Baird's Investment Banking Group is pleased to announce the following transaction:

May 2021
Custom Made Meals LLC
Sale to Stellex Capital Management LLC
Baird served as the exclusive financial advisor to Custom Made Meals LLC on this transaction

Custom Made Meals LLC (“Custom Made Meals” or the “Company”), a portfolio company of New Water Capital L.P. (“New Water”), was recently acquired by Stellex Capital Management LLC (“Stellex”). Terms of the transaction were not disclosed.

Custom Made Meals is a leading manufacturer of fresh, oven-ready, value-added entrees and appetizers. The Company’s products are sold in service case and retail-ready packaging across both branded and private label to large blue-chip grocery, club and mass retailers across the United States. For three consecutive years, Custom Made Meals has been recognized by The Denver Post as one of Denver’s top workplaces. The Company is headquartered in Denver, Colorado.

New Water Capital L.P. is a private equity firm focused on lower-middle market companies in the consumer products and industrial manufacturing and services sectors with revenues of $30 million to $300 million. New Water Capital's collaborative transaction and operating model is built specifically to support companies in transition, building on their unique cultures and strengths.

Stellex is a private equity firm with over $2.6 billion in AUM. Stellex seeks to identify and deploy capital in opportunities that have the potential to provide stability, improvement, and growth. Portfolio companies benefit from Stellex’s industry knowledge, operating capabilities, network of senior executives, strategic insight, and access to capital. Stellex has offices in New York, New York, Detroit, Michigan and London, the United Kingdom.

For additional information about this transaction, please contact:

Glen Clarke +1-312-609-4481
Brian McDonagh +1-704-553-6611
Jeff Seaman +1-312-609-4687
Robert Foster +44-20-7667-8309