MRO Magazine

Inovata Foods partners with Swander Pace Capital

The investment partnership aims to accelerate Inovata's capacity expansion plans.

June 28, 2024 | By MRO Staff

Private equity firm Swander Pace Capital (SPC) has made an investment in Inovata Foods, a manufacturer of private label frozen entrées.

Founded by Steve and Lisa Parsons in 1989, Inovata manufactures a diverse range of frozen meals across two facilities in Canada and services customers in both the U.S. and Canada.

“As the demand for premium private-label meal solutions continues to grow, we see Inovata as the ideal platform to capitalize on these trends,” said Tyler Matlock, SPC’s managing director. “With extensive experience in private label and food manufacturing throughout North America, we believe we are uniquely positioned to help foster Inovata’s growth and leadership position in the industry.”

“I am confident that partnering with SPC will accelerate our capacity expansion plans, enabling us to provide even more quality products to our valued customers,” said Steve Parsons, founder of Inovata.


Headquartered in Edmonton, Inovata operates manufacturing plants in Kelowna, B.C., and Tillsonburg, Ont.

Inovata represents SPC’s 10th platform investment in Canada. Prior investments include Voortman Cookies, Recochem, Kicking Horse Coffee, Lavo, Pineridge Bakery, and Liberté. In addition to Inovata, SPC currently partners with Vancouver-based Fine Choice Foods, a manufacturer of Asian-inspired foods, selling under the Summ brand across North America; and St-Méthode Bakery, a Quebec-based bakery platform.


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