MidOcean Partners acquire Agilex Flavors & Fragrances from Nautic Partners

US-based private equity firm MidOcean Partners has acquired a majority stake in middle market creator and manufacturer of fragrances Agilex Flavors & Fragrances, owned by Nautic Partners, a Providence-based middle market private firm.

Agilex, headquartered in New Jersey, is a manufacturer of fragrance compounds and delivery systems, primarily available to manufacturers of air care, personal care, industrial and institutional and household products.

The firm has its facilities in Georgia, New Jersey, and China, along with a Creative Center for Excellence in Piscataway, New Jersey, and fragrance laboratory located in Hong Kong.

As part of the acquisition, Agilex’s current management team is investing alongside MidOcean.

MidOcean managing director Rob Sharp said for the past few years the firm, which has been looking for better opportunities in the value-added fragrance and flavours space, found Agilex’s leading position in a fragmented middle market as a provider of critical fragrance inputs for customers compelling.

"We are very impressed with the entire Agilex management team, all of whom are investing alongside MidOcean as part of this transaction. We look forward to partnering with this team to grow the business organically and through significant acquisitions," Sharp added.

The new transaction was guided by international commercial law firm Kirkland & Ellis as legal counsel for MidOcean Partners, while Fidus Partners served as financial advisor to Agilex, and Edwards Wildman Palmer acted as legal counsel for the company.