October 17, 2022
Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to Benford Capital Partners (“Benford”) on its exit of portfolio company Specialty Sales, LLC (“SSLLC”), an industry-leading dairy animal health platform.
Founded in 1999, Specialty Sales is the industry-leading provider of automated hoof bath systems for hoof care hygiene products that maintain hoof health on commercial dairies throughout the United States. SSLLC operates a unique continuous replenishment business model by installing and servicing its best-in-class hoof bath systems and delivering its hoof care hygiene products based on predictive analytics. Under Benford Capital’s ownership, Specialty Sales completed the acquisitions of Bovistride and Enviro-Tech, both in July 2021, and significantly expanded the company’s geographic presence.
Current President & CEO, Don Alsup and other members of the senior leadership team will continue to lead Specialty Sales from their headquarters in Fresno, California.
“I am grateful for the opportunity to advise Specialty Sales through another successful transaction,” said Scott Porter, Cascadia Capital Managing Director. “Since the partnership began in 2018, Benford and senior members of the Specialty Sales management team have taken Specialty Sales from a regional, one-product company to a leading animal health platform.”
“This transaction highlights the ever-increasing investor appetite in the animal health and nutrition sectors. More significantly, it evidences Cascadia’s ability to bring to our client’s relevant industry, product, end market, and business model expertise through collaboration among our Managing Directors,” added Bryan Jaffe, Cascadia Capital Managing Director.
Ben Riefe, Managing Director at Benford Capital Partners, added, “Cascadia’s extensive ag products and services sector expertise, in combination with their deep experience leading sponsor-backed exit processes, resulted in a highly successful outcome for Benford Capital and our investors.”
This acquisition represents another successful transaction in the Agribusiness practice for Cascadia and a continued demonstration of its experience in animal health and nutrition. Cascadia’s Agribusiness practice is one of the largest and most active Agribusiness practices in North America. Select recent transactions include the growth capital investment in Agrovision from responsAbility Investments and Avenue Sustainable Solutions Fund, the CEL Group of Companies’ partnership with Madison Industries, and the sale of The F.L. Emmert Company to Wilbur-Ellis Nutrition.
For more information about this transaction, please contact the Cascadia Capital deal team:
Or other senior members of the Cascadia Food, Beverage & Agribusiness practice:
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