Transom Capital Group has confirmed the sale of Uncle Milton Industries to KCB Management.
The sale of the science and nature-based specialist represents Transom Capital’s second successful exit within the last 12 months.
Terms of the transaction were not disclosed.
"Uncle Milton has been a tremendous success story for Transom Capital and we’re happy to see it in the hands of its new owner, KCB Management, who will shepherd it through its next stage of growth with the current management team," said Ken Firtel, MD of Transom Capital.
"Uncle Milton is special to us; there was plenty of blood, sweat and tears that the Transom Capital team poured into making this investment a success. Above all, we’re excited to see the many successes that the company will achieve in coming years."
Frank Adler, president of Uncle Milton, added: "The strides that Uncle Milton has made under Transom Capital’s ownership cannot be understated. Without a doubt, Transom Capital has been a key strategic sounding board to Uncle Milton’s management team.
"The Transom Capital team helped us think through a wide variety of complex issues affecting the business and always maintained confidence in our ability to execute. I’m grateful for Transom Capital’s support during the past couple of years and look forward to working with our new owners."
Russ Roenick, MD of Transom Capital, continued: "Uncle Milton is a textbook example of Transom Capital’s proprietary ARMOR value creation process at work.
"When we acquired the company in 2010, it was facing significant financial and operational headwinds. We took the Transom Capital playbook and, hand in hand with Uncle Milton’s senior management, eliminated every roadblock that stood between the company and success. Given where we are today, I could not be happier with the outcome."