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Private Equity
FINANCE | Investment Firms & Funds
palladiumequity.com

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Investments

21

Portfolio Exits

15

Funds

5

Service Providers

1

About Palladium Equity Partners

Palladium is a middle market private equity firm with over $3 billion of assets under management focused primarily on buyout investments. Palladium seeks to acquire and grow companies in partnership with founders and experienced management teams, with a special focus on companies it believes will benefit from the growth in the U.S. Hispanic population. Palladium principals have been actively involved in the investment of $1.5 billion of capital in more than 50 portfolio companies since 1989 and have significant experience in financial services, business services, food, healthcare, industrial, and media businesses.

Palladium Equity Partners Headquarter Location

1270 Avenue of the Americas 31st Floor

New York, New York, 10020,

United States

212-218-5150

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Latest Palladium Equity Partners News

Palladium Equity Partners Completes Sale of Second Nature Brands

Apr 26, 2022

News provided by Share this article Share this article NEW YORK and MADISON HEIGHTS, Mich., April 26, 2022 /PRNewswire/ -- Palladium Equity Partners, LLC (along with its affiliates, "Palladium"), a Certified B Corp and the oldest minority-owned private equity firm with over $3 billion in assets under management today, announced that affiliates of the firm have completed the sale of Second Nature Brands (the "Company"), a Detroit-based platform of snacks and treats brands, to funds managed by CapVest Partners LLP ("CapVest"). Second Nature Brands is a platform of best-selling snacks and treats brands: Kar's Nuts®, Second Nature Snacks®, and Sanders Chocolates®. These iconic Detroit-native snack food brands, with a combined 230-year heritage, today comprise a company that is a leader in the fast-growing snacks and treats markets, focused on the nutritional and lifestyle needs of health-conscious consumers. Kar's Nuts is the #1 branded trail mix delivering better-for-you, on-the-go fueling snacks; Second Nature Snacks is a pioneer in natural, non-GMO-verified premium snacks and trail mixes created for a healthy, on-the-go lifestyle; and Sanders Chocolates is a leader in premium, small-batch, kettle-cooked sea salt caramels. Palladium, which focuses on transforming family and founder-owned businesses, partnered in 2017 with Nick Nicolay, whose family had owned Kar's Nuts for over 50 years. Under Palladium's ownership, Kar's Nuts has grown from a regionally-focused provider of trail mix into a nationwide snacks and treats platform with category-leading positions under the Second Nature Brands banner. The Company recruited a world-class team led by Vic Mehren, built an in-house innovation engine, invested in expanding capacity, and acquired Sanders Chocolates, entering into the fast-growing premium confections category. Today, Second Nature Brands is seeking to continue its accelerated growth while carrying on the legacy of the brands' founders and family traditions. "Palladium has been an excellent partner to Second Nature Brands, and was instrumental in driving our exciting growth over the past five years. Palladium has been a steward for the business, helping to support our growth while always ensuring that the Company maintains the heritage, culture, and family traditions that have made our brands special," said Nick Nicolay, former Chief Executive Officer and current Chairman Emeritus. Vic Mehren, Chief Executive Officer, added, "As we look forward to partnering with CapVest in our next phase of growth, we thank the Palladium team for their extraordinary partnership. With their support, and through the efforts of our great Second Nature Brands team members, Second Nature Brands has transformed into a leader within Snacks and Treats." Alex Funk, Principal at Palladium, said, "We are very proud of the results that have been achieved at Second Nature Brands. Nick Nicolay, Vic Mehren, and the entire team have been outstanding partners throughout our ownership, and have grown the business into a true leader that we believe is well positioned for its next chapter of growth." Piper Sandler & Co. served as financial advisor to Second Nature Brands on the transaction. Greenberg Traurig, P.A. served as the Company's legal advisor. Deloitte Corporate Finance served as advisor to the Board of Directors of Second Nature Brands. The transaction terms were not disclosed. About Second Nature Brands Second Nature Brands is a leading creator of snacks and treats that make lives better, naturally. By investing in new product development, thoughtful ingredient sourcing, and innovative business processes, Second Nature Brands is reimagining premium and better-for-you snacks and treats. Under its growing family of brands, Kar's Nuts®, Second Nature Snacks®, and Sanders Chocolates ®, Second Nature Brands has an extensive distribution network across the United States and a growing direct-to-consumer eCommerce presence. Currently, Kar's Nuts® and Second Nature Snacks® are two of the best-selling trail mix brands in the nation, including the #1 selling Kar's Sweet 'n Salty Mix. Sanders Chocolates is one of the largest kettle-cooked, small-batch crafters of sea salt caramel treats in the U.S.  Find out more at Second Nature Brands ( www.secondnaturebrandsus.com ), Kar's Nuts ( www.karsnuts.com ), Second Nature Snacks ( www.secondnaturesnacks.com ), and Sanders Chocolates ( www.sanderscandy.com ). About Palladium Equity Partners, LLC Palladium is the oldest minority-owned private equity buyout firm in the industry with over $3 billion of assets under management. The firm seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital, strategic guidance and operational oversight. Since its founding in 1997, Palladium has invested over $3 billion of capital in 38 platform investments and 149 add-on acquisitions, realizing 23 of these platform investments. The principals of the firm have meaningful experience in consumer, services, industrials, and healthcare businesses, with a special focus on companies they believe will benefit from the growth in the U.S. Hispanic population. Palladium, which is a Certified B Corp, is based in New York City. For more information, visit www.palladiumequity.com . Media Contacts

Palladium Equity Partners Investments

21 Investments

Palladium Equity Partners has made 21 investments. Their latest investment was in Envoy Global as part of their Unattributed VC on September 9, 2021.

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Palladium Equity Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/21/2021

Unattributed VC

Envoy Global

Yes

2

12/20/2018

Private Equity

Quirch Foods

Yes

2

7/10/2018

Private Equity

Spice World

Yes

1

4/5/2017

Private Equity

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10

1/10/2017

Private Equity

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10

Date

9/21/2021

12/20/2018

7/10/2018

4/5/2017

1/10/2017

Round

Unattributed VC

Private Equity

Private Equity

Private Equity

Private Equity

Company

Envoy Global

Quirch Foods

Spice World

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Amount

New?

Yes

Yes

Yes

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Co-Investors

Sources

2

2

1

10

10

Palladium Equity Partners Portfolio Exits

15 Portfolio Exits

Palladium Equity Partners has 15 portfolio exits. Their latest portfolio exit was DolEx Dollar Express on January 27, 2020.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

1/27/2020

Management Buyout

Management Buyout (MBO)

1

12/17/2019

Acquired

1

4/3/2019

Acquired

1

5/10/2018

Acquired

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10

4/10/2018

Acq - Fin - II

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10

Date

1/27/2020

12/17/2019

4/3/2019

5/10/2018

4/10/2018

Exit

Management Buyout

Acquired

Acquired

Acquired

Acq - Fin - II

Companies

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Valuation

Acquirer

Management Buyout (MBO)

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Sources

1

1

1

10

10

Palladium Equity Partners Acquisitions

30 Acquisitions

Palladium Equity Partners acquired 30 companies. Their latest acquisition was Health Connect America on August 10, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

8/10/2021

$99M

Acq - Fin

1

9/22/2020

$99M

Acq - Fin - II

3

3/2/2020

$99M

Acq - Fin

1

1/22/2020

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$99M

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10

10/11/2018

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$99M

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10

Date

8/10/2021

9/22/2020

3/2/2020

1/22/2020

10/11/2018

Investment Stage

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

Note

Acq - Fin

Acq - Fin - II

Acq - Fin

Subscribe to see more

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Sources

1

3

1

10

10

Palladium Equity Partners Fund History

5 Fund Histories

Palladium Equity Partners has 5 funds, including Palladium Equity Partners V.

Closing Date

Fund

Fund Type

Status

Amount

Sources

7/12/2019

Palladium Equity Partners V

Buyouts & Acquisitions

Closed

$1,560M

5

6/6/2014

PEP Fluid Co-Invest LP

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$99M

10

4/21/2014

Palladium Equity Partners IV

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$99M

10

6/10/2008

Palladium Equity Partners III LP

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$99M

10

4/27/2000

Palladium Equity Partners II LP

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$99M

10

Closing Date

7/12/2019

6/6/2014

4/21/2014

6/10/2008

4/27/2000

Fund

Palladium Equity Partners V

PEP Fluid Co-Invest LP

Palladium Equity Partners IV

Palladium Equity Partners III LP

Palladium Equity Partners II LP

Fund Type

Buyouts & Acquisitions

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Status

Closed

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Amount

$1,560M

$99M

$99M

$99M

$99M

Sources

5

10

10

10

10

Palladium Equity Partners Service Providers

1 Service Provider

Palladium Equity Partners has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Acq - Fin - II

Investment Bank

Financial Advisor

Service Provider

Associated Rounds

Acq - Fin - II

Provider Type

Investment Bank

Service Type

Financial Advisor

Partnership data by VentureSource

Palladium Equity Partners Team

7 Team Members

Palladium Equity Partners has 7 team members, including former Controller, Tom Mastrobuoni.

Name

Work History

Title

Status

Tom Mastrobuoni

Tyson Ventures, RedBird Capital Partners, Augusta Columbia Capital, and NN Investment Partners

Controller

Former

Pierson M Grieve

Managing Director

Former

Peter Joseph

Managing Director

Former

Bob Lanigan

Managing Director

Former

Gary D. Nusbaum

Managing Director

Former

Name

Tom Mastrobuoni

Pierson M Grieve

Peter Joseph

Bob Lanigan

Gary D. Nusbaum

Work History

Tyson Ventures, RedBird Capital Partners, Augusta Columbia Capital, and NN Investment Partners

Title

Controller

Managing Director

Managing Director

Managing Director

Managing Director

Status

Former

Former

Former

Former

Former

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