#USA #Evansville #Turning Rock Partners #AmeriQual Group #Harlan Bakeries

Turning Rock Partners Sells Majority Stake in AmeriQual Group Holdings

On February 23, 2026, Turning Rock Partners, also known as TRP, announced a significant move in the investment landscape by executing a majority exit from AmeriQual Group Holdings, LLC. This exit comes through a strategic growth recapitalization, allowing AmeriQual to continue its expansion and development within the food sector.

About AmeriQual

AmeriQual, headquartered in Evansville, Indiana, is a privately owned food company recognized for its excellence in developing, packaging, and distributing high-quality food products. Their offerings include shelf-stable, refrigerated, and frozen foods, sauces, and condiments. AmeriQual proudly serves a diverse customer base that includes branded food companies, government agencies, and educational institutions.

AmeriQual's majority ownership remains with the Harlan family, esteemed for their long-standing success in food-related investments.

Significance of the Exit

Turning Rock Partners' Chief Operating Officer, John Hamilton, expressed the firm's pride in being part of AmeriQual's growth story since its acquisition financing in 2021. This move facilitated the company’s strategic acquisition and investments in technology that enhanced their production capabilities, expanded their team, and diversified product offerings.

Hugh Harlan, President of Harlan Bakeries, acknowledged the vital role Turning Rock played during a pivotal period for AmeriQual. “Their partnership was instrumental in achieving our growth objectives and positioning us for an exciting future,” stated Harlan.

Future Growth and Management

The management team, headed by President Dennis Straub, has built a resilient business framework evidenced by their commitment to quality and community engagement. Sam Gilliss, a Senior Vice President at Turning Rock Partners, emphasized the exceptional expertise of AmeriQual’s management and their plans for scaling the business further.

In his statement, Dennis Straub noted that AmeriQual is dedicated to expanding its capabilities over time while remaining focused on long-term growth and automation processes. The support from Turning Rock Partners has been crucial in facilitating this ongoing investment.

Advisors and Future Outlook

Turning Rock engaged Todd Bowen of Greenberg Traurig as its advisor throughout this exit process. Carlos Gil offered his expertise as the Senior Advisor to Turning Rock during its original financing, underscoring the strategic partnerships vital to this transaction.

About Turning Rock Partners:
Founded with a focus on the lower-middle market sector in North America, TRP specializes in tailored debt, equity, and hybrid investment solutions for companies. Their work transcends conventional investment strategies, reflecting a commitment to supporting businesses across the private market landscape.

For more information on Turning Rock Partners, interested parties can visit their official website at turningrockpartners.com or contact their offices directly.

About Harlan Bakeries, LLC:
Headquartered in Avon, Indiana, Harlan Bakeries is a family-owned enterprise celebrating its 30th anniversary in business. As a leader in the bakery industry, they focus on producing high-quality fresh and frozen products, which are distributed to major retail and grocery chains across North America.

In conclusion, this exit marks a new chapter for both Turning Rock and AmeriQual, poised for further growth and innovation as they navigate the changing landscape within the food sector.