TLC Ingredients

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TLC Ingredients Logo has been acquired by TLC Ingredients  Logo a portfolio company of Gemspring Capital  Logo

Overview

  • Based outside of Chicago, TLC Ingredients is a leading distributor of chemicals to various end markets, including food, nutrition, pharmaceuticals, home, personal & institutional care, and industrial specialties.
  • The Company’s diversified product offerings, attractive end markets, blue chip customer base, and its stellar reputation in the market made it a highly sought after asset
  • Cascadia Capital acted as the sole financial advisor to TLC in its eventual sale to Shrieve Chemical, a Texas based strategic acquirer backed by Gemspring Capital, a private equity firm specializing in growth investments across a broad range of markets

Situation

  • The Company had two shareholders both seeking a liquidity event, though one sought a pathway to retirement while the other wished to remain with the business long term as the CEO
  • Both shareholders were willing to remain with the business for a transition period, helping new ownership with integration efforts
  • Cascadia was hired to engage a buyer that would align with TLC’s culture, retain the Company’s superior reputation, and care for its employees, while offering flexibility to the two shareholders and their individual goals

Our Specialized Approach

  • A broad process was run inclusive of both strategic and financial buyers with expertise in the broader chemical distribution space
  • A strategic and focused auction was run to drive terms and value
  • The Company received over 15 indications of interest and multiple parties proceeded to submit letters of intent
  • Cascadia achieved an optimal outcome by driving a highly competitive process and finding the solution that best fits the client’s needs
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