Benford Capital Partners: 2023 Year in Review
Despite a challenging M&A market, 2023 was another productive year for Benford Capital Partners (“BCP”). We completed 8 acquisitions (3 platforms and 5 add-ons) and successfully exited Saco Foods, a Pre-Fund platform, in early January 2024. Additionally, we continued to build our team to support the growth of the firm.
We also reinforced our commitments to mentorship, skill development, and social impact. Our summer internship program provided training and “real world” experience for 5 determined individuals. And for the third consecutive year, our team was a proud supporter of World Bicycle Relief.
We continue to invest from our $200 million Fund II and remain focused on majority recapitalizations and succession buyouts of founder and family-owned companies in the following industries: Industrial Technology, Food & Consumer, Agriculture Products & Services, and B2B E-commerce.
3 New Platform Companies
Legacy Bakehouse – Legacy Bakehouse is a leading developer and manufacturer of baked snack ingredients, including bagel chips, rye chips, pita chips, and other ingredients for leading CPG and retail customers.
BSC Industries – BSC is a leading independent value-added distributor and engineered-solutions provider of bearings, power transmission components, motion control products, and electrical and automation products sold to OEM and MRO customers across diverse end markets.
RP Foods – RP Foods is a leading branded, private label, and B2B Hispanic food and beverage products company selling to retail and CPG food customers across the United States and internationally. The Company’s product lines include Kuii coconut milk beverages, Masabrosa corn masa flour, tostadas, and cookies.
5 Add-On Acquisitions
Hosh International – Value-added supplier of fruit and vegetable juice concentrates and purees to global CPG companies.
Nutrition Service Company:
Northern Iowa Grain Processors – Value-added soy-based ingredient manufacturer serving the dairy industry.
Solo Foods – Leading supplier of branded cake & pastry fillings, nut pastes, and marzipan products.
Pajarito Scientific Corporation – Leading provider of highly engineered safety systems, technical field services, and instrumentation for DOE and commercial nuclear customers.
Gum Products International:
International Protein Colloids – Developer and producer of functional gelatin stabilizer blends.
ABOUT BENFORD CAPITAL PARTNERS
Founded in 2004, Benford Capital is a Chicago-based private equity firm focused on buying and building leading lower middle market companies in partnership with founders and management. Since inception, Benford Capital has acquired 50 companies and currently owns 16 platform companies. BCP’s industry areas of focus include industrial technology, food and consumer products, agricultural products and services, and B2B e-commerce. For more information, please visit www.benfordcapital.com.