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NINO PALMA, CEO - CERTI-FRESH FOODS, INC.

Certi-Fresh was founded 30 years ago in Canada. I bought the name in 1996 and incorporated in 2002, along the way acquiring Golden Bounty as well. We are a national company supplying restaurants and specialty food stores with shrimp and other fish products. We were a $5 million company in 1997, and expect sales in 2009 to reach $80 million. We grow methodically, and what we believe is the right way. Early this year, we completed a joint venture with a wet fish company called Western Fish. With that transaction, we further expanded our product line, and expect total sales of $100 million by 2010.

In our early days I financed the company myself, but found it difficult to continue to grow to meet my expectations.

 

In 2003, I had every penny in this company and decided it was time to seek outside financing via a financial partner. I was introduced to a number of potential partners. Even though Solis didn’t offer the highest valuation up front, we chose Solis because we trusted them and believed in the long run we would create even more value together.

As a management team, we connected with Solis. We were impressed with the personal approach of the Solis partners, who were very involved in the due diligence process, asking us questions directly rather than through associates or intermediaries. Solis was professional, told us what they would do if we partnered with them, and then they did it. We wanted partners who would support our business but give us the freedom to run the company. Our partnership has been exactly that.

Solis has supported us through good and challenging times. For example, several years ago we had some significant accounting issues. Solis helped us resolve the problem and recruit a new CFO. In the most recent transaction, Solis was instrumental in getting it closed.

The Solis partners keep their word. They simply do what they say. If we make mistakes, they help us make things right. We know that they are there for us and they have never let us down.

I would definitely partner with Solis on other transactions. I have invested in some of their other companies and plan to do more in the future.

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