Niagara Fiber LLC Announces Acquisition of Allied Blending With Backing By Arsenal Capital Partners
NEW YORK, May 1, 2014 /PRNewswire/ -- Niagara Fiber LLC ("Niagara"), a leading supplier of insoluble fiber products globally for food, pharmaceutical and industrial applications, and a portfolio company of Arsenal Capital Partners ("Arsenal"), has announced the acquisition of Allied Blending and Ingredients, Inc. ("Allied"), a leading provider of fiber and starch based proprietary products and mixes for the dairy and tortilla end-markets. This marks the third acquisition by Niagara. Previously, Niagara had acquired International Fiber Corporation ("IFC"), a leading supplier of cellulose-based insoluble fiber products for food, pharmaceutical and industrial applications, globally, in August 2013 and Fibred, a leading provider of premium soy fiber products for numerous food end-markets, in October 2013.
Founded in 1981 and headquartered in Keokuk, Iowa, Allied Blending formulates, manufactures and custom blends various fiber and starch based proprietary products and mixes which build on Niagara's leading product offerings in insoluble fibers and starches and offers expansion into key end-markets.
"We're excited to add Allied's unique products, multi-plant locations and technical capabilities to our customer offering, and know our customers will benefit from our ability to serve a larger variety of needs. Allied's innovative product technology and processes enhance specific performance characteristics of dairy products, flatbreads, and tortillas. We are looking forward to combining and expanding Allied's R&D, formulation and blending capabilities to better serve our customers," said Ken Blackburn, Niagara's CEO.
"The acquisition of Allied Blending is an integral part of our investment plan to significantly expand Niagara's presence both in North America and internationally and to expand and diversify our product portfolio. We plan to continue to support the growth of Niagara through acquisitions as well as the development of new product offerings to make Allied, IFC and Fibred together more valuable partners and suppliers to the industries that they serve," added Sal Gagliardo, an Operating Partner at Arsenal.
"The resource platform gained with Allied Blending's inclusion in the Niagara family of product offerings will move Allied to a new level of solution based offerings. Allied's commitment to innovation and service to create mutual growth partnerships with our customer base will be amplified due to this union," added Randy Schmelzel, President of Allied Blending.
Houlihan Lokey served as exclusive financial advisor to Allied Blending.
To learn more about IFC and its products go to: http://www.ifcfiber.com/.
To learn more about Fibred and its products go to: http://www.fibred.com/.
To learn more about Allied Blending and its products go to: http://www.alliedblending.com/.
About International Fiber Corporation
Founded in 1917, and headquartered in North Tonawanda, NY, IFC is the industry leader in insoluble fiber products, providing exceptional service and customized product solutions. IFC's fiber is used in food applications for a variety of functions including improving taste and texture, enhancing yield and processability, and numerous health benefits. In industrial applications, IFC's fiber is used to thicken paints, strengthen rubber used in industrial hoses and belts, for filtration as well as to control viscosity in thermoplastics. IFC's products include brands such as Solka-Floc, Alpha-Cel, KEYCEL, JustFiber, FloAm, Qual Flo, and NutraFiber. IFC has operating facilities in North Tonawanda, NY, Urbana and Oberlin, OH, Nitro, WV and Temse, Belgium.
Founded in 1898 and headquartered in Cumberland, Maryland, Fibred manufactures dietary soy fiber through a unique "wet" process, sold globally for use in baked goods, meats, cereal, dairy products, health foods, and many other applications. Fibred's flagship product is sold under the trade name FI-1 Soy Fibre®.
About Allied Blending
Founded in 1981 and headquartered in Keokuk, Iowa, Allied Blending manufactures and blends various fiber and starch-based products used as inputs by cheese manufacturers and produces proprietary BatchPaks™ consisting mainly of functional additives and other products sold to tortilla manufacturers. Allied has manufacturing facilities and R&D labs in Bell, CA and Keokuk, IA as well as a Research Center in St. Louis, MO.
About Arsenal Capital Partners
Arsenal Capital Partners is a leading New York-based private equity firm that invests in middle-market specialty industrial and healthcare companies. Arsenal makes investments in sectors where the firm has significant prior knowledge and experience. Arsenal targets businesses that have the potential for further value creation by working closely with management to accelerate growth and leverage the firm's operational improvement capabilities. Arsenal currently has $1.7 billion of committed equity capital. For additional information on Arsenal Capital Partners, please visit www.arsenalcapital.com.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
SOURCE Arsenal Capital Partners