CHICAGO and AMARILLO, Texas, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Granite Creek Capital Partners, L.L.C., a private investment firm based in Chicago, today announced its investment supporting the management buyout of Global Animal Products ("GAP” or the "Company”), a manufacturer of feed additives for the beef, dairy, and poultry markets. Granite Creek's investment in GAP leverages its animal health and nutrition experience, expanding its growing portfolio of companies in the agribusiness sector.
As part of the transaction, Granite Creek and GAP founder Ken Ridenour worked together to recapitalize the business and provide financial support to enable existing management and employees to buy into the company's ownership. Following the closing, Ken will step back from active management, retaining a minority stake in the company and a role on the Board of Directors. GAP CEO Ben Tarr will continue to lead the company with strategic support from Granite Creek and its Operating Partner, Mike Ray.
"Ken has created and fostered a company with a high-quality product and a remarkable customer-centric culture,” said Granite Creek Partner, Jim Clark. "We believe that GAP has all the necessary attributes for continued success and look forward to working with Ken, Ben, and the rest of the management team to propel GAP into its next phase of growth while maintaining its core values and product reputation.”
Granite Creek's investment will help further scale the organization, accelerate product development, and expand the facility to support market opportunities domestically and internationally. The management team of GAP has a pipeline of business development initiatives that it looks forward to implementing in 2025 and beyond.
"We are excited to partner with Granite Creek in our management buyout,” said GAP CEO, Ben Tarr. "Beyond providing capital, Granite Creek has a strong track record of working in agribusiness and brings a great Operating Partner in Mike Ray who knows our products and customer markets. With Mike's support, we believe that we can accelerate the growth of GAP.”
Granite Creek's Jim Clark and Mike Ray will join Global Animal Product's Board of Directors.
About Global Animal Products
Founded in 1995, Global Animal Products is a family-owned, vertically integrated company that manufactures and distributes high-quality complexed trace minerals for livestock, with a focus on liquid applications. Headquartered in Amarillo, Texas, the Company operates distribution facilities in Garden City, KS, and Queretaro, Mexico.
About Granite Creek Capital Partners
Founded in 2005, Granite Creek Capital Partners, L.L.C. is a Chicago-based private investment firm focused on providing capital and operational resources to lower middle market companies in manufacturing, business services, healthcare, and agribusiness. With an experienced team of investment professionals bringing expertise in private equity, banking, operations, and business development, Granite Creek has a successful track record of investing in and supporting its portfolio companies. Granite Creek has been named to Inc.'s Founder-Friendly Investors list for five consecutive years, recognizing the private equity and venture capital firms with the best track record of success in backing entrepreneurs. For more information on Granite Creek, visit www.granitecreek.com or call 312-895-4500.
For more media information, contact:
Lisa Hendrickson, LCH Communications for Granite Creek
516-643-1642
lisa@lchcommunications.com
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