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MidOcean Partners has announced that it has acquired QualiTech, a manufacturer of food ingredients and specialty nutrition products. Based in New York, MidOcean Partners is an alternative asset manager specialising in mid-market private equity and alternative credit investments. The transaction, which transfers ownership of QualiTech to MidOcean from the Ploen family, aims to pave the way for new investment to expand capabilities and capacity and drive “new levels of growth”. Terms of the transaction were not disclosed. Founded in 1967 and headquartered in Chaska, Minnesota, QualiTech produces a variety of savoury blends for food products, vitamins and minerals. QualiTech CEO Mike Hodgens described the acquisition as a major milestone for QualiTech as the company continues to strategically scale its products and services. He commented: “The only thing more remarkable than the significant growth and success that QualiTech has experienced over the past several years is the opportunity that lies before us”. “We are confident that MidOcean’s significant industry knowledge in the food value chain, deep operational expertise, and track record of successfully growing food and ingredients businesses will help QualiTech accelerate our growth and build on the strong foundation we have established over the last 57 years.” QualiTech’s business operates across several key focus areas within MidOcean’s food value chain initiative. MidOcean’s investment in the company follows others it has made in the food and ingredient product industries, including Florida Food Products and Casper’s Ice Cream. MidOcean said it plans to leverage its food industry expertise to support QualiTech’s continued growth through both organic investments in R&D and product innovation, and strategic transactions. Steven Loeffler, principal at MidOcean said: “QualiTech’s multiple distinct business lines afford MidOcean an exciting opportunity where we can help the company continue to build upon its rich heritage and scale its exceptional product offerings. QualiTech’s excellence in food ingredients, animal nutrition and plant nutrition, are highly synergistic with MidOcean’s expertise in the food ecosystem.”