NPC Guardian Holdings LLC, a portfolio company of The Halifax Group, has agreed to sell its stake in Nutrition Physiology Holdings LLC and Guardian Food Technologies LLC , a provider of probiotic microbial solutions for commercial livestock. The buyer is The Chr. Hansen Group. The sale puts NPC at a valuation of $185 million. The transaction is expected to close in the first quarter of this year. William Blair served as financial advisor to both NPC and The Halifax Group.
Washington, DC, [January 13, 2016] – The Halifax Group, a leading U.S. middle market private equity firm, announced today that its portfolio company, NPC Guardian Holdings LLC, has signed an agreement to sell its interest in Nutrition Physiology Holdings LLC and Guardian Food Technologies LLC (collectively “NPC”), to The Chr. Hansen Group, a global bioscience company. NPC is a leading developer and marketer of probiotic microbial solutions for commercial livestock. The transaction reflects an enterprise valuation of USD $185 million. Closing is subject to customary closing conditions, including applicable regulatory approvals, and is expected to close in the first quarter of 2016.
Tony Arnold, NPC Chairman and CEO, said, “We have accomplished numerous goals over the last five years including delivering excellent value to existing customers, expanding to serve new types of livestock customers, and introducing new product formulations. Our employees have been critical to our success and effectively servicing our customers. Halifax’s willingness to invest and its partnership-oriented, value-added support have also been crucial determinants of our success. The sale of NPC to Chr. Hansen will provide access to a broader array of resources and a global footprint which will enable further expansion and customer service.”
Brent Williams, a Managing Director with The Halifax Group, added, “Through a combination of Tony’s superb leadership, a tremendous employee team and a dedicated board of directors, we aggressively invested to expand NPC from its entrepreneurial, predominantly feedlot core to a multi-species, multi-product, robust technology platform. NPC has been an exceptional investment for Halifax as I am sure it will be for Chr. Hansen.”
William Blair served as financial advisor and Arnold & Porter LLP served as legal advisor to NPC and The Halifax Group.
About The Halifax Group
The Halifax Group is a leading private investment firm dedicated to partnering with owners and managers of industry-leading companies with revenues generally between $25 million and $300 million. Halifax invests principally in companies in North America in the business services, healthcare, wellness, animal health, franchising and infrastructure services industries. Halifax has offices in Washington, DC, Dallas, TX and Raleigh, NC. For more information about Halifax, please visit www.thehalifaxgroup.com.
About Nutrition Physiology Company
Founded in 1993, Nutrition Physiology Company, LLC is committed to enhancing the health and productivity of animals. NPC, maker of BOVAMINE®, BOVAMINE DEFEND®, BOVAMINE® DAIRY and POULTRIMAX®, has built a reputation as the trusted partner for developing innovative probiotic microbial solutions for livestock industries. NPC’s leading microbial research has made us the smart choice for delivering scientifically proven probiotic microbial solutions that reduce pathogens for improved animal health and performance. Through programs and partnerships, we collaborate with nutritionists, veterinarians, university researchers, microbiologists and molecular geneticists. To learn more about NPC, please visit: www.bovamine.com.
About The Chr. Hansen Group
Chr. Hansen is a global bioscience company that develops natural ingredient solutions for the food, nutritional, pharmaceutical and agricultural industries. The products include cultures, enzymes, probiotics and natural colors, and all solutions are based on strong research and development competencies coupled with significant technology investments. Revenue in the 2014/15 financial year was EUR 859 million. It has more than 2,500 dedicated employees in 30 countries and main production facilities in Denmark, France, USA and Germany. Chr. Hansen was founded in 1874 and is listed on Nasdaq Copenhagen. For further information, please visit www.chr-hansen.com.