Alantra advises the shareholders of UST LLC, a U.S.-based contract manufacturer of VMS products, on its sale to Somafina

Feb 2024

Sell-side advisory

Boston / New York City – Alantra has advised the shareholders of UST, LLC (“UST”) on its sale to Somafina, a portfolio company of Heartwood Partners. UST is a leading contract manufacturer of Vitamins, Minerals, and Supplements (“VMS”) owned by founder Brent Roth and California-based private equity group Tregaron Capital.

Headquartered in Utah, the epicenter of VMS activities in the U.S., UST offers capsules, powders, and tablets catering to a wide array of customers and product end-benefits. UST distinguishes itself within the VMS contract manufacturing market through its superior formulation capabilities, industry-best lead times, and exceptional quality standards. With an ISO-certified in-house testing lab, UST is dedicated to the science-based production of the latest supplement types and formats.

The Alantra team conducted a highly competitive process that yielded strong interest from a mix of strategic buyers, sponsor-backed strategics, and private equity groups. Somafina, a Georgia-based contract manufacturer of VMS products, emerged as the ideal new owner for the company given their commitment to inorganic growth in the fragmented VMS contract manufacturing sector. The acquisition aligns with their investment strategy and will enhance customer diversification, increase production capacity, and provide an expanded national footprint with backup capacity to assist in risk-mitigation.

UST Founder and CEO Brent Roth said: “I’m very pleased that we’re partnering with the Somafina and Heartwood teams to drive the next phase of growth for the business. And the Alantra team did an excellent job creating a competitive process that enabled the shareholders to choose the best buyer for UST, balancing both the near-term deal dynamics and the long-term future of the business.”

Josh Garver, Managing Director at Alantra, added: “We’re pleased to have supported the UST shareholders and team in this important transaction, which creates a leading platform in the VMS contract-manufacturing space offering a broad array of dose forms. This deal is another important credential for Alantra in the VMS sector, where we’ve successfully advised on more than ten sell- and buy-side transactions across the U.S., Europe, and Asia in recent years.”