Seviroli Foods

Case Study

Supporting Mill Point Capital’s acquisition of Seviroli Foods

Seviroli Foods, Inc is a second-generation family-owned frozen pasta manufacturer and specialty Italian imports business founded in 1960 as a small pastry shop in Queens, New York.

At a Glance

PGIM Private Capital's one-stop financing solution supports Mill Point’s acquisition of Seviroli Foods

As demand grew over the last several years for Seviroli’s authentic Italian products, the Company has expanded its presence, serving customers nationally and expanding to an additional facility in Hauppauge, NY.

Mill Point Capital LLC (“Mill Point” or the “Sponsor”), a New York City-based middle-market private equity firm, approached us in July 2022 to support its acquisition of Seviroli Foods, in partnership with management.

Relationship since 2022

Transaction details:

Revolver
Senior Term Loan
Senior Subordinated Notes

“Throughout its history, Seviroli has continually distinguished itself as a leader in its sector. We are committed to maintaining the core values that the Seviroli family and team have created and look forward to pursuing numerous growth avenues ahead.”

Dustin Smith Partner, Mill Point Capital LLC

<p>“Throughout its history, Seviroli has continually distinguished itself as a leader in its sector. We are committed to maintaining the core values that the Seviroli family and team have created and look forward to pursuing numerous growth avenues ahead.”</p>

The Full Story

Supporting Growth and Innovation in the Food & Beverage Industry

Seviroli Foods, Inc. (“Seviroli Foods” or the “Company”) is a second-generation family-owned frozen pasta manufacturer and specialty Italian imports business founded in 1960 as a small pastry shop in Queens, New York. As demand grew over the last several years for their authentic Italian products, the Company expanded its presence, serving customers nationally and expanding to an additional facility in Hauppauge, NY.

Mill Point Capital LLC (“Mill Point” or the “Sponsor”) is a New York City-based middle-market private equity firm focused on investments in industrial, business services, and IT services businesses. We’ve worked with Mill Point on several previous transactions, and given our historical relationship, Mill Point approached PGIM in July 2022 to support its acquisition of Seviroli, in partnership with management.

Mill Point was seeking a long-term, relationship-oriented financial partner with experience working with family-owned businesses that was able to provide additional capacity to invest in both the core business and future growth opportunities. Additionally, Mill Point decided to work with us given our:

Creative and flexible structuring capabilities
Large hold sizes
Certainty and speed of execution

In December 2022, we completed a one-stop financing solution to support Mill Point’s acquisition of Seviroli Foods. We are pleased to have been a part of this process and look forward to supporting Seviroli’s track record of growth and innovation.