MIAMI – H.I.G. Capital, LLC, a leading global private equity investment firm,
today announced that an affiliate has acquired Albertville Quality Foods (AQF)
and Southern Quality Meats (SQM). AQF and SQM provide specialized further
processing services for protein-based products.
The companies specialize in poultry and pork based products, and focus on
complex, quick turnaround runs that meet the stringent specifications of its
restaurant, foodservice and retail customers. Superior product quality, industry
expertise, and strong customer partnerships have supported high service levels
and the ability to develop products to meet customized specifications. The
Alabama facility focuses on outsourced third-party processing, primarily of
chicken-based products. The Mississippi plant is a fully-integrated pork sausage
processing operation. AQF and SQM have strong manufacturing capabilities,
significant infrastructure and a long track record of success, making them a
highly attractive platform investment for H.I.G.
H.I.G. teamed with senior management to consummate the transaction. “We are
pleased to work with H.I.G. to leverage their experience growing
service-oriented businesses,” said Don Haynie, Chief Executive Officer of AQF
and SQM. “The recapitalization of our companies allows us to continue growing
our customer base and expanding our facilities. This investment supports our
industry-leading ability to provide specialized and custom products to our
customers with the highest level of quality and service.
“We are excited about the growth prospects of these businesses and intend to
actively support them as they build on their well-deserved reputation,” said
Richard Stokes of H.I.G. Capital. “We have great confidence in the management
team as operators, and believe that H.I.G.s investment will facilitate and
expedite our collective goal of making AQF and SQM the top providers of further
processing services nationwide.”
About Albertville Quality Foods and Southern Quality Meats
Albertville Quality Foods, headquartered in Albertville, AL, and SQM,
headquartered in Pontotoc, MS, have provided further processing services for
foodservice, restaurant and retail customers since 1962. Products such as
breaded chicken tenders, boneless wings, sausage patties, and many others, are
custom produced for hundreds of customers at two state of the art facilities.
For more information, please refer to the AQF website at
www.albertvillequalityfoods.com.
About H.I.G. Capital
H.I.G. Capital is a leading global private equity investment firm with more than
$7.5 billion of equity capital under management. Based in Miami, and with
offices in Atlanta, Boston, New York, and San Francisco in the U.S., as well as
affiliate offices in London, Hamburg and Paris in Europe, H.I.G. specializes in
providing capital to small and medium-sized companies with attractive growth
potential. H.I.G. invests in management-led buyouts and recapitalizations of
profitable and well managed manufacturing or service businesses. H.I.G. also has
extensive experience with financial restructurings and operational turnarounds.
Since its founding in 1993, H.I.G. invested in and managed more than 200
companies worldwide. The firm’s current portfolio includes more than 50
companies with combined revenues in excess of $8 billion. For more information,
please refer to the H.I.G. website at
www.higcapital.com.
Source:
H.I.G. Capital