HEARTWOOD PARTNERS' PORTFOLIO COMPANY SOMAFINA STRENGTHENS NUTRACEUTICAL MANUFACTURING EXPERTISE WITH UST ADD-ON ACQUISITION

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Feb 06, 2024, 08:30 ET

NORWALK, Conn., Feb. 6, 2024 /PRNewswire/ -- Heartwood Partners is pleased to announce that its portfolio company Somafina ("Somafina" or "the Company") has acquired UST Corporation ("UST"), a contract manufacturer of vitamins, minerals, and supplements based in Layton, Utah. UST offers an end-to-end solution for its customers, ranging from formulation and product development to production and packaging. In addition, with an ISO-certified in-house testing lab, UST is dedicated to the science-based production of the latest supplement types and formats.

Somafina Nutraceutical Builders Logo

"We are deeply excited to partner with UST. Situated in a key hub of nutraceutical supplement manufacturing in greater Salt Lake City and with significant production capacity, UST is on an exciting growth path. Our combined production capabilities, spanning across capsule, gummy, powder, and liquid format manufacturing, means Somafina is well situated to service the broad product set requirements of our supplement brand customers moving forward," said John Niemi, CEO of Somafina.

"The acquisition and integration of UST enables Somafina to offer the highest quality in nutritional supplements, attractive lead times, and MoQ flexibility. Additionally, UST's 20+ year history of commitment to quality and ISO-certified laboratory testing provides our customers with vital quality, technical, and formulation expertise," continued John. "Their two-decade track-record of growth and innovation in the nutraceutical category is unmatched."

"We are thrilled with this strategic add-on acquisition and Somafina's potential moving forward," said James Sidwa, Partner, Heartwood Partners. "Somafina continues to expand its capabilities across manufacturing, ingredient formulation, and quality with the focused goal of supporting its customers."

Heartwood Partners would like to recognize the investment banking team at Alantra for their efforts in closing this transaction and making this partnership possible.

About Heartwood Partners. Heartwood Partners, a middle market private equity firm founded in 1982, is differentiated by a unique lower-leverage, current cash yield approach designed to create partnership with continuing management. Our approach combines a conservative capital structure with strategic execution to support long-term growth, including organic and acquisition-driven expansion into new products, services, and end markets. In addition, we support each management team with our in-house Value Creation Specialists who provide deep, subject-matter expertise in strategic areas such as eCommerce and digital marketing, human capital and organizational design, IT improvement and acquisition integration. We currently manage over $1.7 billion in investments and commitments, and our principals have invested in more than 100 platform and add-on acquisitions. Heartwood is currently investing from Heartwood Partners IV, LP, and is focused on founder, family and management-held businesses serving the food, agriculture, specialty chemicals, niche manufacturing, packaging, and industrial & consumer services markets. For additional information about Heartwood, please visit www.heartwoodpartners.com.

About Somafina: Somafina is a dynamic player in nutraceutical manufacturing, committed to empowering creators of innovative supplements to build, scale, and grow their businesses. The Company's expert formulators, flavor chemists and factory engineers ensure optimum efficacy and appeal of clients' products. Delivery formats include capsules, liquids, powders, tablets and the latest in gummy technology—all produced in a fully credentialed, state-of-the-art facilities. Somafina is dedicated to collaborative relationships in an industry that was created to enhance people's health and wellbeing. For more information, please visit www.somafina.com.