NEW YORK — Turning Rock Partners (“TRP” or “Turning Rock”) announces the closing of a structured equity financing to support Harlan Bakeries LLC’s acquisition of AmeriQual Group Holdings, LLC. Existing shareholders and management also participated in the new round of capital. AmeriQual is a privately held food company based in Evansville, IN.
Harlan Bakeries LLC has a long history in bakery goods and in contract manufacturing. Harlan Bakeries President Hugh Harlan said, “I am excited for the opportunity to work with all of our employees to vertically integrate both businesses and to ensure continued growth and success for both companies.”
“The existing management of AmeriQual, led by President Dennis Straub and the team, has built an exceptional business,” said Louis Mayer, Vice President at Turning Rock Partners. “Harlan Bakeries has decades of expertise in this area and a commitment to scaling the business. Turning Rock recognized the synergies between the two firms and their commitment to quality, safety and their communities. We are delighted to partner with both firms on this transaction.”
AmeriQual Group President Dennis Straub added, “The AmeriQual team is excited to be partnering with Harlan Bakeries as we move towards the next phase of our company’s growth. We believe that there are multiple growth opportunities with this combination and that our company cultures are very similar. We are excited about our future!”
Turning Rock was advised by David McLean of McGuire Woods. Ryan Crumpler of Meridian535 Strategies provided third-party customer contract assessments. Lampert Capital Advisors served as buy-side advisor on the deal. E&Y provided accounting and audit advisory services.
Turning Rock Partners
Turning Rock Partners pursues debt, equity and hybrid investments in lower-middle market businesses in North America. For more information, please visit www.turningrockpartners.com or call 212-207-2390.
Harlan Bakeries, LLC
Headquartered in Avon, IN, Harlan Bakeries is a privately owned family company, celebrating its 30th year in business.
AmeriQual Group Holdings, LLC
Headquartered in Evansville, IN, AmeriQual is a privately owned company focused on food packaging and distribution.
