IK Investment Partners acquires Innovad
Wednesday, February 17, 2021
Innovad® will be acquired by IK Investment Partners through its IK IX Fund. IK will acquire the majority of the shares from the founders of Innovad. The acquisition has no consequences for the core activities nor the other stakeholders of the company.
Concurrently, IK is acquiring Add-Co Nutrition in Italy and Add-Essens, which is specialized in the extraction of plant/fruit-based ingredients. Following the transaction, Jamal Al Saifi, founder and majority shareholder, will retire from the business and Ben Letor, co-founder, will become the new CEO of Innovad Group.
Jamal Al Saifi, majority shareholder and founder of Innovad, said that “over the past ten years, we have built Innovad into one of the leading global feed additives players supporting over 200 customers across more than 65 countries. Innovation has been an integral part of Innovad as evidenced by our innovative and solid solutions setting the industry standard for animal health and well-being. Innovation, creativity and solid science are ingrained in our culture and together with the expertise, dedication and commitment of our team, it has made the company into what it is today. Innovad is ready for a next growth phase under IK’s and Ben’s leadership.”
Remko Hilhorst, partner at IK and advisor to the IK IX Fund, said that “Innovad has an impressive track record, with plenty of runway for future growth, both organically and through selected add-on opportunities. The market for sophisticated animal health products has never been stronger, and we are excited to support the new team under Ben to further develop the platform of opportunity.”
IK Investment Partners is a Pan-European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK that supports companies with strong underlying potential.
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