Extraordinary Results
Realized Investments
Darling Delaware Company
Darling Delaware (AMEX: DAR) is a recycler of food processing by-products and is the nation's largest animal renderer. The company collects and processes animal processing by-products and used cooking oil from food service establishments to create saleable commodities such as tallow, meat and bone meat.
CIC Partners led an investment group that purchased this family-owned business at auction in 1986 for $90 million. Included in the buying group were local rendering executives, who contributed their existing plant for a significant share of the company's equity. CIC liquidated its position in 1990 in a $180 million recapitalization transaction.