Sequel Industrial Products, Inc., a holding company operating industrial infrastructure businesses, and serving manufacturing, research, chemical processing, and other industries globally, announced on September 28th that it acquired FreshTracks II portfolio company NEHP. The partnership between NEHP and its new affiliates will allow the company to accelerate growth and profitability in key industries. NEHP’s headquarters and a significant amount of its workforce will continue to be based in Vermont, with satellite offices in AZ, OR, and NY.
“This is a great step forward in our company’s history,” indicated Adam Tarr, President of NEHP, “as well as a significant and positive event for NEHP employees, shareholders, and for Vermont”. Tarr went on to say, “The partnership with Sequel and our new affiliates provides NEHP the infrastructure and capital it needs to continue along its aggressive growth trajectory. We have worked closely with some of these companies, I have long respected them and their good work, and I couldn’t be happier about how this partnership came together.”
Cairn Cross, Board Member of NEHP and Managing Director of FreshTracks Capital, an NEHP investor, commented, “This transaction is a great testament to the hard work and remarkable results that Adam and his team have generated at NEHP since we invested in the company back in 2007. The revenue growth the company has recognized and its transition to profitability during some difficult economic times has been impressive.”
The affiliated companies within Sequel share a high-profile client list which has included work with many of the top semiconductor, biomedical, chemical and research companies and institutions in the world. The combination of these fast-growing, strongly profitable companies in this industry creates an opportunity for NEHP to provide its clients with an even broader and more impressive product and customer experience in these markets. Cross commented, “FreshTracks is excited for more great things to come from NEHP and their new affiliates.”Bellmark Partners of Cleveland Ohio acted as an advisor to the sellers.