Graycliff Partners LP is pleased to announce an investment in Graybill Processing, Inc., a food by-product recycling company based in Elizabeth, PA. Graycliff partnered with NCK Capital, a Dallas-based private equity firm, to provide subordinated debt and equity financing to the Company.

Graybill has recycled food by-products in Pennsylvania for over 20 years. The Company collects food manufacturing by-products such as packaged candy, raw candy inputs and bakery goods and processes it into quality, high-energy animal feed for hogs, dairy cattle and beef cattle.

“Graybill has carved a unique niche in the animal feed market, providing value to both its suppliers by handling challenging food by-products and waste and its customers by offering a low cost yet nutrient dense livestock feed supplement,” said Duke Punhong, Managing Director, Graycliff Partners. “We look forward to working with our partners at NCK Capital and the team at Graybill to execute the strategic initiatives we have identified and position the company for future growth.”

About Graycliff Partners LP

Graycliff Partners is an investment firm focused on lower middle market investments. Graycliff seeks to partner with companies led by strong, entrepreneurial management teams, providing capital for acquisitions, management buyouts, recapitalizations, growth and expansion. For more information about Graycliff Partners visit www.graycliffpartners.com.