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Fengate Private Equity, a division of Fengate Asset Management, announced it has completed the acquisition of Saco Foods Holdings, LLC from Benford Capital Partners. Fengate is partnering with Weathervane Investment Corp. to support continued growth of the company, and is managing this investment on behalf of the LiUNA Pension Fund of Central and Eastern Canada.
This acquisition represents the first U.S. platform investment for Fengate Private Equity. The existing management team, led by CEO Tom Walzer, will continue to retain equity interest in the company. Terms of the transaction were not disclosed.
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