Tilley Company, a portfolio company of SK Capital Partners, has acquired Ingredients Solutions Incorporated, a distributor and blender of specialty hydrocolloids. No financial terms were disclosed. Klehr Harrison Harvey Branzburg LLP acted as legal counsel to Tilley Chemical on the deal.
Waldo, Maine – September 2, 2021 — Baltimore-based Tilley Company, Inc. (“Tilley” or the “Company”), a leading regional distributor and value-added service provider of specialty chemicals and lubricants and a portfolio company of SK Capital Partners (“SK Capital”), announced today the acquisition of Ingredients Solutions Incorporated (“Ingredients Solutions” or “ISI”). The addition of ISI enhances Tilley’s portfolio of value-add specialty chemicals and ingredients with a full line of hydrocolloid products for food and beverage, animal nutrition, personal care, and pharmaceutical markets. The combined company represents a full-service solutions provider as one of the largest independent distributors of hydrocolloids in North America. The acquisition of ISI is the first in Tilley’s history and comes shortly after the partnership with SK Capital was announced in 2020.
Privately held since its founding in 1992, Ingredients Solutions is a leading distributor and blender of specialty hydrocolloids, offering a full range of products derived from renewable plants and algae. Since inception, ISI’s mission has been to act as a high-quality and reliable multi-sourced provider of these sustainable products, with high levels of customer service and application development support. The ISI platform’s strong technical and R&D resources have supported the development of new products to serve as value-added ingredients in a number of applications including dairy, meat and poultry, plant-based food and beverages, sauces and dressings, bakery, pet food and pharmaceuticals.
As the requests for sustainable and more natural products continue to grow, ISI is committed to sourcing and distributing the highest quality products to satisfy the increasing needs of customer applications. In addition, ISI offers a wide range of hydrocolloid products including organic-allowed, natural and Non-GMO Project Verified solutions. Together with ISI, Tilley remains committed to working with manufacturers who practice the sustainable and ethical production and sourcing of hydrocolloids.
“Tilley Company is extremely pleased to welcome ISI’s Waldo, Maine R&D laboratory and hydrocolloid specialists into the Tilley family. Ingredients Solutions brings a leading hydrocolloid offering and best-in-class product application know-how to meet the precise needs of food, beverage, and personal care customers. Furthermore, this acquisition fits our strategic M&A plan by enhancing Tilley’s food and beverage ingredient product solutions, while also expanding geographic access,” said Sean Tilley, President and CEO of Tilley.
Klehr Harrison Harvey Branzburg LLP acted as legal counsel to Tilley Chemical and committed debt financing was provided by Madison Capital.
About Tilley Company, Inc.
Founded in 1952, Baltimore, Maryland‐based Tilley is a value-added specialty chemical distributor that offers supply chain solutions for customers across specialty chemical and lubricant markets. The Company seeks to act as a direct extension of their suppliers’ selling networks to effectively partner and service broader customer networks. Tilley operates modern, efficient distribution facilities and a large fleet of transportation equipment to serve its customers’ just in time production needs. The Company operates two North American facilities and offers a comprehensive portfolio of value-added services, including regulatory & technical support, full-service QA/QC laboratory, custom formulation, custom blending & packaging, and specialty storage.
Tilley has created a business environment based on open communication, product safety and superior service. Tilley is a member of the OmniChem Alliance, the National Association of Chemical Distributors, and the Food Ingredient Distributors Association. Learn more by visiting www.tilleycompany.com.
About Ingredients Solutions, Inc.
Founded in 1992, Waldo, Maine‐based Ingredients Solutions is a value-added ingredient distributor that offers product and application solutions across food and beverage, personal care, and animal nutrition markets. The Company offers a comprehensive line of hydrocolloid products with a wide variety of in-use functions including thickening, gelling, emulsifying and stabilization of foods, personal care, cosmetics, and pharmaceutical products. Ingredients Solutions retains a technical team capable of supporting the development of new products for demanding applications with value-added services, including regulatory and technical support, custom formulation, lab QA/QC testing, dry blending, storage and packaging.