- Titan’s co-founders will retain a significant stake in the company and will continue to serve in their respective positions
- Cascadia Capital acted as financial advisor to Titan on the deal
- Vestar Capital Partners invests in the middle market
Vestar Capital Partners and Windhover Capital have agreed to recapitalize Santa Monica, California-based Titan, a frozen berry processor and ingredient provider to the food and beverage industry. No financial terms were disclosed for the transaction that was also done with Titan management and the company’s existing shareholders.
Titan’s co-founders will retain a significant stake in the company and will continue to serve in their respective positions. Terms of the transaction were not disclosed.
Titan was founded in 2013.
“Titan is a dynamic and well-managed business that has built a terrific service and innovation-driven reputation in the frozen berry and food ingredients sector. We are looking forward to partnering with the Titan team and Vestar to continue to drive supplier partnerships and market leadership through a collaborative and research-oriented approach to adding value,” said Chris Harned, co-founder and managing partner of Windhover in a statement.
Dorsey & Whitney LLP served as legal counsel and Cascadia Capital acted as financial advisor to Titan. Karr Tuttle Campbell served as legal counsel to Windhover. Kirkland & Ellis LLP served as legal counsel to Vestar.
Vestar Capital Partners invests in the middle market.
Windhover Capital targets the food, beverage, pet and consumer sector.