New Water Capital - Custom Made Meals - Top Work Place - FINAL

New Water Capital Portfolio Company CMM Among Top Colorado Employers

Boca Raton-based private equity investment firm New Water Capital Partners L.P. is proud to congratulate its portfolio company Custom Made Meals on its recognition as one of The Denver Post’s 2019 Top Workplaces in the state of Colorado.

The Post ranked Custom Made Meals, a leading manufacturer of fresh, oven-ready, value-added entrees and appetizers, second among 73 mid-sized companies nominated as best workplaces for Colorado employees. Among CMM’s winning qualities, the Post report cited the company’s unique array of benefits and performance incentives, its commitment to building a core workforce of full-time employees, and feedback from workers that conveys a sense of belonging amid a culture that allows them to perform to the best of their abilities.

CMM is one of 11 companies to have joined New Water Capital’s family of portfolio companies since the fund’s launch in 2015, the first of three in the food manufacturing space. A New Water Capital affiliate acquired CMM and Custom Corned Beef Inc. in a deal announced in March 2017, later adding Rockwell, Texas-based manufacturer of frozen appetizers Pegasus Foods in March 2018, and Glendale, California-based frozen food innovator The Perfect Bite in October 2018.

“We are proud to congratulate Custom Made Meals employees and their outstanding leadership team on this tremendous honor,” said New Water Capital partner Jason Neimark. “A strong team-based culture and a focus on the employees ultimately drives success. This important state-wide honor affirms the benefits of New Water’s management philosophy for all our stakeholders, including the dedicated employees who are essential to CMM’s success.”

As an example of how New Water’s family of companies work together, CMM rewards its top-performing employees with a brand-new kayak, produced by New Water portfolio company Hemisphere Design Works, as well as with more conventional incentives such as cash bonuses or concert tickets.

Hemisphere Design Works was formed in a 2017 merger between New Water portfolio companies KL Outdoor, maker of Sun Dolphin kayaks and other branded outdoor sports/lifestyle products, and Montreal-based GSC Technologies, maker of Future Beach kayaks as well as branded storage and outdoor furniture products, to create the world’s largest kayak-maker.

Custom Made Meals manufactures fresh, ready-to-cook entrées that are sold by Safeway, Kroger, Publix, Target and other supermarkets. The company’s products are sold in more than 10,000 stores in 43 states across the nation.

The Post also commended CMM for its policy of moving temporary employees into full-time staff positions after 90 days and for its efforts to expand health insurance coverage and paid vacation benefits. The Post’s Top Workplace rankings were based on employee responses to a 24-question survey. “As much as we work to ensure our handmade, ready-to-prepare meals meet the standards of our buyers and the families who ultimately enjoy them, we recognize it all starts with our employees’ dedication to producing a fantastic product,” said Custom Made Meals CEO Dale Easdon.

About New Water Capital, L.P.

New Water Capital, L.P. is a private equity firm focused on lower-middle market companies in transition, in the consumer, retail and industrial manufacturing and services sectors, with revenues of $30 million to $300 million. New Water Capital’s collaborative transaction and operating model is built specifically to support companies in transition. For more information, please visit www.newwatercap.com.