New York – September 27, 2010 – Trilantic Capital Partners, a global private equity firm, today announced that it has agreed to purchase a substantial minority interest in Fortitech Inc., the worldwide leader in the development and manufacture of custom nutrient premixes for the food, beverage and pharmaceutical industries.
Fortitech custom nutrient premixes integrate functional ingredients such as vitamins, minerals and amino acids into a wide range of products including cereals, dairy products, sports drinks, juices, water, baby formulas and snacks. Headquartered in Schenectady, New York, Fortitech has state-of-the-art facilities in the U.S. (New York and California), Europe, Asia, Mexico and South America. This investment enables Fortitech to continue to drive its global growth initiative, and existing shareholders will continue to control and manage the business.
“Fortitech is the leader in its industry, with a strong competitive position, experienced management team and attractive growth characteristics,” said Charlie Moore, partner at Trilantic Capital Partners. “Our partnership with Fortitech complements our existing portfolio of businesses that serve consumer end markets and further highlights our focus on providing institutional capital to founder-run businesses. We look forward to partnering with this outstanding team, which is led by a true entrepreneur.”
Added Walter S. Borisenok, president and co-founder of Fortitech, “Trilantic’s investment provides us with the capital to help us realize our full growth potential and will support our continued expansion in global markets. Our partnership with Trilantic will allow us to enhance our leadership position in the fast-growing market for fortified and functional food, beverage and pharmaceutical products.”
Terms of the transactions were not disclosed.
About Trilantic Capital Partners
Trilantic Capital Partners is a private equity firm focused on control and significant minority investments in North America and Europe with primary investment focus in consumer, energy, financial and business services. Trilantic was formed in 2009 by the former principals of Lehman Brothers Merchant Banking, where they created a strong track record of investing in and building successful growth businesses. Trilantic currently manages two institutional private equity funds with an aggregate capital commitment of $3.9 billion. For more information, visit www.trilanticpartners.com