M&A Deal Summary

QualiTech Acquires Ellison Bakery

On August 21, 2024, QualiTech acquired food company Ellison Bakery from Tilia Holdings and True West Capital Partners

Acquisition Highlights
  • This is QualiTech’s 1st transaction in the Food sector.
  • This is QualiTech’s 1st transaction in the United States.
  • This is QualiTech’s 1st transaction in Indiana.

M&A Deal Summary
Date 2024-08-21
Target Ellison Bakery
Sector Food
Buyer(s) QualiTech
Sellers(s) Tilia Holdings
True West Capital Partners
Deal Type Add-on Acquisition

Target

Ellison Bakery

Fort Wayne, Indiana, United States
Ellison Bakery is a producer of cookies, snack bars, crunch and inclusion, and other products for the industrial market, foodservice industry, and retail and private label space. Ellison Bakery was founded in 1945 and is based in Fort Wayne, Indiana.

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Buyer(S) 1

Buyer

QualiTech

Chaska, Minnesota, United States
Category Company
Founded 1967
Sector Food
DESCRIPTION

QualiTech is a family-owned global manufacturer of plant nutrition, animal nutrition and food ingredient products and services. QualiTech was founded in 1967 and is based in Chaska, Minnesota.

DEAL STATS #
Overall 1 of 1
Sector (Food) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Indiana) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1

Seller(S) 2

SELLER

Tilia Holdings

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2017
Size Small
Type Sector Agnostic
DESCRIPTION

Tilia Holdings is a private equity firm focused on investing in outsourced business-to-business services providers that serve the food industry. Specific areas of interest include companies that offer regulatory compliance, quality, supply chain integrity or food safety services. The Firm targets companies with at least $10 million of revenue and at least $5 million of EBITDA. Tilia Holdings was established in 2017 and is headquartered in Chicago, Illinois.

DEAL STATS #
Overall 2 of 2
Sector (Food) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Indiana) 1 of 1
Country (United States) 2 of 2
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-02 Universal Pure

Lincoln, Nebraska, United States

Universal Pure is a provider of outsourced high-pressure processing (HPP), cold storage and pre-HPP and post-HPP value-added services to help food and beverage companies safely bring longer-lasting, cleaner-label products to market. Universal Pure was founded in 2001 and is based in Lincoln, Nebraska.

Sell -
SELLER

True West Capital Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

True West Capital Partners is a private investment firm focused on lower middle-market company investments in the Western US. The Firm looks to commit $5 to $25 million into profitable businesses to support acquisitions, growth initiatives, buyouts, recapitalizations, and refinancings. True West does not have any sector preferences, but does avoid real estate, startups and project financings. True West Capital Partners was formed in 2009 and is headquartered in Los Angeles, California.

DEAL STATS #
Overall 6 of 6
Sector (Food) 1 of 1
Type (Add-on Acquisition) 4 of 4
State (Indiana) 1 of 1
Country (United States) 6 of 6
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-29 Washington Metal Fabricators

Washington, Missouri, United States

Washington Metal Fabricators offers an array of metal fabrication, CNC machining, assembly and engineering services that cater to customers of all sizes with capabilities covering welding, cutting, forming, and finishing. Washington Metal Fabricators was founded in 1979 and is based in Washington, Missouri.

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