Turnspire Capital Partners Completes Acquisition of Pharmachem from Ashland
Turnspire Capital Partners has completed the acquisition of Pharmachem Innovations from Ashland Inc. (NYSE: ASH). Pharmachem is a leading provider of proprietary nutrition ingredients and custom formulation services for the nutraceuticals industry. The company has approximately 500 employees across four production facilities in the US and Mexico.
As part of the acquisition, Maurice Murphy has been appointed Executive Chairman, and Jeff Rogers as Interim CEO. Both executives bring significant experience in private equity-owned businesses and the nutraceuticals sector. Turnspire aims to leverage its expertise in transforming corporate carve-outs to capitalize on growth opportunities in Pharmachem's markets.
Turnspire Capital Partners ha completato l'acquisizione di Pharmachem Innovations da Ashland Inc. (NYSE: ASH). Pharmachem è un fornitore leader di ingredienti nutrizionali proprietari e servizi di formulazione personalizzata per l'industria dei nutraceutici. L'azienda conta circa 500 dipendenti distribuiti in quattro impianti produttivi negli Stati Uniti e in Messico.
Come parte dell'acquisizione, Maurice Murphy è stato nominato Presidente Esecutivo e Jeff Rogers come CEO ad interim. Entrambi gli dirigenti portano una notevole esperienza nelle aziende a proprietà privata e nel settore dei nutraceutici. Turnspire punta a sfruttare la propria esperienza nella trasformazione di carve-out aziendali per capitalizzare sulle opportunità di crescita nei mercati di Pharmachem.
Turnspire Capital Partners ha completado la adquisición de Pharmachem Innovations de Ashland Inc. (NYSE: ASH). Pharmachem es un proveedor líder de ingredientes nutricionales patentados y servicios de formulación personalizada para la industria nutracéutica. La empresa cuenta con aproximadamente 500 empleados en cuatro instalaciones de producción en EE.UU. y México.
Como parte de la adquisición, Maurice Murphy ha sido nombrado Presidente Ejecutivo, y Jeff Rogers como CEO interino. Ambos ejecutivos aportan una experiencia significativa en negocios de capital privado y en el sector nutracéutico. Turnspire busca aprovechar su experiencia en transformar carve-outs corporativos para capitalizar en las oportunidades de crecimiento en los mercados de Pharmachem.
Turnspire Capital Partners가 Ashland Inc. (NYSE: ASH)로부터 Pharmachem Innovations를 인수 완료했습니다. Pharmachem은 영양 성분과 맞춤형 조제 서비스의 선도적 공급업체입니다 nutraceuticals 산업을 위해. 이 회사는 미국과 멕시코의 4개의 생산 시설에 약 500명의 직원을 두고 있습니다.
인수의 일환으로 Maurice Murphy가 임원 의장으로 임명되었고, Jeff Rogers가 임시 CEO로 임명되었습니다. 두 임원 모두 사모펀드 소속 기업 및 nutraceuticals 부문에서 상당한 경험을 가지고 있습니다. Turnspire는 기업의 carved-out 전환에 대한 전문성을 활용하여 Pharmachem의 시장에서 성장 기회를 포착할 계획입니다.
Turnspire Capital Partners a achevé l'acquisition de Pharmachem Innovations auprès d'Ashland Inc. (NYSE: ASH). Pharmachem est un fournisseur de premier plan d'ingrédients nutritionnels propriétaires et de services de formulation sur mesure pour l'industrie des nutraceutiques. L'entreprise compte environ 500 employés dans quatre installations de production aux États-Unis et au Mexique.
Dans le cadre de l'acquisition, Maurice Murphy a été nommé Président Exécutif et Jeff Rogers comme CEO par intérim. Les deux dirigeants apportent une expérience significative dans les entreprises détenues par des fonds privés et le secteur des nutraceutiques. Turnspire vise à tirer parti de son expertise dans la transformation des carve-outs d'entreprise pour capitaliser sur les opportunités de croissance sur les marchés de Pharmachem.
Turnspire Capital Partners hat die Übernahme von Pharmachem Innovations von Ashland Inc. (NYSE: ASH) abgeschlossen. Pharmachem ist ein führender Anbieter von proprietären Nährstoffbestandteilen und maßgeschneiderten Formulierungsdiensten für die Nutraceuticals-Branche. Das Unternehmen beschäftigt etwa 500 Mitarbeiter in vier Produktionsstätten in den USA und Mexiko.
Im Rahmen der Übernahme wurde Maurice Murphy zum Vorstandsvorsitzenden ernannt und Jeff Rogers zum Interims-CEO. Beide Führungskräfte bringen umfangreiche Erfahrungen in privatem Eigenkapital und im Nutraceuticals-Sektor mit. Turnspire zielt darauf ab, seine Expertise in der Transformation von Unternehmens-Carve-outs zu nutzen, um Wachstumschancen in Pharmachems Märkten zu nutzen.
- Acquisition of a leading nutraceuticals business with proprietary ingredients and formulation capabilities
- Appointment of experienced executives with relevant industry expertise
- Potential for growth and transformation under new ownership
- Broad portfolio of active ingredients and formulation aids
- Custom formulation and contract manufacturing capabilities
- None.
Insights
The acquisition of Pharmachem by Turnspire Capital Partners is a strategic move in the nutraceuticals industry. This transaction could potentially unlock value for both parties. For Ashland, it allows them to streamline their portfolio and focus on core businesses. For Turnspire, it provides entry into the growing nutraceuticals market, estimated to reach
The appointment of experienced executives like Maurice Murphy and Jeff Rogers signals Turnspire's intent to drive growth and operational improvements. Their track records in private equity-owned businesses and nutraceuticals, respectively, could lead to enhanced performance and potential value creation. However, investors should monitor how smoothly the transition from Ashland's ownership occurs, as carve-outs can sometimes face integration challenges.
This acquisition positions Pharmachem to capitalize on several key market trends. The global shift towards preventive healthcare and increasing consumer interest in dietary supplements are driving growth in the nutraceuticals sector. Pharmachem's broad portfolio of ingredients and formulation capabilities aligns well with the demand for personalized nutrition solutions.
The company's presence in the U.S. and Mexico also provides a strategic geographic advantage for serving North American markets. However, competition in this space is intense, with large players like DSM and Lonza dominating. Pharmachem will need to leverage its new ownership and leadership to differentiate itself and capture market share in this rapidly evolving industry.
From a legal perspective, this acquisition raises several important considerations. First, the transition of employees and assets from Ashland to Turnspire's affiliate must comply with employment laws and contractual obligations. Second, as Pharmachem operates in the highly regulated nutraceuticals industry, ensuring continuity of regulatory compliance during the ownership change is crucial.
The involvement of Winston & Strawn as legal counsel suggests that due diligence was likely thorough. However, investors should be aware that post-acquisition disputes can arise, particularly in carve-out situations. It will be important to monitor any potential legal challenges or regulatory issues that may emerge as Pharmachem operates under new ownership.
Additionally, Turnspire Operating Partner Maurice Murphy has been appointed Executive Chairman, and Jeff Rogers has been appointed Interim Chief Executive Officer of Pharmachem.
Pharmachem is a leading provider of proprietary nutrition ingredients and custom formulation services that supplies a broad portfolio of both active ingredients and formulation aids to nutritional product companies. The Company also offers custom formulation and contract manufacturing capabilities for the nutrition market, handling everything from formula design and ingredient sourcing to finished product manufacturing. Pharmachem has approximately 500 employees located at four production facilities in
Mr. Murphy is an accomplished executive who has successfully led numerous private equity-owned businesses, including several carve-outs. He was President and Chief Executive Officer of UPG Company LLC, a Turnspire portfolio company from 2016 through 2022, executing a dramatic strategic, commercial and operational transformation that resulted in outsized returns for Turnspire investors.
Mr. Rogers has deep domain expertise in nutraceuticals, with over 30 years of relevant executive, commercial and operational experience. He was President and Chief Operating Officer of Niacet Corporation from 2019 through 2023, significantly contributing to a very successful exit for its private equity sponsor. He previously served in progressively senior roles at National Starch & Chemical, Ashland and Lonza.
Turnspire Managing Partner Ilya Koffman said, “We are excited to acquire Pharmachem and its highly compelling formulation and manufacturing capabilities, underpinned by a broad portfolio of proprietary ingredients. Led by Maurice and Jeff, and with the benefit of Turnspire’s extensive experience transforming corporate carve-outs into thriving standalone companies, Pharmachem is well positioned to capitalize on attractive growth opportunities in its markets.”
Mr. Murphy added, “I am delighted to join Pharmachem and to once again partner with Turnspire, which has a fantastic track record of supporting management teams to create and grow best-in-class businesses. I look forward to working with Jeff and the talented employees to build on Pharmachem’s rich legacy as an innovator in the exciting and rapidly growing nutraceuticals space.”
Winston & Strawn LLP acted as legal counsel and Piper Sandler & Co acted as financial advisor to Turnspire on the transaction.
About Turnspire Capital Partners
Turnspire Capital Partners invests in high-quality businesses that have reached strategic, financial or operational inflection points and stand to benefit from our hands-on, operationally focused approach. Turnspire’s investment philosophy is predicated on creating value through operational improvements rather than through financial leverage. Turnspire strives to make each of its portfolio companies best-in-class in their respective industry niche, and then to grow the businesses through organic initiatives or strategic acquisitions. For additional information, please visit www.turnspirecap.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240903797421/en/
Mark Semer
Gasthalter & Co.
(212) 257-4170
turnspire@gasthalter.com
Source: Turnspire Capital Partners LLC
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