FDL, a Portfolio Company of Highlander Partners, Sells FDL India Subsidiary to Vegro Solutions GMBH
Dallas, Texas – September 21, 2020 – Fuerst Day Lawson Limited (“FDL”), a portfolio company of Highlander Partners, L.P., announced today the sale of the assets of its Delhi-based Indian subsidiary, Fuerst Day Lawson (India) Private Limited, to Vegro Solutions Gmbh (“Vegro”).
The transaction supports FDL’s stated strategic objective of focusing on its existing operations and to further concentrate on expanding in its core markets and customer base in the UK/Europe, US and China, geographies where there continue to be abundant opportunities for growth.
Serving as a self-sufficient business with all activities located in India, including supply chain, manufacturing and customer management, FDL India represents an attractive add-on acquisition for Vegro to grow in southeast Asian markets that are complementary to its existing footprint. For FDL’s multinational customers with operations in India, FDL will transition sales in the region without any disruption of service. All other global locations will continue to be managed by FDL without any changes.
Eric Beatty, CEO of FDL, commented, “We believe FDL India, along with its employees, will have an excellent opportunity to thrive under a growth oriented strategic buyer, who is well versed in operating in India. We wish them the very best of success.”
Chaz Thomas, a Director with Highlander and a board member of FDL, stated, “The sale of this business is in line with FDL’s overall strategy of growing its core business and capabilities within its target markets of UK/Europe, US and China. While FDL India has developed and cultivated great relationships with some of the top food and beverage customers in India, our focus is on our core business, and we believe that FDL India is a much better fit for Vegro given its current offerings in India. We will continue to be aggressive in growing our innovative ingredient solutions and deepening our capabilities in our core markets, both organically and via M&A, going forward.”
About Highlander Partners
Highlander Partners, L.P. is a Dallas-based private investment firm with approximately $2 billion of assets under management. The firm focuses on making investments in businesses in targeted industries in which the principals of the firm have significant operating and investing experience. Highlander employs a buy and build investment approach, creating value by helping companies grow organically and through acquisitions. For more information, visit www.highlander-partners.com.
About Fuerst Day Lawson (FDL)
FDL, founded in 1884 and headquartered in London, UK, is a formulator, developer and manufacturer of proprietary taste and nutrition ingredient solutions serving the food, beverage, fragrance, and chemical industries. It offers amino acids, aroma chemicals, beverage syrups, energy and fortification solutions, flavorings and colors, juices and juice blends, preservatives and acidulants, seed blends, and sweetener systems. FDL serves a global customer base with operations in Europe, US and China. For more information about FDL, please visit www.fdlworld.com.