Avante Mezzanine Partners has provided unitranche debt and an equity co-investment to support the acquisition of The Global ID Group by Inverness Graham Investments.
“Avante was an excellent partner for Global ID,” said Trey Sykes, Managing Principal of Inverness Graham. “We chose Avante due to their ability to provide a one-stop financing solution and the value they added during the due diligence process. We are thrilled to have them as our partner as we grow the business.”
Global ID is a family of companies dedicated to the production of safe, ethical, and sustainable food. Global ID companies include Genetic ID, a provider of laboratory testing services for genetically modified organisms with offices in the US and Germany; CERT ID, a food safety certification company with offices in the US, Brazil and the UK; and two consulting subsidiaries in the US and UK including Food Chain Global Advisors, the exclusive administrator of the Non-GMO Project, a non-profit organization committed to preserving and building the non-GMO food supply, educating consumers, and providing verified non-GMO choices. The Global ID Group is headquartered in Fairfield, IA (www.global-id-group.com).
“This is our third investment with the Inverness Graham team and we couldn’t ask for a better partner,” said Jeri Harman, Founder and Partner of Avante. “We were impressed with the knowledge and resources the Inverness Graham team brought during due diligence and we worked seamlessly with their team to understand the business quickly and deliver a flexible financing solution.”
Avante Mezzanine Partners provides unitranche/one-stop debt, mezzanine, and minority equity investments of $5 million to $20 million to sponsored and non-sponsored companies with EBITDAs from $3 million to $15 million. Sectors of interest include aerospace & defense; business services; consumer products; distribution; education; healthcare & life sciences; industrial manufacturing; security products & services; software & IT services; and specialty chemicals & coatings. Avante Mezzanine Partners has offices in Los Angeles and Boston (www.avantemezzanine.com).
“We think Global ID has a bright future driven by increased food safety regulations and consumers’ desire to know what’s in their food,” said Ivelisse Simon, Principal of Avante. “We look forward to working with the Inverness Graham team and management as they grow the business.”
Inverness Graham invests in lower middle market value-added manufacturing and service companies with EBITDA’s between $3 million and $10 million and enterprise values of less than $75 million. Inverness Graham manages $250 million in capital commitments and was formed by senior executives of the Graham Group, an industrial and investment concern with global interests in plastics, packaging, recycling, building products and outsourced manufacturing. The firm is based in Philadelphia, PA (www.invernessgraham.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 1-6-14
