MidOcean Partners, a New York-based alternative asset manager specializing in middle-market private equity and alternative credit investments, acquired QualiTech, a Chaska, MN-based manufacturer of plant nutrition, animal nutrition and food ingredient products and services.
The amount of the deal was not disclosed. The transaction, which transfers ownership of the company to MidOcean from the Ploen family, will enable the company to expand its capabilities and capacity, and to drive new levels of growth through both organic investments in research and development and product innovation, and strategic transactions.
Led by CEO Mike Hodgens, QualiTech produces a variety of savory blends for consumer food products, vitamins and minerals for pet and livestock feed, and specialty nutrition for plants. Their core technologies and products include SQM® organic trace minerals, Feedbuds® palatability enhancers, dispersibles, electrolytes and protected vitamins. The company operates across several key focus areas within MidOcean’s food value chain initiative, and MidOcean’s investment in the company follows others it has made in the food and ingredient product industries, including Florida Food Products and Casper’s Ice Cream.
