BGL Announces the Sale of Icelandirect to New Heritage Capital

CHICAGO, Aug. 12, 2021 /PRNewswire/ — Brown Gibbons Lang & Company (BGL), a leading independent investment bank and financial advisory firm,…

CHICAGO, Aug. 12, 2021 /PRNewswire/ — Brown Gibbons Lang & Company (BGL), a leading independent investment bank and financial advisory firm, is pleased to announce the sale of Icelandirect to New Heritage Capital. BGL’s Food & Beverage investment banking team served as the exclusive financial advisor to Icelandirect in the transaction. The transaction furthers BGL’s expertise within food ingredients and the nutraceuticals sub-sector. The specific terms of the transaction were not disclosed.  

Mark Stenberg, Co-Founder, and CEO of Icelandirect said, «I am very pleased with the outcome of this transaction.»

Icelandirect was founded by Mark Stenberg and Brandon Miller in 2010 as a bulk oil importer serving the U.S. market. Today the company is a leading contract manufacturer and value-add wholesale distributor of ingredients, offering a wide variety of marine oils, nutrients, and other liquid products for both branded human and pet consumer packaged goods. The company’s in-house global sourcing network, formulation, quality assurance, and manufacturing capabilities enable Icelandirect to offer superior customer service and capture the operational benefits of vertical integration, a key differentiator across the food and beverage landscape. Additionally, its contract manufacturing and packaging capabilities provide customers with a «one-stop-shop» solution for premium softgels and liquids, along with other bulk and packaged products.

Mark Stenberg, Co-Founder, and CEO of Icelandirect said, «I am very pleased with the outcome of this transaction. The BGL team was invaluable in advising us every step of the way and delivered a smooth and efficient closing.» Co-Founder and President Brandon Miller added, «Dan and his team identified and negotiated with the most relevant strategic and private equity buyers, running a highly tailored process which ultimately yielded the best possible partner for Icelandirect going forward. We thank them for achieving an outstanding result for us.»

BGL’s Food & Beverage team, led by  Daniel J. Gomez, has deep sector knowledge and extensive transaction experience, representing companies across the entire food and beverage landscape. Coverage includes global supply chain sourcing, processing, distribution, and wholesale and retail of both branded and private label products.

About Brown Gibbons Lang & Company

Brown Gibbons Lang & Company (BGL) is a leading independent investment bank and financial advisory firm focused on the global middle market. The firm advises private and public corporations and private equity groups on mergers and acquisitions, capital markets, financial restructurings, valuations and opinions, and other strategic matters. BGL has investment banking offices in Chicago, Cleveland, and Philadelphia, and real estate offices in Chicago, Cleveland, and San Antonio. The firm is also a founding member of Global M&A Partners, enabling BGL to service clients in more than 30 countries around the world. Securities transactions are conducted through Brown, Gibbons, Lang & Company Securities, Inc., an affiliate of Brown Gibbons Lang & Company LLC and a registered broker-dealer and member of FINRA and SIPC. For more information, please visit www.bglco.com

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SOURCE Brown Gibbons Lang & Company