Paine Schwartz sells Lyons Magnus to Truelink Capital

Paine Schwartz Partners has sold Lyons Magnus to Truelink Capital, PE Hub reported. No financial terms were disclosed, leaving the transaction without a public valuation, purchase multiple or financing details.

Lyons Magnus is based in Fresno, California, and manufactures ingredients, beverages and healthcare nutrition products for the foodservice sector, according to PE Hub. The company operates manufacturing facilities across the US.

PE Hub reported that Lyons Magnus supplies major coffeehouse and quick-service restaurant chains in North America, as well as healthcare end markets. The business is led by chief executive Jim Davis and was founded in 1852.

The transaction moves Lyons Magnus from Paine Schwartz Partners to Truelink Capital. In a sponsor-to-sponsor sale, ownership of a portfolio company is transferred from one investment owner to another, typically with the buyer assuming control of the company’s equity and the seller exiting or reducing its position. PE Hub did not report whether any existing management stake, debt package or reinvestment arrangement formed part of the deal.

The absence of disclosed terms limits outside assessment of the deal’s financial profile. Without a price or earnings measure, investors cannot calculate an implied valuation multiple or compare the transaction directly with other foodservice ingredients and beverage manufacturing deals.

Lyons Magnus sits at the intersection of foodservice supply, beverage production and healthcare nutrition, areas tied to institutional purchasing and chain restaurant demand. PE Hub’s report did not include comments from Paine Schwartz Partners, Truelink Capital or Lyons Magnus on the strategic rationale for the sale.

This story draws on original reporting from PE Hub.