AUA Private Equity Partners Completes Acquisition of Western Smokehouse Partners, LLC
WEST PALM BEACH, FL. – (March 27, 2023) – AUA Private Equity Partners, LLC (“AUA Private Equity”) is pleased to announce the acquisition of Western Smokehouse Partners, LLC (“Western Smokehouse” or the “Company”), formerly a portfolio company of Monogram Capital Partners. Terms of the transaction were not disclosed.
The Company represents the combination of several long established, family-owned, local businesses with a collaborative history that dates back to the 1970s. Today, Western Smokehouse is a leading contract manufacturer of better-for-you smoked meat snacks. The Company is recognized for its reputation across quality, innovation, and partnership, serving an array of blue-chip and emerging brands as well as private label retail partners. AUA Private Equity is highly aligned with management’s strategic vision and is excited to support the team’s plans for continued growth.
Andy Unanue, Managing Partner of AUA Private Equity, commented: “Our newly established partnership with Western Smokehouse is an exciting opportunity for AUA Private Equity and we are grateful to be able to partner with such a great team. Western is a growing food manufacturing business that has maintained a collaborative and entrepreneurial culture established by its founding families decades ago; this represents the core of AUA Private Equity’s investment ethos. We are eager to continue to build upon the Company’s ongoing success.”
Matt Bormann, CEO of Western, added: “This is an exciting opportunity for Western as AUA Private Equity has a demonstrated history of supporting and scaling contract manufacturing businesses in the snacking and food space broadly. Our new partnership with AUA Private Equity will enable us to accelerate growth and further develop our capabilities to better serve our customers. We are thrilled to join the AUA Private Equity family and look forward to leveraging their resources and experience to continue to build upon our success to date and carry on the legacy of the founding Western, Hankes, and Turasky families.”
“We have been highly impressed by the Western Smokehouse team and their success in building a best-in-class business while maintaining a culture rooted in its humble origins,” added Partner David Benyaminy. “AUA Private Equity has a proven history of growing co-manufacturing businesses and supporting management teams with the capital and resources necessary to execute on a shared vision of growth. We look forward to working with management in this next chapter.”
The transaction was led by Partner David Benyaminy, Vice President Brian Krouskos, Senior Associate Nicolas Pflaum, and Associate Trip Ewig. McDermott Will & Emery served as legal advisor to AUA Private Equity. Additional advisors to AUA Private Equity included Grant Thornton LLP and L.E.K. Consulting LLC. Harris Williams served as the exclusive financial advisor to the Company.
About AUA Private Equity Partners, LLC
AUA Private Equity Partners is a West Palm Beach, FL based, operationally-focused, lower middle-market investment firm providing strategic capital to companies in the consumer products and services sectors with a particular focus on family-owned businesses. AUA Private Equity typically makes equity investments of $20 to $75 million in companies that generate in excess of $5 million in EBITDA. For more information on AUA Private Equity Partners, please visit www.auaequity.com.
About Western Smokehouse Partners, LLC
Western Smokehouse Partners is a leading manufacturer of premium, better-for-you meat snacks operating out of four facilities across the Midwest. The Company is a preferred commercialization and development solution for emerging and established brands as well as large retailers, offering a wide array of co-manufactured, private label, and branded products. For more information, please visit www.wspartners.com.
David Benyaminy, Partner
Disclosure: This document should not be construed as an offer to sell or a solicitation of an offer to buy any securities or investment advisory services, and are intended for informational purposes only. Any offer will be made solely pursuant to a Private Placement Memorandum and Subscription Agreement (“Offering Documents”) to qualified offerees. This document in whole or in part will not form the basis of and should not be relied upon in connection with any investment in any fund. To the extent that statements made in this document summarize provisions of the Offering Documents, they are qualified in their entirety by the terms of such Offering Documents. A copy of the Offering Documents must be reviewed and accepted prior to making a decision to invest in any fund. An investment in any fund may result in loss to an investor. Interests in AUA’s private funds are not offered or sold in any jurisdiction in which such offer, solicitation or sale would be unlawful, until the requirements of the laws of such jurisdiction have been satisfied.