ICV Partners Completes Sale of Stauber Performance Ingredients
NEW YORK, Dec. 23, 2015 /PRNewswire/ -- ICV Partners (ICV), a leading investment firm focused on lower middle market companies, announced today that it has completed the sale of Stauber Performance Ingredients, a leading distributor of nutraceutical ingredients, to Hawkins, Inc. (Nasdaq: HWKN), for $157 million.
Founded in 1969, Stauber offers specialty products and ingredients to the nutritional, food, pharmaceutical, cosmetic and pet care industries with approximately 160 employees, and facilities in California and New York.
Ira Moreland, Managing Director of ICV Partners, said, "Since we acquired Stauber in January 2011 we have worked closely with the management team, led by CEO Dan Stauber, to expand the company's product offering and develop manufacturing capabilities. Together we have significantly grown the company on multiple levels and believe Hawkins is the right buyer to continue Stauber's growth and expand the company's processing capabilities. We implemented a number of initiatives over the past few years and executed a significant add-on acquisition that enabled Stauber to grow to where it is today and we are pleased with the successful outcome of this investment."
Dan Stauber, Chief Executive Officer of Stauber, said, "Several years ago, while exploring my options for this company founded by my father, I was attracted to ICV because of their long history of successfully partnering with founder-owned companies. Their depth of knowledge in growing smaller companies helped tremendously and we are all very pleased with our accomplishments in almost five years. I am thrilled Stauber will now be part of the Hawkins family and believe the company is in right hands to successfully flourish in this next phase."
Qian Elmore, Principal of ICV, added, "We would like to thank the Stauber team for their strong leadership of the company over the last five years. Stauber will enjoy a bright future under Hawkins' ownership given the company's position as a leading distributor of nutraceutical ingredients to a number of growing industries and offering the highest level of product and service to drive value for its customers."
About ICV Partners
Founded in 1998, ICV Partners is a leading private investment firm that supports management leaders of strong companies at the lower end of the middle market. The principals of ICV have crafted a strong track record of helping companies improve performance over the long term and across a variety of industries. ICV seeks to make control investments in market leading businesses with $25 million to $250 million in revenue. Additional information is available at www.icvpartners.com.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334
SOURCE ICV Partners
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