International Nutrition & Wellness (INW), a portfolio company of Rosewood Private Investments, has acquired ProTec Laboratory, a provider of contract manufacturing services.
ProTec Laboratory provides its contract services to consumer brands in the dietary supplements, sports nutrition, functional foods, and pet care products industries. The company’s production capabilities include the development, manufacture, and filling of powder, liquid, tablet, capsule, and soft gel products. ProTec is headquartered 90 miles east of Dallas in Quitman, TX (www.proteclab.com).
The buy of ProTec represents the third acquisition for INW. In July 2017, INW acquired Irving, TX-based contract manufacturer, Healthy Natural from Rice-Bran Technologies; and in February 2014 it invested in United I International Laboratories, a Carrollton, TX-based manufacturer of dietary supplements, sports nutrition and personal care products.
“With Rosewood’s support we have been able to invest heavily in this category, beginning with United I,” said INW CEO Paul Richardson. “The recent integration of Healthy Natural has created meaningful value for us and more importantly, for our customers. By bringing ProTec into the fold, we’ve created a significant platform of scale with enormous potential. Today, the combined businesses serve well over 100 customers in over 60 markets globally, and we plan to grow far beyond that by focusing on our centers of excellence as well as through select strategic acquisitions.”
Rosewood Private Investments invests from $10 million to $50 million in US based businesses with $20 million to $150 million in revenue and EBITDA greater than $5 million. Sectors of interest include aerospace & defense, nutrition & wellness, manufacturing technologies, environmental services, packaging & labeling, food processing equipment, education beauty & personal care, rail products & services. The firm is the private equity arm of The Rosewood Corporation, which is wholly owned by the Caroline Hunt Trust Estate, which was established in 1935 by Texas oil tycoon H.L. Hunt. Rosewood Private Investments is based in Dallas (www.rosewoodpi.com).
“We are thrilled with the partnership and are excited about the opportunities to come,” said Sarah and Sail Ricks, founders of ProTec, in a released statement. “This investment will enable a 100,000-square foot expansion and allow us to make significant enhancements through technology and greater automation. Partnering with Rosewood and INW gives us the ability to rapidly expand our product portfolio and better serve our customers.”
Alantra Partners served as ProTec’s financial advisor.
© 2017 Private Equity Professional | November 14, 2017
