HIG Capital LLC, a global private equity investment firm, announced that an affiliate has acquired Albertville Quality Foods and Southern Quality Meats. AQF and SQM provide specialized further processing services for protein-based products.
The companies specialize in poultry- and pork-based products, and focus on complex, quick-turnaround runs that meet the stringent specifications of their restaurant, foodservice, and retail customers. AQF’s Alabama facility focuses on outsourced third-party processing, primarily of chicken-based products. SQM’s Mississippi plant is a fully integrated pork sausage processing operation. AQF and SQM have strong manufacturing capabilities, infrastructure, and a track record of success, making them an attractive investment for HIG.
HIG teamed with senior management to consummate the transaction. “We are pleased to work with HIG to leverage their experience growing service-oriented businesses,” said Don Haynie, chief executive officer of AQF and SQM. “The recapitalization of our companies allows us to continue growing our customer base and expanding our facilities.”
Albertville AL-based AQF, and Pontotoc MS-based SQM have provided further processing services for foodservice, restaurant, and retail customers since 1962. Products such as breaded chicken tenders, boneless wings, and sausage patties are custom-produced for hundreds of customers at two facilities. Visit www.albertvillequalityfoods.com for more details.
Based in Miami FL, HIG specializes in providing capital to small- and medium-size companies with attractive growth potential. Since its founding in 1993, HIG invested in and managed more than 200 companies worldwide. The firm’s portfolio includes more than 50 companies with combined revenues in excess of $8 billion. For more information, refer to www.higcapital.com.