International Fiber Corporation (IFC), a supplier of insoluble fiber products for food, pharmaceuticals and industrial applications and a portfolio company of Arsenal Capital, has acquired Fibred, a provider of soy fiber products used in food end-markets. This is the first add-on acquisition for IFC since being acquired by Arsenal in August 2013.
Fibred manufactures dietary soy fiber 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. The company was founded in 1898 and is headquartered in Cumberland, MD (www.fibred.com).
“The acquisition of Fibred is part of our plan to significantly expand IFC’s presence both in North America and internationally. We plan to continue to support the growth of IFC with acquisitions as well as new product offerings to make it a more valuable supplier to the industries that we serve,” said Sal Gagliardo, an Operating Partner at Arsenal.
International Fiber Corporation is a supplier of cellulose‐based insoluble fiber products for food and industrial applications. IFC’s fiber is used in food applications for a variety of functions including improving taste and texture, enhancing yield and processability. 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 was founded in 1917 and has operating facilities in North Tonawanda, NY (headquarters); Urbana and Oberlin, OH; Nitro, WV; and Temse, Belgium (www.ifcfiber.com).
“We’re excited to add to IFC’s market leading offering, and know our customers will benefit from our ability to serve a larger variety of their fiber needs. Fibred’s product and processes enhance the usability of fiber in food with best-in-class consistency in baking and formulation, neutral taste, and lack of ‘grittiness’ in addition to the functional and health benefits of insoluble fiber,” said Ken Blackburn, IFC’s CEO.
Arsenal Capital Partners invests in middle-market specialty industrial and healthcare companies that have $50 million to $250 million in enterprise value. Industries of specific interest include specialty & fine chemicals; segments of healthcare; transportation and logistics; power generation; aerospace & defense; and process industry components and services. Arsenal has $1.7 billion of committed capital under management. The firm was founded in 2000 and has offices in New York and Shanghai (www.arsenalcapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 10-16-13