Case Study

Novel Ingredient Services

Novel is a leading supplier of botanicals, proteins, amino acids, and ingredients to the US dietary supplement industry.

Headquarters
West Caldwell, NJ
Fund
Fund II
Acquired
March 2014
Status
Monetized in 2017

How GenNx360 partnered with the Company

Built new facility
Built new facility

Moved to a new CGMP facility with latest blending technologies

Improved revenue growth
Improved revenue growth

Upgraded equipment to increase quality and efficiency, improved sales management and expanded the sales organization, improving sales by 40%

GenNX360
Expanded value added  solution capability
Expanded value added solution capability

Increased formulation capability and suite of branded products

Professionalized team
Professionalized team

Augmented leadership team

Transaction Sourcing
  • Food ingredients identified as a target market
  • Initiated proactive sourcing process
  • Partnered with nutraceutical executive
  • Able to move quickly when Novel brought to market
Investment Highlights
  • Professionalized management where gaps exist
  • Expand value add solutions capability (manufacturing, complex blends, branded products)
  • Drive continued organic revenue growth
  • Implement value pricing
  • Enhance margins through efficiency initiatives
  • Pursue inorganic growth
Key Initiatives Under GenNx Ownership
  • Hired a new Director of Operations to drive efficiencies and good manufacturing practices
  • Moved to a new CGMP facility with latest blending technologies
  • Upgraded equipment to increase quality and efficiency
  • Increased branded products portfolio from 1 to 6
  • Implemented multiple process-oriented cost reduction initiatives
  • On Aug’17, completed sale of Novel to Innophos (NASDAQ: IPHS)

 

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