March 21, 2019
CHICAGO, IL – March 21, 2019 | Tilia Holdings (“Tilia”), a Chicago-based private investment firm focused on business services for the food supply chain, completed its investment in Proven Partners Group, LLC (“PPG” or the “Company”) on February 22, 2019. Headquartered in Elgin, Illinois, PPG is a leading contract manufacturer and packager of dried and powdered foods. The Company services global food and beverage customers across a variety of categories, including meal replacement and protein powders, coffee, snacks, creamer, cereal, baking items and other dried and powdered products. PPG’s blending and packaging capabilities and flexible service offerings enable its customers to better manage their complex product portfolios and expand their distribution channel product offerings.
Dave Nelson, a co-founder of PPG, will be leading the company as its Interim Chief Executive Officer. “Proven Partners was founded on a set of core principles focused on food safety, quality and the criticality of supply chain attainment, and over the last fourteen years, we have built strategic relationships with some of the world’s largest and most sophisticated brands in food, nutrition, and health science,” Dave said. He added, “We sought a partner with deep experience in our industry who shared the same core principles. We are excited to begin our next journey with Tilia, who will enhance our continued commitment to our customers.” Tilia has recruited Suley Muratoglu, former Chief Commercial Officer of Owens-Illinois and previously Vice President of Marketing and Product Management of Tetra Pak, to join as President. Ron Markle, former Chief Financial Officer of Mérieux NutriSciences North America, has also joined the company as CFO.
Johannes Burlin, Co-CEO of Tilia who will serve as Chairman of the Board, said, “We are delighted to work with the team at PPG who shares our values and vision for the growth opportunities in the segment.” Eric Larson and JD Elder of Tilia have also joined the Board of PPG.
Eric added, “PPG has some of the strongest customer relationships we have ever seen. Their relationships are a testament to the entire organization’s intense focus on service quality, high food safety standards, and helping their customers deliver innovative products.”
Mayer Brown LLP served as legal advisor to Tilia, and LBC Credit Partners provided debt financing in support of the transaction.
PPG is an outsourced provider of manufacturing and packaging services to major food and beverage companies operating across the food, nutrition, and health science categories. Founded in 2005, PPG is based in Elgin, Illinois. PPG primarily produces dry and free flowing products across multiple blending, filling, and packaging technologies, offering flexible solutions to help customers manage and expand their product portfolios. PPG maintains the highest level of food safety certification for manufacturing and quality as provided by the Safe Quality Foods Institute. For more information, please visit www.provenpartnersgroup.com.
Tilia is a Chicago-based private investment firm focused exclusively on making control investments in the evolving “farm-to-fork” segment of the global food supply chain. Tilia partners with growing, middle market companies who provide business services across the food supply chain and support leading, emerging and private-label CPG brands. The firm’s sector focused strategy is a successful approach to investments that spans three decades. Tilia believes its deep understanding of operations, its subject matter expertise in the food chain, and its disciplined approach to value creation uniquely position the firm to scale business services companies in the lower middle market. Through a value creation & governance model emphasizing stewardship, Tilia builds distinctive growth companies that enhance safety, nutrition & sustainability in the food supply chain. For more information, please visit www.tiliallc.com.