FDL, a Portfolio Company of Highlander Partners, Announces Acquisition of Quest Ingredients
DALLAS, September 6, 2022 /PRNewswire/ — Fuerst Day Lawson Limited (“FDL”), a portfolio company of Highlander Partners, LP, today announced the acquisition of Quest Ingredients Limited (“Quest Ingredients”) from Quest Vitamins Limited. Quest Ingredients, headquartered in Hereford, Englandis a manufacturer of high quality proprietary food flavors, pet food flavors and active botanical extracts with a regular customer base in the food and beverage, pharmaceutical and agricultural industries.
Operations will continue to be conducted from Quest Ingredients’ existing facilities in Hereford, and its collaborators will join the FDL team. The transaction supports FDL’s stated strategic objective to grow in its core markets and customer base by Europe and United States where growth opportunities continue to exist.
Eric BeattyCEO of FDL, said, “We believe the addition of Quest Ingredients is strategic and highly complementary to FDL’s existing portfolio of ingredients and formulated solutions. We are excited to bring Quest Ingredients’ unique process capabilities to existing FDL customers and extend services to Quest Ingredients’ customers with FDL’s product and innovation capabilities. We are excited to work with the Quest Ingredients team to continue to grow the combined business.
Chaz ThomasHighlander Director and FDL Board Member, said, “This acquisition strengthens FDL’s ability to provide custom flavors and botanical extracts to our two customers by expanding our innovation capabilities and expertise. We believe that the growing demand for personalized flavors and natural health-enhancing flavor ingredients will continue to be a priority for our customers, and Quest Ingredients is uniquely positioned to meet these needs. We will continue to be aggressive in growing our innovative ingredient solutions and deepening our capabilities in our core markets.
Jeff L. HullChairman and CEO of Highlander and a member of the FDL Board of Directors, added: “This acquisition further confirms our strategy of executing attractive add-on acquisitions that enhance and expand FDL’s existing expertise in applications and product offerings. We continue to evaluate M&A opportunities and expect to make additional acquisitions in the future.”
Alinea Corporate Finance acted as financial advisor and Higgs LLP acted as legal advisor to Quest Vitamins Limited. NatWest provided senior financing to FDL in support of the transaction.
About Highlander Partners
Highlander Partners, LP is a dallasprivate investment company with over $2 billion of its own capital. The firm focuses on making investments in companies in targeted industries in which the company’s executives have significant operating and investing experience. Highlander Partners uses a buy-and-build investment approach, creating value by helping companies grow both organically and through acquisitions. For more information, visit www.highlander-partners.com.
About Fuerst Day Lawson (FDL)
FDL, founded in 1884 and headquartered in London, UK, is a formulator, developer and manufacturer of proprietary taste and nutritional ingredient solutions for the food, beverage, confectionery and other consumer markets. It offers custom flavors, syrups and sauces, fruit preparations, juices and juice blends, bakery ingredients, energy and fortifying blends and chemical flavorings, supported by deep application development expertise. . FDL serves a global customer base with operations in EuropeUnited States and Asia. For more information about FDL, please visit www.fdlworld.com.
SOURCE Highlander Partners, LP