MidOcean Partners buys animal nutrition and food ingredient supplier QualiTech
MidOcean Partners declined to disclose the financial details of the deal, but said the transaction, which transfers ownership of the company to the investor from the Ploen family, is designed to expand QualiTech's capabilities and capacity, and to drive new levels of growth for the Chaska, Minnesota based firm.
The asset manager will leverage its food industry knowledge and expertise to do so; it is planning both organic investments in research and development and product innovation, along with strategic transactions.
Since its inception in 2003, MidOcean Private Equity has targeted investments in middle-market companies in the consumer and business services sectors.
Steven Loeffler, principal at that investment group, sees that QualiTech’s excellence in food ingredients, animal nutrition and plant nutrition are highly synergistic with MidOcean’s expertise in the food ecosystem. "QualiTech’s multiple distinct business lines afford MidOcean an exciting opportunity where we can help the company continue to build upon its rich heritage and scale its exceptional product offerings.”
Also weighing in on the acquisition was Cory Ploen, QualiTech’s long-time owner: “We believe MidOcean’s partnership will have a positive impact on our all of our stakeholders.”
Animal nutrition portfolio
Founded in 1967, QualiTech produces a variety of savory blends for consumer food products, vitamins and minerals for pet and livestock feed, and specialty nutrition for plants.
Its core technologies and products include SQM organic trace minerals, Feedbuds palatability enhancers, dispersibles, electrolytes and protected vitamins. It maintains that its technology is backed by over four decades of research, conducted across species and under varying conditions with proven results.
Its portfolio targets all sectors from dairy to beef, to swine and poultry along with aquaculture, equine and companion animals.
