NEW YORK: Turnspire Capital Partners LLC announced Monday that an affiliate has acquired LifeLine Foods LLC and ICM Biofuels LLC and will combine them under a new entity, The LifeLine Group.
The food business will continue to operate as LifeLine Foods, while the biofuels operation will be rebranded as LifeLine Biofuels. Turnspire’s partner in the formation of the new group is AgraMarke Quality Grains, Inc., a Missouri cooperative of corn farmers that originally founded LifeLine in 2001.
Headquartered in St. Joseph, LifeLine’s food business is a manufacturer of corn-based products, including cornstarch and masa, for customers in the food and beverage and building products markets. The newly named LifeLine Biofuels will use a starch stream from the food division to produce renewable fuels, creating operational synergies and a lower carbon footprint.
Turnspire also announced the appointment of Jeremy Bezdek as president and CEO of The LifeLine Group. Bezdek spent over 26 years at Koch Industries, where he led the growth of its Flint Hills Resources biofuels business.
“We are thrilled to unify the LifeLine platform under a shared vision for growth,” said Turnspire Partner Abel S. Osorio in a statement. “LifeLine operates at the intersection of food and renewable energy, where we see meaningful opportunities to enhance performance, expand capabilities, and build long-term value.”
Chuck Bebermeyer, president of AgraMarke, expressed confidence that the partnership with Turnspire would continue to strengthen LifeLine’s legacy.
The terms of the transaction were not disclosed. Chemlink Partners served as financial advisor and Freshfields LLP served as legal counsel to Turnspire. Portage Point Partners advised LifeLine Foods and ICM Biofuels.
The LifeLine Group is a leading U.S. manufacturer of corn-based products for the food and beverage, biofuels, and building products industries. Its two divisions, LifeLine Foods and LifeLine Biofuels, form an integrated platform focused on quality, innovation, and sustainability.
Turnspire Capital Partners invests in businesses at strategic or operational inflection points, focusing on value creation through operational improvements rather than financial leverage.
AgraMarke Quality Grains is a Missouri cooperative of over 600 farmers who deliver corn to The LifeLine Group for processing into food ingredients, ethanol, and related coproducts.