QualiTech Names Rick Pedersen Chief Executive Officer

Further Strengthens Leadership Team as Company Accelerates Growth Trajectory in Food Ingredient, Animal Nutrition and Plant Nutrition Markets

CHASKA, Minn.—January 18, 2024—QualiTech, LLC (“QualiTech” or the “Company”), a leading global manufacturer of ingredient solutions solving critical taste, appearance, texture, and functional attribute requirements, today announced that Rick Pedersen, former President of Ornua Ingredients North America, has joined the Company as Chief Executive Officer. This change is effective as of January 2024.

Mr. Pedersen brings more than 20 years of experience in the specialty ingredients industry to QualiTech, as well as a long track record of successfully catalyzing transformational growth in businesses across the food value chain. Throughout his career, he has cultivated strong expertise in sales, finance, and operations functions both domestically and internationally. His prior experience driving revenue growth at leading value-added ingredients companies, decades of proven leadership skills and strong focus on strategy and innovation will help to accelerate QualiTech’s trajectory and reinforce its position as an industry leader in the ingredients market.

“We are thrilled to welcome Rick to QualiTech,” said Steven Loeffler, Managing Director at MidOcean Partners, a middle-market private equity firm and majority owner of QualiTech. “Rick’s extensive experience in the ingredients sector, combined with his deep understanding of consumer preferences, market trends and the innovation process make him the ideal fit to propel QualiTech through its next phase of growth. Under Rick’s leadership, we believe QualiTech will be able to further leverage its robust ingredient portfolio and leading position across its core end markets to capitalize on existing opportunities and expand into adjacent products to reach both new and existing customers.”

“I am excited to join QualiTech at such a critical inflection point in the Company’s evolution,” said Mr. Pedersen. “QualiTech’s reputation for delivering innovative solutions and longstanding commitment to quality, technology, and service have established the Company as a leading ingredient supplier across the food, animal nutrition and agronomy markets. I look forward to working closely with the rest of the QualiTech leadership team as we continue to drive innovation, optimize operations, and refine our commercial strategy to support sustainable long-term growth.”

Mr. Loeffler concluded, “We are grateful for Mike Hodgens’ nearly three decades of leadership at QualiTech. During Mike’s tenure, he helped to solidify QualiTech’s leading market position, drive consistent growth across segments and lead the successful transition of the business from family to private equity ownership last summer. He has positioned QualiTech to execute on a compelling range of new opportunities, and we wish him well in his next chapter.”

Prior to his role as President of Ornua Ingredients North America, a leading processed dairy business, Mr. Pedersen was President and Chief Executive Officer of Agrana Fruit North America. Previously, he held a variety of leadership positions at Fonterra, including Chief Financial Officer and Finance Director of the Americas, where he led a range of initiatives to spur profitable growth and directed financial management and planning throughout North and South American markets. Mr. Pedersen has also previously held executive and leadership roles at major global brands including Nestle and Novartis Consumer Health. He earned a Bachelor of Science in Economics from the University of Wisconsin.

About QualiTech

Founded in 1967 and headquartered in Chaska, MN, QualiTech is a leading global manufacturer of value-added ingredient solutions with product applications that fulfill complex taste, appearance, texture and functional attribute requirements for food, animal nutrition, and agronomy customers. The Company delivers best-in-class ingredients and nutrients that promote the health and wellbeing of people, animals, and the environment to a broad range of market-leading customers in CPG, livestock, and specialty crop end-markets. The Company owns and operates two manufacturing facilities and three land parcels in Chaska, MN, with one co-manufacturing partner located in California.

About MidOcean Partners

MidOcean Partners is a premier New York-based alternative asset manager specializing in middle-market private equity and alternative credit investments. Since its inception in 2003, MidOcean Private Equity has targeted investments in high-quality middle-market companies in the consumer and business services sectors. MidOcean Credit was launched in 2009 and currently manages a series of alternative credit strategies, collateralized loan obligations (CLOs), and customized separately managed accounts.

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