Burlington Capital Partners Announces Sale of Sokol to Solina

PR Newswire

CHICAGO, Feb. 7, 2025

CHICAGO, Feb. 7, 2025 /PRNewswire/ -- Private equity firm Burlington Capital Partners ("BCP") announced today it has sold portfolio company Sokol Custom Food Ingredients ("Sokol" or the "Company") to Solina, a leading global partner for the food industry, foodservice, QSR, and nutrition sectors headquartered in France with more than 4,000 global employees.

Based in Countryside, Illinois and founded in 1895, Sokol is a formulator and manufacturer of wet-fill, liquid food ingredient products. The Company sells to food manufacturers, CPG companies, foodservice companies, and other channels for both retail and away from home consumption.

BCP acquired Sokol in 2022 in partnership with new management team members Shawn Sullivan (CEO), Lauren Davis $(CFO.AU)$, and John Pimpo (VP of Sales & Marketing) and existing management team member Michael Novak $(COO)$. Sokol's management team will continue running the Company under Solina's ownership.

Mr. Sullivan stated, "I am grateful for BCP's tremendous support and partnership over the last two and a half years. Together we grew Sokol through a focused go-to-market strategy, strategic divestitures, and a customer-first culture. Sokol is well-positioned to continue serving our customers, employees and stakeholders, and the team and I look forward to continuing to scale the platform in our next phase of growth."

Tim Novak, Partner at BCP, commented, "Sokol is an excellent example of BCP's commitment to being strong partners and stewards of family-owned businesses. In close partnership with Sokol management, we were able to strengthen and further professionalize a business with a long history and great reputation."

Michael Baldwin, Partner at BCP, added, "This was a terrific partnership, and we are extremely thankful to Sokol's management team and employees for helping us deliver a strong outcome for our investors."

Fredrikson & Byron PA and Koley Jessen PC served as legal advisors to Sokol in the transaction. Cascadia Capital acted as financial advisor.

About Burlington Capital Partners: Burlington Capital Partners is a private equity firm that invests in founder-owned or family-owned lower middle-market businesses and partners with leading industry executives to drive growth. Please visit www.burlingtoncp.us for more information.

Inquiries: Please visit www.burlingtoncp.us or email 389892@email4pr.com

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SOURCE Burlington Capital Partners

(END) Dow Jones Newswires

February 07, 2025 08:58 ET (13:58 GMT)