“Our intention at New Water is to help and invest in firms with enduring price propositions,” explained New Drinking water Cash husband or wife Jason Neimark. “We are pretty happy of CMM’s achievements, and we have each assurance the business will go on its amazing progress trajectory and achievements beneath its new possession.”
“As customer need for clean, prepared-to-prepare dinner food items has skyrocketed in new several years, the CMM team’s creative abilities, skilled management and recognized interactions within just the business have positioned the business, with New Water’s operational management and help, as a main contender in the U.S. market,” said CMM President and CEO Dale Easdon. “The complete CMM workforce is psyched to be part of this upcoming phase in the company’s accomplishment.”
New H2o Cash acquired CMM in 2017 as a section of a broader thesis that identified considerable development in the fresh foods classification, in particular for organizations like CMM that were being providing a significant benefit proposition to equally the retail consumer and the close purchaser. In the course of its partnership with New H2o, CMM invested in the leadership crew, manufacturing infrastructure and automation technologies to noticeably grow potential, streamline the provide chain and scale the business enterprise. In its four several years as a New H2o Cash enterprise, CMM expanded its U.S. client foundation from close to 6,000 grocery retail places to presently serving far more than 15,000 retailer locations nationwide with unmatched solution SKU breadth, depth and complexity.
New Drinking water also invested efficiently in CMM’s human funds: CMM was named a Best Colorado Workplace by The Denver Put up for the earlier 3 a long time. The Denver Article also honored Easdon as a Major CEO of a mid-sized organization in 2021. CMM CFO and Chief Administrative Officer Sean Saunders a short while ago was named a 2021 Titan 100, a application recognizing the best CEOs and C-stage executives in Colorado.
New H2o Capital’s good results with CMM is exemplary of New Water’s investment decision approach, which focuses on giving funding guidance and operational skills to promising organizations in active industry sectors, empowering them to realize their subsequent degree of advancement.
New Water carries on to continue being lively investing in the food stuff place, which contains its latest portfolio corporations Pegasus Meals, a main contractor manufacturer of frozen appetizers and treats, and The Best Chunk Co., a major analysis, advancement and ideation company for the frozen food items industry.
Phrases of the transaction, which was facilitated by Baird, had been not disclosed.
About New H2o Cash L.P.
New Drinking water Capital L.P. is a private equity organization focused on decreased-middle market place corporations in the shopper products and solutions and industrial production and providers sectors with revenues of $30 million to $300 million. New Drinking water Capital’s collaborative transaction and working product is developed particularly to aid organizations in changeover, creating on their one of a kind cultures and strengths. For additional info, remember to visit www.newwatercap.com.
About Custom made Produced Foods
Personalized Built Foods is a Denver-primarily based foremost maker of clean, oven-all set, benefit-included entrees and appetizers offered by a lot more than 15,000 retail grocery areas nationwide.
Speak to: Bonnie Osborn
Source New H2o Capital, L.P.