MidOcean Partners, a New York-based alternative asset manager focused on middle-market private equity and alternative credit investments, has acquired QualiTech, a manufacturer of plant nutrition, animal nutrition and food ingredient products and services.
Founded in 1967 and headquartered in Chaska, Minn., QualiTech produces a variety of blends for consumer food products, vitamins and minerals for pet and livestock feed and nutrition for plants. The deal, which transfers ownership of the company to MidOcean from the Ploen family, looks to expand capabilities and capacity, as well as drive new levels of growth. QualiTech’s business operates across several 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.
“We are confident that MidOcean’s significant industry knowledge in the food value chain, deep operational expertise, and track record of successfully growing food and ingredients businesses will help QualiTech accelerate our growth and build on the strong foundation we have established over the last 57 years,” says Mike Hodgens, chief executive officer of QualiTech.