Fuerst Day Lawson Snapped up by US Private Equity Company
22 Feb 2016 --- Fuerst Day Lawson (FDL), the London-based ingredients company, has been acquired by US private equity company Highlander Partners. FDL provides customized ingredients to the food, drinks and fragrance sectors along with chemical industries. The company has offices in England, the US, Indian and China.
Its offerings include amino acids, aroma chemicals, beverage syrups, along with flavorings, juices and juice blends, preservatives, seeds and grains.
Additionally, FDL trades commodities, including castor oil, menthol and mint oils.
Mike Nicolais, Highlander president, said: “We intend to supplement organic growth with strategic acquisitions that build on and expand FDL’s existing business and product offerings.”
Dallas-based Highlander says that it invests up to $75 million in equity and companies that generate up to $500 million in sales.
Highlander’s other investments include the drinks distributor Bevolution Group, and the packaging company Popular Ink.
FDL will continue to operate under its existing management team and will carry on being led by Mac Mardi, chief executive.
Since Mardi took over the running of the business, it has been transformed into a speciality food and drinks ingredients and flavour company.
As part of the deal, Highlander president Nicolais will join FDL’s board and serve as co-chairman.
Mardi said: “We are excited to be working with Highlander Partners, which has a strong track record of building long-term value for its portfolio companies, with deep, relevant experience in the food ingredient space. With Highlander’s financial, strategic and operational support, we are excited to expand upon our leading market position with a partner who shares in our strategic vision.”
“While our ownership has changed, our commitment to our customers remains stronger than ever. We look forward to working with our new partners to accelerate our positive momentum in the marketplace—driving growth by better understanding our customers’ needs and providing differentiation through product innovation and customer service.”
Nicolais added: “FDL’s focus on innovation, service and customized solutions have formed a loyal and growing customer base. We are excited to partner with such an experienced and proven management team to continue growing and developing innovative solutions for the Company’s customers. In addition, similar to our other portfolio companies, we intend to supplement organic growth with strategic acquisitions that build on and expand FDL’s existing business and product offerings.”
By John Reynolds
