M&A Deal Summary

Tilia Holdings Acquires NutriScience USA

On May 4, 2021, private equity firm Tilia Holdings acquired consumer products company NutriScience USA from Akoya Capital Partners, Lakeview Equity Partners and Greyrock Capital Group

Acquisition Highlights
  • This is Tilia Holdings’ 1st transaction in the Consumer Products sector.
  • This is Tilia Holdings’ 7th transaction in the United States.
  • This is Tilia Holdings’ 1st transaction in Connecticut.

M&A Deal Summary

Date 2021-05-04
Target NutriScience USA
Sector Consumer Products
Buyer(s) Tilia Holdings
Sellers(s) Akoya Capital Partners
Lakeview Equity Partners
Greyrock Capital Group
Deal Type Secondary Buyout

Target

NutriScience USA

Milford, Connecticut, United States
NutriScience USA develops and markets branded, highly differentiated nutritional ingredients that are sold to a variety of customers including blue-chip supplement and wellness brands. NutriScience USA was founded in 1993 and is based in Milford, Connecticut.

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Buyer(S) 1

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 8 of 9
Sector (Consumer Products) 1 of 1
Type (Secondary Buyout) 4 of 5
State (Connecticut) 1 of 1
Country (United States) 7 of 8
Year (2021) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-01 Wheat Montana

Three Forks, Montana, United States

Wheat Montana is a provider of premium, branded mill, and bakery products. The Company offers a variety of non-GMO, chemical-free grains and whole grain flours, mixes, and fresh and frozen bread products to retail and wholesale customers throughout the United States. Wheat Montana is based in Three Forks, Montana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-26 Flexxray

Arlington, Texas, United States

FlexXray is a provider of x-ray inspection services focused exclusively on food safety. The company assists food manufacturers with regulatory compliance and food safety issues by identifying and removing foreign contaminants from food. Hundreds of manufacturing plants in North America rely on FlexXray’s expertise and customer service to salvage valuable products when contamination events occur in the normal course of the food manufacturing process. FlexXray was founded in 2001 and is headquartered in Arlington, Texas.

Buy -

Seller(S) 3

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 9 of 11
Sector (Consumer Products) 1 of 1
Type (Secondary Buyout) 2 of 3
State (Connecticut) 1 of 1
Country (United States) 9 of 11
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-16 Beacon Manufacturing Group

Alexandria, Minnesota, United States

Beacon Manufacturing Group specializes in the manufacturing of highly engineered products and assembled components providing value-added services and solutions to customers. Beacon Manufacturing Group was founded in 2020 and is based in Alexandria, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-17 Edge Adhesives

Forth Worth, Texas, United States

Edge Adhesives is a developer and manufacturer of innovative adhesives, sealants, tapes, and related solutions used in building products, transportation, electrical, HVAC, and other markets. Edge Adhesives was founded in 1980 and is based in Forth Worth, Texas.

Sell -
SELLER

Lakeview Equity Partners

Milwaukee, Wisconsin, United States

Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 40M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Lakeview Equity Partners is a small private equity fund that focuses on investments in Midwest-based lower middle-market companies. The Firm targets businesses valued from $5 to $50 million and that operate primarily in traditional industries. Lakeview Equity invests to support ownership changes, growth capital financings, and management buyouts. Sectors of interest include niche manufacturing, business services, food processing and packaging, specialty distribution, and financial services. Lakeview Equity is based in Milwaukee, Wisconsin.


DEAL STATS #
Overall 8 of 8
Sector (Consumer Products) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Connecticut) 1 of 1
Country (United States) 8 of 8
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-09 UAS Laboratories

Wausau, Wisconsin, United States

UAS Laboratories is a research, development company that manufactures probiotic nutritional supplements. UAS Laboratories was founded in 1979 and is based in Wausau, Wisconsin.

Sell $530M
SELLER

Greyrock Capital Group

Walnut Creek, California, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2002
PE ASSETS 350M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Greyrock Capital Group provides mezzanine debt and equity capital to finance buyouts, recapitalizations and growth needs of middle market companies. Greyrock looks to invest between $8 and $40 million of equity and/or junior capital in companies with minimum revenues of $10 million and at least $2 million of EBITDA. Greyrock prefers companies in defensible markets with low cost structures. Greyrock Capital was formed in 2002 and has offices in San Francisco, California; Chicago, Illinois; and Westport, Connecticut.


DEAL STATS #
Overall 43 of 45
Sector (Consumer Products) 3 of 3
Type (Secondary Buyout) 18 of 18
State (Connecticut) 1 of 1
Country (United States) 43 of 45
Year (2021) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-19 Paleteria La Michoacana

Modesto, California, United States

Paleteria La Michoacana is a producer, marketer, and distributor of premium ice cream and other fine desserts. The Company is known for its fine quality and methods used to produce its paletas, using natural fruits and ingredients of the highest quality. Paleteria La Michoacana was founded in 2002 and is based in Modesto, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-20 Ogle School

Arlington, Texas, United States

Ogle School is a provider of cosmetology and esthetics career education in Texas. It operates eight campuses with superior graduation and job placement outcomes; phenomenal, long-established brand equity; and an exemplary compliance record. Ogle School was founded in 1973 and is based in Arlington, Texas.

Sell -