Excited to announce that TraceGains, the food & beverage industry’s leading supply chain management, compliance, and new product development platform, has been acquired by Veralto (NYSE: VLTO) for $350 million. Lightning Partners served as the exclusive financial and strategic advisor to TraceGains.
This is another example of our ability to efficiently complete transactions with strategic acquirers at premium valuations. The transaction also highlights our continued success with network-based business models and in various core end markets such as vertical software, #supplychain, industrial / #manufacturing software, and #compliance.
Congratulations to investors Kinetic Capital as well as TraceGains CEO Gary Nowacki and his team, who have built an industry-leading portfolio of #SaaS applications that are supported by its unique network of suppliers and CPG brands. Trusted by more than 1,200 global clients, including half of the world’s top 100 food and beverage manufacturers, the TraceGains network connects brands, manufacturers, and retailers via a vast ecosystem of >70,000 supplier locations and a comprehensive database of >500,000 ingredients and products spanning more than 150 countries.
Thanks TraceGains leaders A.J. Dolan, Steven Posey, DBA, Michael Hubbard, Greg Heartman, Gary Walters, Gary Iles.
Also special thanks to the awesome work by the legal team at Katten Muchin Rosenman LLP, including Jeffrey Patt, Bret Diskin, Julia Brook, Alexander Minuete Lovrine, and Josh Lewis.
Congratulations to the Lightning Partners banking team on another successful transaction!
#mergersandacquisitions #mergers #acquisitions #privateequity #venturecapital #SaaS #software #ai #artificialintelligence #technology #analytics #riskmanagement #retail #foodandbeverage #foodindustry #foodmanufacturing #foodtech #branding #mergersandacquisitions #ESG #productdevelopment #data #sustainability
Innovation | Strategy | Consulting | Food & Beverage | CPG | Ex Yum & Unilever Brand Manager
4moMcKinsey came to the same conclusion in their 2020 report "Innovation in a Crisis". "Not only did through-crisis innovators outperform in the crisis by 10% but they also outperformed the market by upward of 30% in post-crisis years." https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/innovation-in-a-crisis-why-it-is-more-critical-than-ever