TrueNorth Advises Enzyme Company BioResource International on its sale to Novus International

March 5, 2024 TrueNorth News

Stamford, CT – March, 2024: TrueNorth Capital Partners LLC is pleased to announce that its wholly-owned subsidiary, TNCP, LLC (“TrueNorth”) acted as exclusive financial advisor to BioResource International, Inc. (“BRI”) on its sale to Novus International, Inc (“NOVUS”), which is owned by Mitsui & Co., Ltd. and Nippon Soda Co., Ltd.

BioResource International

A leader in intelligent nutrition, NOVUS provides solutions for the global animal agriculture industry. The company’s portfolio includes bis-chelated organic trace minerals, enzymes, organic acids, essential oils, liquid and dry methionine, and a network of experts worldwide to provide guidance on management best practices.

The acquisition of BRI will allow NOVUS to serve its customers better and expand its innovation pipeline further. NOVUS has partnered with BRI since 2008 to manufacture its protease product, CIBENZA® Enzyme Feed Additive. Full ownership and control of the product line and the option to expand NOVUS’ portfolio beyond protease enzymes is a natural fit in NOVUS’ long-term strategic plans.

BRI’s products include Versazyme® protease feed additive, Xylamax® xylanase feed enzyme, Dymanase® mannanase enzyme, Phytamax® granulated, thermostable, microbial 6-phytase enzyme; and EnzaPro® enzyme and direct-fed microbials, among others.

Dr. Giles Shih, Co-Founder and CEO of BRI commented: “We could not have achieved this outcome without TrueNorth in our corner, as they advised and helped navigate through a dynamic process and were instrumental in bringing this partnership to fruition. Dave and his team were available at all times and provided critical guidance throughout the process. TrueNorth’s financial, deal-structuring and negotiating expertise, objective advice and unwavering commitment enabled BRI to drive to a closing with an ideal partner in NOVUS.”

David Reilly, Managing Director at TrueNorth, acted as Lead Banker on this transaction with further support by Ani Vajjah, Vice President, and Mindy Piroonhapat, Senior Analyst.

Mr. Reilly added: “It was our privilege to help BRI achieve its objectives on this transaction, which was driven by a compelling strategic rationale for both parties.”

Colby Smith led the Holland & Knight team as BRI’s primary legal advisor on the transaction.

Any further inquiries can be directed to TrueNorth at the contact information provided below:

Dave Reilly, Managing Director
Direct Dial Phone Number: (203) 817-0282
E-mail address:

About TrueNorth Capital Partners LLC:

TrueNorth provides advisory services to companies seeking advice for middle-market M&A and financing transactions. With offices in Stamford CT, Charleston SC, Central NJ, Minneapolis MN, Tokyo Japan, and London UK, TrueNorth is a boutique investment bank comprised of senior bankers providing a full complement of financial advisory services. Our focus on the middle-market enables us to provide independent, value-added advisory services to privately held middle-market companies, private equity and family office groups and corporate clients, both domestic and international, across a broad range of industries. TrueNorth conducts its securities related business through its wholly owned subsidiary, TNCP, LLC, member FINRA/SIPC.