MidOcean Partners, a premier New York-based alternative asset manager, acquired QualiTech, a family-owned global manufacturer of plant nutrition, animal nutrition and food ingredient products and services. The transaction, which transfers ownership of the company to MidOcean from the Ploen family, is designed to pave the way for new investment to expand capabilities, capacity, and drive new levels of growth.
Founded in 1967 and headquartered in Chaska, MN, QualiTech produces a variety of savory blends for consumer food products, vitamins and minerals for aqua, pet and livestock feed, and specialty nutrition for plants. With a rich 50-plus-year history of developing innovative solutions, and a longstanding commitment to quality, technology, and service, QualiTech is well-recognized for delivering best-in-class ingredients and nutrients that promote the health and wellbeing of people, animals and the environment.
“Joining forces with MidOcean marks a major milestone for QualiTech as we continue to strategically scale our products and services,” commented Mike Hodgens, CEO of QualiTech. “The only thing more remarkable than the significant growth and success that QualiTech has experienced over the past several years is the opportunity that lies before us. 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.”
“We are delighted to welcome QualiTech to the MidOcean family,” said Steven Loeffler, principal at MidOcean. “QualiTech’s multiple distinct business lines afford MidOcean an exciting opportunity where we can help the company continue to build upon its rich heritage and scale its exceptional product offerings. QualiTech’s excellence in food ingredients, animal nutrition and plant nutrition are highly synergistic with MidOcean’s expertise in the food ecosystem. We look forward to partnering with Mike and the entire QualiTech team to ensure they are best positioned to service their loyal customer base for years to come.”
MidOcean plans to leverage the food industry knowledge and expertise to support QualiTech’s continued growth through both organic investments in research and development and product innovation, and strategic transactions.
