Turnspire Capital Partners to Acquire Ashland Nutraceuticals Business
Summary
Ashland Nutraceuticals has approximately 500 employees located at four production facilities in New Jersey and Utah in the United States, and Tamaulipas, Mexico. Turnspire Managing Partner Ilya Koffman said, “ We are thrilled to acquire this great platform with strong formulation and manufacturing capabilities, underpinned by its portfolio of proprietary ingredients, that position it as a supplier of choice to global multinationals and emerging brands alike. As an independent company benefiting from Turnspire’s extensive experience transforming corporate carve-outs into thriving standalone companies, the Business can build upon its capabilities to achieve sustainable, profitable growth.” Completion of the transaction is expected in the calendar third quarter of 2024. 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.