NEW YORK — Private equity firm The Jordan Co. has finalized a strategic partnership with Sunny Sky Products, a producer of dispensed beverage solutions, offering hot, cold, frozen and beverage-enhancer products for the convenience store and foodservice industry. The deal gives an exit to Seidler Equity Partners, a longtime minority shareholder.
The products from Sunny Sky, which at the start of 2020 acquired beverage maker Amfotek, include specialty coffee and hot chocolates, fountain drinks, slushies, sweeteners, smoothies, energy drinks and teas. It employs about 200 across two manufacturing facilities at its headquarters in Houston as well as in Tinley Park, Ill.
Sunny Sky’s founder, Ashley Edens, will continue as president and CEO. Edens and his team of senior executives have been instrumental in Sunny Sky’s track record of performance and are well positioned to lead the business going forward, the company said. Resolute V’s investment will provide Sunny Sky’s management team with significant resources to support both organic growth and strategic acquisitions.
“Ashley has been an incredible partner for the last decade, driving tremendous product innovation and best-in-class customer service, while building a culture that has attracted and retained a phenomenal team,” said Eric O’Brien, a partner at Seidler. “We have had a remarkable run during our partnership, which saw the company's EBITDA [earnings before interest, taxes, depreciation and amortization] grow more than fivefold through a combination of steady organic growth and six acquisitions.”
Edens added, “When searching for a new partner, I looked for a firm that took a similar approach to Seidler in terms of how they approach business. I also wanted to ensure our future partner shared my vision for Sunny Sky and our core values. The Jordan Co. [TJC] has an impeccable reputation and is known in the investment community for acting as a great partner and backing great companies. With the help of TJC and their capital, relationships and expertise, we will have additional financial resources to make acquisitions, add new manufacturing capabilities and continue to become more relevant and essential to our customers."
New York-based The Jordan Co., founded in 1982, has managed funds with original capital commitments in excess of $17 billion. It has 39 years of experience investing in and contributing to the growth of many businesses across a wide range of industries.
Based in Marina del Rey, Calif., Seidler Equity Partners and its affiliates have been investing in companies since 1992.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.