Heartwood Partners is pleased to announce that its portfolio company Somafina (“Somafina” or “the Company”) has acquired UST Corporation (“UST”), a contract manufacturer of vitamins, minerals, and supplements based in Layton, Utah. UST offers an end-to-end solution for its customers, ranging from formulation and product development to production and packaging. In addition, with an ISO-certified in-house testing lab, UST is dedicated to the science-based production of the latest supplement types and formats.
“We are deeply excited to partner with UST. Situated in a key hub of nutraceutical supplement manufacturing in greater Salt Lake City and with significant production capacity, UST is on an exciting growth path. Our combined production capabilities, spanning across capsule, gummy, powder, and liquid format manufacturing, means Somafina is well situated to service the broad product set requirements of our supplement brand customers moving forward,” said John Niemi, CEO of Somafina.
“The acquisition and integration of UST enables Somafina to offer the highest quality in nutritional supplements, attractive lead times, and MoQ flexibility. Additionally, UST’s 20+ year history of commitment to quality and ISO-certified laboratory testing provides our customers with vital quality, technical, and formulation expertise,” continued John. “Their two-decade track-record of growth and innovation in the nutraceutical category is unmatched.”
“We are thrilled with this strategic add-on acquisition and Somafina’s potential moving forward,” said James Sidwa, Partner, Heartwood Partners. “Somafina continues to expand its capabilities across manufacturing, ingredient formulation, and quality with the focused goal of supporting its customers.”
Heartwood Partners would like to recognize the investment banking team at Alantra for their efforts in closing this transaction and making this partnership possible.
Please contact the following members of the investment team at Heartwood Partners with investment or add-on opportunities:
James Sidwa, Partner
John Willert, Partner
jwillert@heartwoodpartners.com
John Newman, Principal
James Jang, Principal
Angus Bass, Senior Associate