Lakeview Equity invests in nutritional solutions provider NutriScience Innovations
11 Dec 2017 --- Lakeview Equity Partners, LLC, a US$40 million Milwaukee, US-based private equity fund, has invested in NutriScience Innovations, LLC, based in Trumbull, Connecticut, US. NutriScience is a cGMP-certified global supplier of nutritional and functional ingredients to companies that manufacture nutraceutical, pharmaceutical, food and beverage, and dietary products.
Lakeview has also acquired the assets of NutriScience’s sister company, global pharmaceutical and specialty chemical raw materials supplier FabriChem, Inc. Collectively, the companies will operate as a unified market leader and provide a large and diverse portfolio of ingredients to a global customer base.
Targeting health and wellness
“Our investment in NutriScience targets the health and wellness market similar to our investment in UAS Labs of Wausau, Wisconsin, US, which produces scientifically proven probiotic-based supplements,” says Joe Cesarz, Managing Director of Lakeview Equity Partners. “Dietary supplements, sports supplements and nutraceuticals are a huge and growing worldwide market.”
The NutriScience/FabriChem group was established in 1993 by the Pallathra family, co-founded by Jacob and Martha Pallathra, who will retain an ownership interest. NutriScience’s big launches in recent years have included its Spray Dried Lactoferrin.
“We’re excited to partner with the Pallathras and with Alan Yengoyan, a management executive with experience in the sports and performance nutrition industry, who will be the new CEO of NutriScience,” says W. Kent Velde, President of Lakeview Equity Partners. “The Pallathras have created a unique and robust company, and we’re confident in Alan’s ability to take its operations and marketing to the next level.”
“I’m excited to join the team and to have the opportunity to build upon the strong foundation that has been created at NutriScience,” Yengoyan says. “NutriScience has a strong reputation for providing customers with high-quality nutritional ingredients, exceptional customer service and technical expertise. This, along with a specialized portfolio of branded and specialty ingredients and exclusive relationships with suppliers around the globe, is a great basis for growth.”
“We are thrilled to have the confidence of Lakeview’s investment in NutriScience, and we look forward to this new and exciting chapter,” says NutriScience founder Jacob Pallathra. “We feel this investment and partnership will lead us to new heights as we grow our portfolio of specialty nutritional solutions.”
