St. Louis, MO – (Oct. 1, 2015)  Nolan & Associates is pleased to announce that it exclusively advised National Enzyme Company, Inc. (NEC) in its sale to Prairie Capital L.P. (Prairie) and Skyline Global Partners (Skyline).

Our Client: National Enzyme Company

  • National Enzyme Company is the leading global contract manufacturer of enzyme-based vitamin, mineral and supplement (VMS) products serving the health & wellness marketplace.
  • In addition to its contract manufacturing offering, NEC operates two-wholly owned subsidiaries: SORA Laboratories and American Animal Nutrition.
  • SORA Laboratories is an ISO 9001 and ISO 17025 certified laboratory providing full-service analytical, microbiological, and physical testing services to the VMS, industrial and food industries.  SORA maintains FDA cGMP compliance for the VMS industry.
  • American Animal Nutrition provides customized vitamin, mineral and supplement solutions to the animal health market segment.
  • Founded in 1945, NEC employs 140 people in the Branson, Missouri area.

Objectives of National Enzyme Company

  • The Company’s founder sought a sale for estate planning purposes and to secure an exit partner that would continue NEC’s legacy from a product, operational and cultural perspective.
  • NEC, along with its subsidiaries, represented a unique opportunity for a buyer to invest in the global leader in enzyme-based VMS solutions.

Solution: Sale to Prairie Capital L.P. and Skyline Global Partners

  • Nolan marketed NEC’s best-in-class enzyme expertise, one-stop shop production, extensive product portfolio and broad services as an attractive acquisition or investment opportunity.
  • Included in the list of potential buyers and investors was Prairie Capital, a Chicago-based private equity firm that has invested over $800MM over five funds in middle market businesses since the firm’s founding in 1997.
  • Prairie was included in the NEC sale process because of their activity in the VMS industry and reputation as a high quality, Midwestern investor with a proven track record.

Sell Side Process Results

  • Prairie presented National Enzyme’s stockholders with the best acquisition proposal which included a combination of favorable economics, certainty to close and operational/cultural considerations.
  • The Nolan process created a sense of scarcity, competition and momentum, which resulted in potential buyers and investors submitting their best bids to acquire NEC.

About Nolan & Associates

Nolan & Associates is a boutique investment banking firm providing Mergers & Acquisitions and Capital Raise advisory services to middle market business owners and buyers.  Founded in 1976, Nolan is broadly recognized as a leading investment banking firm with Midwestern roots and global reach.  The Nolan team has completed hundreds of transactions in the middle market while working collaboratively from its offices in St. Louis, MO and Decatur, IL.

Securities offered through Middle Market Transactions, Inc.  Member: FINRA/SIPC.

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