DSM to Acquire Fortitech from Founders and Trilantic Capital Partners
Trilantic Capital Partners, a global private equity firm, today announced the sale of its stake in Fortitech, as part of Royal DSM’s (NYSE Euronext: DSM KON) acquisition of the company. Royal DSM has entered into a definitive agreement to acquire Fortitech, Inc. in an all cash transaction for a total enterprise value of US$634 million.
In October 2010, Trilantic Capital Partners invested in Fortitech, a global leader in food ingredient blends for the food and beverage, infant nutrition and dietary supplements industries, to provide the founder-run business with the resources to continue its global expansion. Over the last two years, Fortitech has invested significantly in its global footprint and now has six production sites located in New York, California, Campinas (Brazil), Kuala Lumpur (Malaysia), Gastrup (Denmark) and Poznan (Poland), with additional sales offices in China, Russia and Mexico.
“Together with the Trilantic team, we have been able to make significant strides in our growth plans,” said Walt Borisenok, Fortitech Founder and CEO. “The combination of Fortitech and DSM boasts a brighter and stronger scientific research database and unsurpassed technical excellence that will enable us to bring superior value to our products and services.”
“Working with Fortitech’s talented founders and management team to take the company to the next level has been a gratifying experience, and we are thrilled with Fortitech’s impressive accomplishments during our partnership,” said Charlie Moore, Partner at Trilantic Capital Partners. “Our investment in Fortitech is another example of a productive partnership with a closely-held, founder-owned business. We thank the entire Fortitech team and wish them every success as they continue to build their business as part of DSM.”
The deal is expected to close before the end of 2012 and is subject to customary closing conditions.