Novel is a leading supplier of botanicals, proteins, amino acids, and ingredients to the US dietary supplement industry.
Case Study
Novel Ingredient Services
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How GenNx360 partnered with the Company
Built new facility
Moved to a new CGMP facility with latest blending technologies
Improved revenue growth
Upgraded equipment to increase quality and efficiency, improved sales management and expanded the sales organization, improving sales by 40%
Expanded value added solution capability
Increased formulation capability and suite of branded products
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)