GenNx360 Capital Partners has made an investment in Novel Ingredient Services, a specialty nutraceutical ingredient services supplier to the health and wellness industry.
Novel Ingredient Services is a supplier of botanical and nutraceutical raw materials for the dietary supplement, sports nutrition, food and beverage, and pet care industries. The company has a national service network with distribution facilities in Chicago, Los Angeles, and West Caldwell, NJ (headquarters). Novel was founded in 1995 (www.novelingredient.com).
Novel has experienced significant growth recently and has identified the opportunity to expand its services and capabilities to both its existing markets and complementary sectors such as cosmetics and food and beverage. “This partnership with GenNx360 reflects our strategic vision. GenNx360’s significant experience growing companies will be a valuable asset to our management and help us immensely in our continued growth efforts,” said Novel’s Chairman, Bob Green.
“Bob Green and his team have built a very impressive organization. We are delighted to have the opportunity to partner with Novel as the company embarks on the next phase of its strategy to grow its leadership position in the nutraceutical field while increasing its footprint in adjacent markets,” said Monty Yort, the GenNx360 Managing Partner who led the transaction.
GenNx360 Capital Partners is a private equity firm focused on investing in industrial business-to-business companies in the middle market. Sectors of interest include industrial machinery and components, oil and gas, transportation and logistics, agricultural, specialty chemicals, and aerospace. GenNx360 was founded in 2006 and is headquartered in New York with additional offices in Seattle and Boston (www.gennx360.com).
The investment in Novel Ingredient Services represents the second investment for GenNx360 Capital Partners’ Fund II.
© 2014 PEPD • Private Equity’s Leading News Magazine • 3-31-14
