Innophos Holdings Inc has acquired Novel Ingredients, a provider of natural ingredient solutions for the supplement industry. The seller was GenNx360 Capital Partners. No financial terms were disclosed.
Correction: The previous headline and report of this news item incorrectly stated the details of the transaction. Innophos has acquired Novel Ingredients, not the other way around. The headline and item have since been corrected.
NEW YORK, Aug. 31, 2017 /PRNewswire/ — GenNx360 Capital Partners (“GenNx360”), a New York-based private equity firm focused on acquiring middle market industrial and business services companies, is pleased to announce today that it has completed the previously announced sale of its portfolio company, Novel Ingredients (“Novel”), a leading provider of natural ingredient solutions to the supplement industry, to Innophos Holdings, Inc. (“Innophos”), a leading international producer of specialty ingredient solutions for the food, health, nutrition and industrial markets. The sale of Novel, which was previously announced on August 1, 2017, was completed on August 28, 2017, following receipt of all regulatory approvals.
The sale of Novel represents the second sale by GenNx360 in the last three months, following the sale of Truck Bodies and Equipment International, a manufacturer of dump truck bodies and trailers to Federal Signal Corporation, a leader in environmental and safety solutions.
About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on acquiring middle market industrial and business services companies. We invest in companies with proven and sustainable business models in expanding industries with the objective of implementing the required operating changes to deliver cost efficiencies, accelerate growth, and generate strong financial returns. Target industries include industrial machinery and components, logistics and supply chain solutions, industrial and environmental services, food and agricultural products and services, infrastructure equipment and services, specialty chemicals, packaging, and aerospace and defense. GenNx360 was founded in 2006 and is headquartered in New York City. For more information, please visit http://www.gennx360.com.