Trivest Partners has completed an investment in Wise Company, a supplier of freeze dried and dehydrated food products for the emergency preparedness and outdoor markets.
Wise represents the 11th platform company investment in Trivest Fund IV, a $325 million fund. Brian NeVille, Wise CEO and shareholder, along with Wise’s current management team, will continue to lead the company’s daily operations.
“Trivest has been a perfect match for our organization. We are grateful for their straightforward and transparent approach to doing business,” said Mr. Neville. “Trivest’s focus on partnering with founder-owned organizations and their relevant experience with our current distribution channels created an immediate sense of comfort within our organization. We believe that our partnership with Trivest will best position Wise to execute on its mission to be a best-in-class partner to our customers.”
Wise is a supplier of dehydrated and freeze dried food products, including entrées, breakfast items, fruits & vegetables, soups, meats and sauces. Wise markets its products through an internal sales force that sells to channel partners, including retailers and distributors, and direct-to-consumer through its in-house sales force. The company is based in Salt Lake City (www.wisefoodstorage.com).
“We are pleased that the Wise management team and shareholders chose Trivest as the best partner to help the company in its next phase of growth. Wise is a perfect fit with our strategy to partner with growing founder-owned businesses. Brian and his team have built a great organization, and we look forward to assisting them in continuing to expand their business,” said Troy Templeton, Trivest’s Managing Partner.
Trivest Partners provides equity for lower middle-market corporate acquisitions, recapitalizations and growth capital financings in the US and Canada. Sectors of interest include manufacturing, distribution, business services and consumer companies. Since its founding in 1981, Trivest has completed more than 185 transactions, totaling nearly $4.8 billion in value. The firm is located in Coral Gables, FL (www.trivest.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 10-12-12