 1947 as the family office for William Rosenwald, an heir to the Sears Roebuck & Company, and began accepting outside investors in 1994. American Securities is headquartered in New York, New York.


DEAL STATS #
Overall 47 of 53
Sector: Food M&A 1 of 1
Type: Secondary Buyout M&A Deals 18 of 21
State: Minnesota M&A 2 of 3
Country: United States M&A 46 of 52
Year: 2022 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-08 Meridian Adhesives Group

Charlotten, North Carolina, United States

Meridian Adhesives Group is a manufacturer of high-value adhesives and sealants technologies. Meridian Adhesives portfolio of solutions includes high-performance specialty epoxy, polyurethane, and hybrid adhesives for the electronics, medical, construction, and infrastructure markets. Meridian Adhesives Group was founded in 2018 and is based in Charlotte, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-01 Aramsco

Paulsboro, New Jersey, United States

Aramsco is a distributor of products, equipment, and services to specialty contractors in North America. The Company carries more than 30,000 different products ranging from personal protective equipment to specialty chemicals and equipment. Aramsco complements this product offering with a suite of value-added services such as equipment repair, rental, and training. Aramsco was founded in 1966 and is based in Paulsboro, New Jersey.

Buy -