LFE Capital announces sale of Global ID Group
MINNEAPOLIS, Nov. 20, 2013 /PRNewswire-iReach/ -- LFE Capital is pleased to announce the sale of its portfolio company Global ID Group ("Global ID" or the "Company"). Based in Fairfield, Iowa, Global ID provides analytic testing, third-party certification, and consulting services to the agriculture and food industries. The Company's products are used to detect genetically modified organisms ("GMOs") and to ensure compliance with national and international government regulations and consumer information needs. Terms of the transaction were not disclosed.
During LFE's investment, Global ID nearly doubled its revenue while growing EBITDA margin to over 20% as a result of numerous initiatives supported by LFE Capital that created a leader in the global food safety industry. Craig Ibsen, LFE Senior Advisor and former chairman of Global ID stated: "LFE played a key role working with management and the board to take Global ID into its next chapter. The Company is now at the forefront of a revolution in the food industry in which companies are responding to consumer demands for greater transparency - even the most mainstream food and agricultural companies' practices are changing. We wish the Global ID team the best of luck in capitalizing on a great business opportunity."
About LFE Capital:
LFE Capital believes that superior investment opportunities can be found in smaller companies, where the commitment to innovation and the opportunity to create significant value drive performance. Based in Minneapolis with offices in Florida, LFE is a private equity firm that invests in high growth companies with $5 to $50 million in revenues in the consumer, healthcare, and business services sectors with a focus on health and wellness. A relationship with LFE brings growth capital and an operations oriented investor who will dedicate the time and resources required to help management build successful businesses. For more information, please visit www.lfecapital.com.
Media Contact: Laurent Frecon - Associate, LFE Capital, 612.752.1806, firstname.lastname@example.org
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SOURCE LFE Capital