Chicago-based private equity investment firm Wind Point Partners has acquired Hearthside Food Solutions, a co-packer and manufacturer of granola and cereal bars, snack mix components, a
Chicago-based private equity investment firm Wind Point Partners has acquired Hearthside Food Solutions, a co-packer and manufacturer of granola and cereal bars, snack mix components, and other baked items.
The financing was executed by CIT Investment Banking Services, Sponsor Finance and CIT Commercial & Industrial through CIT Bank, a Utah state bank. Terms of the transaction were not disclosed.
‘We are pleased to support Wind Point Partners in its successful acquisition of Hearthside Food Solutions,’ says Rajiv Chudgar, director of CIT Investment Banking Services. ‘Our strong relationship with Wind Point and direct experience in both the food manufacturing and packaging sectors allowed us to support them throughout the entire process and successfully execute the transaction despite the challenging financing market.’
Mark Burgett, managing director, Wind Point Partners, says: ‘CIT has been a valued partner of Wind Point, and has consistently supported a number of our transactions. Hearthside represents the sixth deal that CIT has led or co-led for us in the last three years. CIT’s client dedication, broad industry expertise, and ability to navigate through challenging credit markets have resulted in another seamless financing execution. We look forward to continuing our relationship with CIT.’
