GenNx360 Capital Partners Announces Majority Investment in Whitsons Culinary Group
Portfolio Company News - September 08, 2021
New York, New York: GenNx360 Capital Partners ("GenNx360"), a New York City-based private equity firm investing in middle market business-to-business industrial and business services companies, in partnership with the management team of Whitsons Culinary Group ("Whitsons" or the "Company"), is pleased to announce a majority investment in Whitsons.
Headquartered in Islandia, NY, Whitsons is a provider of dining services to consumers and public and private organizations throughout the Northeast. Whitsons has a long and proud history of serving local communities and setting new standards for the foodservice industry with wholesome foods and family values. Whitsons leads the industry with its customized services, innovative programs, commitment to quality, focus on nutrition, local sourcing and community support. Its services include school nutrition, residential and healthcare dining, prepared meals and emergency dining. Paul Whitcomb and Beth Bunster will continue to lead the Company as the CEO and CFO, respectively. Other members of the Whitcomb family will also remain active in the business. Whitsons was represented by JMP Securities LLC who served as Whitsons' exclusive financial advisor and Burns & Levinson LLP who served as Whitsons' legal counsel.
Paul Whitcomb, CEO of Whitsons stated, "We are excited to partner with GenNx360, whose deep operational expertise and track record of building platforms will be a tremendous asset to us as we drive our next phase of rapid growth. GenNx360's investment in Whitsons will enable us to focus on driving our mission of Enhancing Life One Meal at a Time™. We will continue to build our team and our services and expand our reach to serve more communities wholesome and delicious meals. There will be no changes to our day-to-day management and operations, and the Whitcomb family will remain actively involved in the business."
Daphne Dufresne, GenNx360 Managing Partner said, "Whitsons is led by an impressive management team who has built an industry-leading platform. We look forward to supporting Paul, Beth and the rest of the team in executing upon their growth strategy."
Rishi Verma, GenNx360 Principal said, "The transaction reflects the strength and resilience of Whitsons' business model and is a testament of our ability to partner with family-owned companies."
About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on acquiring middle market business services and industrial companies. GenNx360 invests in companies with proven and sustainable business models in expanding industries, with the objective of implementing value-enhancing operational improvements to accelerate growth, deliver efficiencies and generate strong financial returns. Target industries include industrial machinery and components, business & industrial services, automation & industrial technology, packaging products, equipment services, environmental services, and food ingredients/equipment/services. GenNx360 was founded in 2006 and is headquartered in New York City. For more information on GenNx360 Capital Partners, please visit www.gennx360.com.
About Whitsons Culinary Group
Whitsons Culinary Group provides a wide range of highly customized dining services to public schools, healthcare dining and emergency services throughout the Northeast, with a strong focus on nutritious, high quality meals made from wholesome, fresh ingredients. Whitsons has a long and proud history of excellence and growth since 1979 and is setting new standards for the foodservice industry with wholesome foods and family values. For more information, visit www.whitsons.com.
For media inquiries about this press release, please contact:
GenNx360 Capital Partners
Carmen Rojas, Director of Investor Relations