The Riverside Company has made an undisclosed investment in Fort Worth, Texas-based Parker Products, a maker of specialty ingredients for food and beverage companies. Madison Capital and GMB Mezzanine Capital provided financing for the deal while Jones Day served as legal adviser to Riverside.
The Riverside Company has invested in Parker Products (Parker), a value-added developer and manufacturer of custom specialty ingredients used by a wide array of well-known food & beverage companies. Parker’s product offerings include, toppings, inclusions, grinds, flavor bases, icings, swirls and other innovative items.
Based in Fort Worth, Texas, Parker has built a strong and loyal following thanks to its proven R&D team, flexibility and capabilities to use clean-label, natural and organic ingredients to quickly deliver unique offerings.
“Parker understands what’s trending in the food industry, and has the talent and knowhow to meet anticipated needs for a demanding customer base,” said Riverside Managing Partner Suzy Kriscunas. “They are incredibly nimble and respected, which is critical in the dynamic world of food ingredients.”
Parker makes short-run, made-to-order batches that require significant expertise. The company has grown quickly due to its commitment to quality and focus on innovation.
Parker’s R&D capabilities have allowed it to develop thousands of new products for a diverse customer base, which includes large and small blue chip customers, across various end markets and product categories.
“Parker is an outstanding company and we’re looking forward to partnering with strong founders that will remain significant owners and their team to accelerate growth,” said Riverside Partner Meranee Phing. “As the food industry changes and consumers demand more unique and clean label products, Parker has the right capabilities, strong growth potential and the track record of being able to deliver for customers. We’re excited to partner with a great leadership team to take the company to new heights.”
Management’s partnership with Riverside came at the right time and presented a unique opportunity to build a new, state of the art facility.
“Parker has been a nimble thought partner for its customers and has really excelled when presented with complex product opportunites,” said Riverside Vice President Conner Harris. “The overlap of the transaction and this demand presented an opportunity to build out a new, state-of-the-art facility, increase capacity substantially and introduce new capabilities to improve and expand current product lines.”
Parker joins a growing slate of specialty food and beverage companies at Riverside, and should benefit from the firm’s expertise, led by Riverside Senior Food & Beverage Advisor Richard Lan. Riverside will work to source and integrate strategic add-ons during the hold.
Working with Kriscunas, Phing, Harris and Lan on the deal for Riverside were Senior Associate Fei Ren, Associate Harrison Petts, Operating Partner Ron Savelli, Operating Executive Hayden Cotterill, and Operating Executive, Finance Rob Carraway. Partner Anne Hayes helped secure financing for the deal. Origination Principal Jim Butterfield sourced the deal for Riverside.
Jones Day (legal) advised Riverside on the transaction. Madison Capital and GMB Mezzanine Capital provided financing for the deal.
About The Riverside Company
The Riverside Company is a global private equity firm focused on acquiring and investing in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 480 transactions. The firm’s international portfolio includes more than 80 companies.