New Heritage Capital Invests in Icelandirect

Icelandirect Acquires SOMA LABS to Expand Human and Pet Supplement Dosage Form Manufacturing Capabilities

March 20, 2026

Manufacturing

Icelandirect, a U.S.-based contract manufacturer and portfolio company of New Heritage Capital, acquired SOMA LABS, a New Jersey supplement manufacturer specializing in solid dosage form production. The transaction closed in February 2026 and expands Icelandirect’s capabilities to include powders, capsules, tablets, and chewables for both human nutrition and pet supplement brands.

New Heritage Capital Makes Majority Investment in Brilliant

September 19, 2024

Marketing & Advertising

New Heritage Capital has made a majority investment in Brilliant, a San Francisco–based provider of corporate gifting and branded merchandise, using its Private IPO structure to provide liquidity and growth capital while leaving operating control with Brilliant's management. Terms were not disclosed; the capital will be used to accelerate Brilliant's growth and scale its technology-enabled gifting and global fulfillment capabilities.

New Heritage Capital Invests in Stratus Technology Services

March 8, 2023

IT Services

New Heritage Capital has made a growth investment in Stratus Technology Services through its Private IPO structure, allowing Stratus management to retain operating control while gaining capital to accelerate growth. The investment will support Stratus's expansion of delivery teams and capabilities—particularly cloud implementations and migrations—across its global technology services footprint, which includes strong expertise serving the P&C insurance market and Guidewire platform users.

Investcorp, China Resources and Fung Strategic Invest in Heritage Foods

June 30, 2021

Food & Beverage

Investcorp, in partnership with China Resources and Fung Strategic Holdings, announced an investment in Heritage Foods through its Asia Food Growth Fund I to support Heritage Foods as a buy-and-build platform for condiments and sauces across Asia. Heritage Foods is headquartered in Hong Kong, operates regional offices and manufacturing in Japan, Singapore and Malaysia, employs over 300 people, and owns historic brands such as Hamada Shoyu, Bidor Kwong Heng and Woh Hup Food. The investment is intended to back Heritage Foods’ bolt-on acquisition strategy and international expansion into retail and foodservice channels.

New Heritage Capital Invests in FMS Solutions

February 18, 2021

Cloud & SaaS

Boston-based private equity firm New Heritage Capital made a platform investment in FMS Solutions, a SaaS-based BPO provider serving independent grocers, using Heritage's Private IPO structure that lets FMS management retain operating control. The capital provides liquidity to founders and financial flexibility to accelerate growth of FMS' accounting, payroll and retail-oriented software and services.

New Heritage Capital Invests in Welcome Dairy

June 23, 2019

Food & Beverage

New Heritage Capital completed a minority recapitalization investment in Wisconsin-based Welcome Dairy Holdings, LLC, providing founders liquidity while leaving operating control with the reinvesting management team. Five Points Capital provided last-out unitranche term debt to support the transaction, which is intended to accelerate Welcome Dairy's growth by leveraging its R&D and manufacturing capabilities in dairy flavorings, cheese sauces, seasonings and functional cheese.