The Halifax Group Partners with Management to Recapitalize Nutrition Physiology Corporation
Dallas, TX - September 16, 2008 - The Halifax Group, L.L.C. ("Halifax") announced today a new partnership with the management of Nutrition Physiology Corporation ("NPC"), a leading marketer and supplier of direct-fed-microbial feed additives to feedlots and dairies. NPC's patented, Bovamine products are fed to more than four million beef cattle and 400,000 dairy cows annually.
Co-founders Dr. Douglas Ware and Mr. Michael Ray will retain a significant ownership stake in the Company, and will continue to be a critical part of the senior management team and serve on the Board of Directors following the transaction. Halifax provided the equity necessary to complete the transaction. Other transaction terms were not disclosed.
"Since our founding in 1993, we have enjoyed tremendous success, achieving 14 years of consecutive strong growth," said Dr. Ware. "Our dedication to sound science and thorough research and development has led directly to our industry leadership. Our partnership with Halifax will enable us to scale up and take advantage of numerous growth opportunities available in the market."
"We are extremely proud of the service we provide to our customers and we look forward to continuing our work with them," added Mr. Ray. "Halifax's broad resources and its expertise in professionalizing and growing entrepreneurial businesses will help us accelerate our growth in the coming years, especially as we expand the food safety applications for our products."
"Dr. Ware, Mr. Ray and their partners have built an impressive enterprise over the past 14 years," commented Brent Williams, managing director, Halifax. "NPC's products are natural, organic solutions to fundamental problems in our national food supply chain. This is a perfect fit with Halifax's focus on the wellness sector and entrepreneurial companies. We look forward to partnering with Dr. Ware and Mr. Ray and implementing NPC's exciting plan for continued growth."
About Nutrition Physiology Corporation
NPC is a microbial technology company specializing in products for ruminant livestock nutrition and food safety. NPC has a strong commitment to the research and development of its family of products. NPC provides customers with consistency in research, state-of-the-art application systems, and knowledgeable technicians devoted to superior service. NPC is based in Guymon, Oklahoma. For more information, please visit www.bovamine.com.
About The Halifax Group
The Halifax Group is a private equity firm that specializes in partnering with managers and entrepreneurs to recapitalize and grow lower middle-market businesses across a variety of industries including healthcare, wellness, infrastructure and business services. The firm maintains offices in Washington, DC; Dallas, TX; and Raleigh, NC. For more information, please visit www.thehalifaxgroup.com.
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