New Heritage Capital (Heritage), a Boston-based private equity firm, has made a new platform investment in Icelandirect, an importer, manufacturer and packager of marine oils and other nutraceutical products.
Icelandirect has proven to be an invaluable partner for its customers, with extensive in-house formulation & packaging capabilities, a reputation for sourcing high-quality, hard-to-find ingredients from its global supplier base, and ability to meet fast turnaround times.
Heritage completed the investment through its unique Private IPO solution, which leaves operating control in the hands of the Icelandirect’s reinvesting co-founders, while providing them with the desired liquidity and financial flexibility to accelerate future growth.
“When we began the search for a partner, we were hoping to find someone who could help take our business to the next level, but not at the expense of our culture and commitment to customer success,” says Mark Stenberg, co-founder and retiring CEO of Icelandirect. “I am excited to support this next phase of Icelandirect’s growth as a member of the Company’s Board of Directors.”
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