Tag Archives: Agri & Food

Novacap Announces Successful Exit from Smyth Companies, LLC

Novacap

Novacap, a leading North American private equity firm, is pleased to announce the successful exit of its investment in Smyth Companies, LLC (“Smyth”), a premier provider of innovative and sustainable labeling solutions for consumer products. Smyth has been acquired by Crestview, a private equity firm focused on the middle market, further positioning the company for continued success and growth. This marks a significant milestone for Novacap and reinforces its commitment to fostering growth and operational excellence within its portfolio companies.

Since Novacap’s initial investment, Smyth has expanded its market position as a trusted partner to leading global consumer packaged goods (CPG) brands. Under Novacap’s ownership, the company has implemented key strategic initiatives, invested in state-of-the-art equipment, and successfully implemented its “One Smyth” operational philosophy. These efforts have positioned Smyth as a national leader in prime label solutions, with a well-invested manufacturing footprint and a diversified customer base.

“Our partnership with Smyth exemplifies Novacap’s ability to drive long-term value creation through operational improvements and strategic initiatives,” said Domenic Mancini, Senior Partner at Novacap. “We are incredibly proud of the progress achieved by the Smyth team and confident that the company is well-positioned for continued success in the evolving labeling and packaging industry.”

“Novacap’s strategic guidance and investment have been instrumental in accelerating our growth and enhancing our ability to serve our customers with cutting-edge labeling solutions,” said Scott Fisher, President of Smyth Companies. “We are grateful for their support and look forward to continuing our journey as an industry leader.”

The successful exit of Smyth underscores Novacap’s expertise in identifying and nurturing companies within the industrial and packaging sectors, leveraging sector knowledge to drive sustainable and scalable growth.

Baird served as financial advisor while Blake, Cassels & Graydon LLP and Fox Rothschild LLP provided legal counsel to Novacap. Evercore served as financial advisor while Gibson, Dunn & Crutcher LLP provided legal counsel to Crestview Partners.

About Novacap
Novacap is a leading North American private equity investor and one of Canada’s most experienced private equity firms. Founded in 1981 to partner with visionary entrepreneurs, Novacap focuses on middle market companies in four core sectors: Technologies, Industries, Financial Services, and Digital Infrastructure. Novacap combines deep sector-specific expertise with strategic and operational excellence to support entrepreneurs and management teams. Since its inception, the firm has made primary and add-on investments in more than 250 companies. With over C$11 billion in assets under management and a presence across offices in Montreal, Toronto, and New York, Novacap continues to drive innovation and growth. For more information, please visit: https://novacap.ca.

About Smyth Companies, LLC
Established in 1877, Smyth Companies, LLC (Smyth) is a leading provider of high-impact label decoration for consumer goods products. From neighborhood businesses to Fortune 500 companies, Smyth’s trusted Labels Without Limits®, Dow Beauty, and PurePack® brands provide quality, innovative packaging solutions to brand owners in the beauty, health, personal care, household, food, automotive, private label, and beverage markets. Using a broad range of print technologies from traditional roll- and sheet-fed to digital and expanded gamut printing, Smyth’s products include pressure sensitive, cut and stack, and in-mold labels; shrink sleeves; flexible packaging, including pouches and rollstock; and promotional; as well as fulfillment services, and equipment application and support. Headquartered in St. Paul, Minnesota, Smyth has eight production facilities in North America, employing more than 550 associates. For more information on Smyth please visit www.smythco.com.

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Bain Capital Agrees to Acquire Supermarket & Specialty Stores Businesses from Seven & i Holdings

TOKYO, March 6, 2025 – Bain Capital, a leading global private investment firm, today announced that it has signed a definitive agreement to acquire York Holdings’ headquarters and subsidiary management functions, along with its supermarket and specialty store businesses (“SST Business Group”). Bain Capital has also agreed with Seven & i Holdings regarding the absorption-type split and the implementation of a partial reinvestment from Seven & i Holdings.

Established in October 2024 as a wholly owned subsidiary of Seven & i Holdings, York Holdings oversees 29 subsidiaries and affiliated companies, including major supermarket chains Ito-Yokado and York-Benimaru, as well as specialty retailers including Loft, Akachan Honpo, and Seven & i Food Systems (which operates the family restaurant chain Denny’s).

Founded in 1920 in Japan, Ito-Yokado has grown over 100 years under the philosophy of “striving to be a trustworthy company for customers, business partners, employees, and all kinds of stakeholders.” The company has built a reputation for high-quality food offerings, while demonstrating values of supporting the local community and the lives of customers.

York-Benimaru has a strong presence in the Tohoku and northern Kanto regions, operating community-focused supermarkets that provide fresh and ready-to-eat foods, daily necessities, home supplies, and clothing.

In addition to its supermarket operation, York Holdings manages specialty retailers such as Loft and Akachan Honpo, as well as restaurant chain Denny’s. As an integrated retailer that enriches customers’ daily lives through clothing, food, and housing, York Holdings is a leading force in the retail and consumer goods industry.

“SST Business Group is one of Japan’s leading companies in the industry, centered around businesses such as Ito-Yokado, which has a history of over 100 years; York-Benimaru, loved by locals as the community’s kitchen; as well as Loft, Akachan Honpo, and Denny’s, that together as a comprehensive retail enterprise, support our daily lives,” said Naofumi Nishi, a Partner at Bain Capital Private Equity. “We are delighted to have the opportunity to partner with such a remarkable Group and further support its growth. Bain Capital will work closely with the Group, leveraging our expertise in supporting retail and consumer goods companies both globally and locally in Japan, to bolster the company’s continued growth. In addition, we will work closely with our in-house real estate specialist team to provide comprehensive support to maximize the value of the group-operated facilities by taking on initiatives such as attracting the best tenants to these facilities.”

Bain Capital has extensive experience supporting businesses in the retail and consumer goods sectors, including drugstore chains such as Kirindo and Dollarama (a dollar store operator in Canada), as well as brand and specialty retailers such as MASH Holdings, Snow Peak, and Canada Goose. Drawing on investment insights that Bain Capital has cultivated in this sector, Bain Capital will support SST Business Group in further strengthening its operational base and accelerating its medium-to long-term business growth, in partnership with the management and employees.

On this transaction, Bain Capital’s financial advisors include BNP Paribas (as the lead), along with Citigroup Global Markets Japan Inc., and Mizuho Securities Co., Ltd. Legal advisors include Anderson Mori & Tomotsune and Ropes & Gray LLP.

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About Bain Capital

Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management.

To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

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Gimv fuels The Spice Factory’s next chapter, scaling its private label and foodservice brands across Europe

GIMV

Gimv is pleased to announce the acquisition of The Spice Factory (TSF), the market leader in private label dried culinary herbs & spices in the Benelux, serving both retailers and foodservice players with high-quality, customized solutions. With a strong foundation in private label for retail and a branded foodservice offering through its ISFI brand, TSF is poised to accelerate its international expansion.

Founded and based in Braine l’Alleud, Belgium, The Spice Factory (TSF) (thespicefactory.com), has built a strong reputation as a trusted partner to leading retailers, offering a distinctive branded approach to private label. The company sets itself apart by combining deep category expertise, a relentless focus on quality, and tailored, value-added solutions to help its customers stand out in an increasingly competitive market.

With Gimv’s support, TSF will strengthen its market position and broaden its international reach, leveraging its unmatched production flexibility and its ability to offer innovative and customer-driven solutions for retail and foodservice players.

Gimv acquires a majority stake from Gilde Equity Management and Davy De Muyer. Jorgen De Pelsmaeker, CEO, and the management team will reinvest alongside Gimv as the company embarks on its next phase of growth.

“We are excited to partner with Jorgen and the TSF team in their expansion strategy”, say David De Peuter & Laurens Boriale, respectively Partner and Principal in the Gimv Consumer team. “This acquisition is a first step in putting to work the capital Gimv recently raised, supporting Gimv Consumer’s strategy to invest in leading consumer businesses with strong growth potential to scale internationally and further enhance their market differentiation.”

“Over the years, we have built TSF into the partner of choice for retailers and foodservice players, offering customized solutions that go beyond the traditional private label approach”, adds Jorgen De Pelsmaeker, CEO of TSF. “With Gimv’s backing, we are confident in our ability to accelerate our international growth, both organically and through selective buy-and-build, while continuing to innovate and create value for our customers.”

The transaction is expected to close before the end of March 2025. No further financial details will be disclosed.

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Plantagen restructuring approved

Ratos

Plantagen in Norway and Sweden have been undergoing restructuring since August 22. At the end of December, Plantagen submitted proposals for debt settlements with the creditors. These proposals have been accepted by the majority of the creditors and today approved by the respective courts in Norway and Sweden.

Since August 22, 2024, Plantasjen Norge AS and Plantagen Sverige AB have been undergoing restructuring to ensure continued operations. The court approvals of the debt settlements in both countries means that the purpose of the restructuring can be achieved.

When the court decisions have gained legal force, the companies can exit restructuring. This is expected to take place February 18.

For more information, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21

About Ratos
Ratos is a Swedish business group focusing on technological and infrastructure solutions, consisting of 16 companies divided into three business areas: Construction & Services, Industry and Consumer. The companies have approximately SEK 32 billion in net sales (September LTM). We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in Execution and It’s All About People. We enable independent subsidiaries to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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KKR Invests in smaXtec to Accelerate Global Growth

KKR

Investment to Support Dairy Industry with Innovative Technology and Global Expansion

London, UK & Graz, Austria – 16 January 2025 – smaXtec, a leading provider of agri-tech for the global dairy industry, today announced a growth investment led by global investment firm, KKR, alongside technology investor Highland Europe (“Highland”). Existing shareholder Sophora Unternehmerkapital (“Sophora”) retained a minority stake in the business. Financial terms of the transaction were not disclosed.

 

smaXtec is a leading monitoring platform that transforms dairy farming by enhancing efficiency and promoting animal health through its proprietary technology. The platform enables early disease detection, monitors fertility with heat detection, and reduces birth-related complications, all contributing to improved cow welfare and farm productivity.

At the heart of smaXtec’s innovation is the in-vivo bolus, a proprietary sensor placed inside a cow’s stomach. This sensor provides real-time, accurate data, seamlessly integrated with a cloud-based, AI-powered analytics platform. Farmers can access actionable insights and alerts via remote monitoring, empowering them to make timely and informed decisions. Founded in 2009 in Graz, Austria, smaXtec has established a global presence, serving dairy farmers across Europe, North America, and Australia & New Zealand.

KKR’s investment is to fuel smaXtec’s product innovation and accelerate its international growth as the global dairy industry increasingly adopts digital tools to improve animal health. smaXtec expects to benefit from KKR’s operational expertise, leveraging the firm’s platform to scale as a leader in agricultural technology. Additionally, smaXtec will access KKR’s extensive network of industry professionals, particularly in agriculture and technology, to strengthen its position as a pioneer in dairy farming solutions.

Stefan Scherer, CEO of smaXtec said: “smaXtec has emerged as the leading dairy cow health management system, revolutionizing the industry. Our system empowers thousands of farmers worldwide to achieve a true triple win: enhanced animal welfare, reduced greenhouse gas emissions, and increased earnings. I am thrilled that KKR is able to ensure and accelerate our global growth, which has consistently doubled over the past five years. smaXtec consists of a competent and committed team that will achieve a lot in the future. I would like to thank them for our cooperation and look forward to the future.”

Marta Szczerba, Director in European Tech Growth at KKR, said: “smaXtec’s technology has emerged as a disruptive force in the dairy industry, enabling farmers to significantly increase the efficiency of their operations. With a deeply engaged user base, high pace of product innovation and dedication to supporting its customers, smaXtec is well-positioned to continue to drive digitalization of the dairy sector globally. We are excited to support the next chapter of the company’s growth story.”

David Blyghton, General Partner at Highland Europe, added: “By providing real-time, actionable insights into herd health, smaXtec is empowering farmers across the globe to improve animal welfare, enhance productivity and drive operational sustainability. smaXtec’s vision and product leadership in AI-powered dairy health monitoring is driving rapid revenue growth and global customer adoption – we’re delighted to be part of the journey.”

Benjamin Hubner, Managing Partner of Sophora, said: “We are excited to continue our partnership with smaXtec and join forces with KKR and Highland in the next phase of smaXtec’s development. Over the past two years, smaXtec has consistently demonstrated its ability to drive innovation and create significant value for the dairy industry. By reinvesting, we reaffirm our confidence in smaXtec’s disruptive technology and its potential to further transform the market globally.”

Today’s announcement of KKR and Highland’s investment in smaXtec is also a success story for the Styrian regional start-up ecosystem. From university spin-off to global success – smaXtec and Styria prove what a positive economic ecosystem can achieve.

KKR is making the investment in smaXtec primarily through its Next Generation Technology Growth Fund III, a fund dedicated to growth equity investment opportunities in the technology space. KKR has established a proven track record of supporting technology-focused growth companies, having invested over $21.6 billion in related investments since 2014 and built a dedicated global team of more than 35 investment professionals with deep technology growth equity expertise.

William Blair & Company is acting as exclusive financial advisor to smaXtec. The transaction is still subject to the approval of the relevant antitrust authorities.

About smaXtec

smaXtec provides dairy farmers with the most advanced health monitoring system, designed to prevent diseases in cows, boost milk yields, improve animal welfare, and reduce methane emissions in milk production. By integrating cutting-edge AI technology, such as the TruAdvice™ system, smaXtec detects potential diseases long before they become clinical. This enables farmers to prevent most diseases altogether by applying milder and alternative treatments. The combination of accurate data and intelligent insights helps farmers around the world to optimize their operations, improve the efficiency of daily tasks and reduce antibiotic use. SMAXTEC is committed to enhancing the stability, sustainability and profitability of dairy farming globally. For more information, visit smaXtec.com.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Highland Europe

Highland Europe invests in exceptional growth-stage technology and consumer companies. Formally launched in 2012, Highland Europe has raised over €2.75 billion and has invested in companies such as Adjust, AMCS, Camunda, ContentSquare, Deepki, Descartes Underwriting, GetYourGuide, Featurespace, Finbourne, Huel, ME+EM, Nexthink, Nothing, Oritain, PVcase, SoSafe, Supermetrics and Zwift. Highland’s collective history of investments across the US, Europe and China includes 45+ IPOs, 150+ M&A exits and 40 billion-dollar-plus companies.

About Sophora Unternehmerkapital

Sophora Unternehmerkapital, based in Munich, is an independent and owner-managed investment company with a focus on medium-sized companies in Germany, Austria and Switzerland. Sophora consists of an interdisciplinary team of entrepreneurs with many years of experience in the investment business and as founders and Managing Directors of companies. As a value-creating partner of entrepreneurs and management teams of medium-sized companies, Sophora provides strategic and operational know-how as well as a comprehensive network of experts and flexible capital in order to jointly discover and develop potentials. For additional information about Sophora, please visit Sophora’s website at www.sophora.de/en.

smaXtec

smaXtec animal care GmbH

Stefanie Murauer

+43 664 88440916

press@smaxtec.com

KKR

FGS Global

Alastair Elwen / Jack Shelley

+44 20 7251 3801

KKR-LON@fgsglobal.com

Sophora Unternehmerkapital

Sophora Unternehmerkapital GmbH
Melaine Louis
info@sophora.de

 

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SWIF Maven Equity Finance invests £750,000 in Tom Parker Creamery

Maven

The British Business Bank’s South West Investment Fund has marked its 100th deal in the region, delivering over £40 million of investment since its launch last year with a £750,000 investment from SWIF Maven Equity Finance into Tom Parker Creamery.

Published: Dec 12, 2024
Focus: SWIF Maven Equity Finance

Founded in 2018, Tom Parker Creamery is a producer of free-range milks and creams from British grass-fed herds. Based at Wincanton in South Somerset, the business produces natural, fully traceable, and sustainable dairy products. The range features free-range milk enriched with vitamins, naturally flavoured milks and cream, all sustainably produced and presented in nostalgic glass bottles.

The company serves several major retailers including Waitrose, Sainsbury’s, Tesco, and Ocado. It has also won various awards including a Great Taste Award (2024), The Farm Shop & Deli Best Product (2024), International Cheese & Dairy Awards; Best Health Drink (2021) and the Great British Food Awards (2022 and 2021).

Investment from SWIF Maven Equity Finance has supported the relocation to a larger facility, allowing for a significant increase in production capacity as the company continues to grow its customer base. The funding will also provide additional working capital, enable the business to increase its headcount and support further product development.

Tom Parker Creamery free ranged whole milk product

“We’re extremely excited to be working with Maven and the South West Investment Fund to help take our business to the second phase of our growth plan. With the current rise in awareness of ultra-processed foods, our range of award-winning products made with free-range British whole milk and natural ingredients mean we’re well positioned to satisfy consumer demands in this area. With this support, the investment enables us to deliver our ambitious plans and meet the rising demands from major retailers and consumers.”

Rob Yates, CEO of Tom Parker Creamery

“Tom Parker Creamery has carved out a unique space in the dairy market, driven by its commitment to high-quality, sustainably sourced products. Rob has built a strong brand, and we’re excited to back him and his team as they scale up and bring their exceptional products to more customers. The South West Investment Fund is there to support businesses just like this to grow whilst making a positive impact on the wider local economy.”

Rafi Khan, Investment Manager at Maven

“We’re thrilled to see the South West Investment Fund make its 100th deal, delivering over £40m of investment since its launch last year. The volume of investments underscores the strength and ambition of growing businesses across the South West, and the critical role of the fund in providing the capital needed for these businesses to innovate, expand, and create lasting impact in their communities. The latest investment in Tom Parker Creamery highlights our commitment to supporting sustainable, growth-oriented businesses in a broad range of sectors across the region.”

Jody Tableporter, Director UK & Regional Funds at the British Business Bank

The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the region. The Fund is increasing the supply and diversity of early stage finance for South West smaller businesses, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.

SWIF – Maven Equity Finance can provide investment of up to £5 million to support ambitious earlier and later stage businesses across the South West of England. To date, the Fund has backed sustainable packaging innovator, Kelpi, global wireless solutions provider Blu Wireless, healthcare buy and build operator, Covestus, Microsoft adoption specialist, Changing Social and leading robotic additive manufacturer, Q5D.

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Why Platinum Equity Acquired ‘Proud’ Family-Owned Italian Pesto Sauce Producer Polli

Platinum

In 1872, Fausto Polli opened a small store front selling canned vegetables in the heart of Milan.

Since that humble beginning, the Polli family has grown the business to become a leading European producer of pesto and pasta sauces.

The company today operates four plants in which more than 130 different raw materials are processed, producing approximately 29,000 tons of vegetables and more than 190 million packages every year.

A core segment of the business is private label pesto where the company has a leading position in supplying products to European grocery store chains. Traditional pesto is made of basil leaves, pine nuts, garlic and olive oil – simple ingredients considered to be high in healthy fats and antioxidants.

With family eying further international expansion, Platinum Equity recently acquired a majority stake in the company. The Polli family retains a minority stake in the business together with CEO Marco Fraccaroli, who will continue to lead the company.

“Platinum has a lot of experience helping family-owned businesses leverage our M&A capabilities and global operating expertise to capitalize on market opportunities and maximize their potential,” Platinum Equity Co-President Louis Samson said in a released statement after the deal announcement.

“Polli has built an exceptional brand with a proud heritage, and we look forward to working together to build on that legacy.”

Manuela Polli, Managing Director of Polli and sixth generation family member, said: “We are excited to continue our ambitious journey with Platinum Equity, an important partner who shares our company’s values and goals. We are confident that together we will take the business to a new level of global leadership.”

The Polli investment was led by Platinum Equity’s European Small Cap investment team, which is experienced in acquiring businesses in the food and beverage sector.

Samson, Managing Director Fernando Goni and Senior Vice President Filippo Rossi recently gave their thoughts on one of Platinum Equity’s latest investments.

(Questions and answers have been edited for clarity)

Q: Describe the business.

Goni: Polli is a family-owned business that produces pesto sauces and other condiments. The business is mostly for private label, but they also have around 15% of the business which is branded Polli. They make many other products, but it’s mostly a pesto sauce business, selling primarily to large supermarket chains, so very strong in Europe. It’s a company that did extremely well in developing that pesto sauce market.

Samson: This was a family-owned asset for many generations and divesting it was a big decision. With two prior investments (Fantini Group and DeWave), we’re known in Italy and have a track record to stand on. The advisors knew us, and they contacted us on this deal 18 months ahead of it.

The family wasn’t sure initially they wanted to sell a majority share of the business, and it took a while for them to make that decision.

During that time, our team stayed close and developed a very good relationship with the family, especially with Manuela Polli, who’s really driving change and professionalizing the company. We have tremendous respect for the legacy they’ve built and I think over time the family realized that Platinum Equity would be a good home for the business and its next chapter. We have a shared vision to improve the business and grow outside of Italy in Europe and the United States and believe we can help.

Q: For the uninitiated, what is pesto sauce used for?

Goni: It is a very basic sauce that some make themselves or you can buy from the supermarket. It’s basically basil leaves, oil, pine nuts and cheese. It’s not a very complicated product. I live in the U.K. with my family, and we eat it a lot. When we started looking at Polli, I realized I had pesto sauce both in the fridge and in the cupboards.

Rossi: Italians eat it with pasta, but outside of Italy it is a lot more than a pasta sauce. You can mix it with salads and soups. You can put it in sandwiches. It goes on meat and fish as a topping. And it’s interesting that outside of Italy, pesto as a category is growing fast, mainly for its convenience and its flexible usage in vegetarian diets. And that was one of the reasons that we liked the upside potential on the deal.

Q: It’s another instance of Platinum Equity transacting with a family-owned company. Why does the Platinum Equity approach work when it comes to approaching family or founder-owned companies thinking of a possible exit?

Goni: With Polli, it may have been difficult to make a decision to sell because it’s an asset that has been in the family for a long time. I think aligning with the vision of the family is really important. When that alignment exists, I think what Platinum Equity can provide is operational expertise, resources and the ability to grow outside of these European markets. When that aligns with what the family is looking for, then you have a really good match.

Rossi: Every deal has its own history, and it is important to be flexible and provide a solution to the situation that we have in front of us.  With Polli, the family had successfully brought in professional management from the outside already, and performance had been outstanding with CEO Marco Fraccaroli driving the business from approximately € 90 to about € 200 million in revenues. Platinum Equity has helped the company through this generational transition, which is a sensitive topic in Europe.

Q: What will be the operational focus?

Goni: I think that there’s a path of creating more operational efficiencies. I think the other area where we can support them, and there is an opportunity, is on M&A. We’ll look at opportunities, source them, work with the team on executing those deals, integrating those companies. That’s going to be a major part of the deal going forward, and we can definitely team up with them and help on that.

Rossi: We see Polli as a great platform to continue investing in organic growth and also pursue acquisitions both in Europe and the U.S. There is an exciting ambition to establish a direct presence in new geographies or in adjacent fast-growing product categories like dips, snacks, ready-made meals.

Q: Why does Platinum like the food and beverage sector?

Samson:  We’ve made several investments in food and beverage, both in Europe and North America. We like the food and beverage space because it’s quite a stable market. We look at every segment and geography differently, but some of the fundamentals are the same. We really focus on the attributes, and then we see how we can improve the company that we’re buying. But effectively, it’s generally a stable market with typically good growth characteristics. And we like that.

Q: Tell us about Platinum’s strategy in Europe.

Samson: We’ve been in Europe for more than 20 years and we’ve really supercharged the effort in the last eight to ten years. We invested in human capital and infrastructure, and we built a team that has taken us to the degree of relevance and importance in the market that we’ve reached in North America. We didn’t build the team around American transplants into the European market, but instead addressed the European reality by having a multicultural group that understands local culture and speaks the languages, whether it’s Italian, French, Spanish, German, Portuguese, Dutch or English. We have also replicated our full suite of operational and carveout personnel and capabilities on the ground at the European level, which is a hallmark of Platinum’s approach and a big differentiator for us. So far, it’s paying off. We’ve been very active and we like our current position in the market.

 

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Intended Strategic Stake by VE Partners in Atrium Agri

VE Partners

Atrium Agri B.V., a leading player in high-tech greenhouse construction and technical installations for the global horticultural sector, today announces a proposed strategic partnership with Value Enhancement Partners (VE Partners). VE Partners intends to acquire a stake in Atrium Agri, enhancing the consortium’s focus on innovative solutions within Controlled Environment Agriculture (CEA). The proposed transaction has been submitted to the Dutch Authority for Consumers and Markets (ACM).

With a strong emphasis on sustainability and innovation, the consortium develops integrated solutions for greenhouse construction, automation, water management, and climate control. Atrium Agri operates globally with offices in Europe, China, Australia, North and Central America, and the Middle East.

The collaboration unites Atrium Agri’s impressive portfolio, including renowned brands such as Havecon, Bom Group, VB Group, CambridgeHOK, and Scre3ns for greenhouse construction, screening, and climate solutions, including geothermal energy; and PB tec for technical installations in water, energy, and internal logistics. This enables Atrium Agri to deliver turnkey, bespoke solutions across all continents.

With approximately 375 employees and revenue of €225 million in 2023, Atrium Agri holds a strong market position and the capability to play a leading role in the global transition to sustainable food production.

“This proposed partnership, with significant capital investment, offers us a unique opportunity to accelerate our international growth strategy, both organically and through acquisitions,” said Marck Hagen, CEO of Atrium Agri. “By combining VE Partners’ investment power and expertise with our innovative solutions and ambition, we strengthen our position as a global market leader and take a significant step toward a more sustainable future.”

The completion of this partnership is expected within the next month.

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Stirling Square portfolio company Sustainable Agro Solutions announces the acquisition of Agroscience business from Kerry Group plc

Stirling Square

Sevilla and Lleida, Spain, 2 December 2024 – Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announces that its portfolio company Sustainable Agro Solutions (“SAS”), a leading developer and producer of biostimulants, soil and water improvers, defence activators and specialty plant nutrition solutions for the agricultural sector, has acquired Pevesa Biotech’s Agroscience division (“Pevesa Agroscience”), the plant-based biostimulant and fertilizer producer, from Kerry Group plc, a leading provider of taste and nutrition solutions for the food,beverage and pharmaceutical sectors. Financial terms of the transaction have not been disclosed.

As part of the transaction, SAS will acquire Pevesa Agroscience’s operating assets and intellectual property, and ensure continuity for customers and employees. The transaction will enable the vertical integration of a strategic raw material – amino acids deriving from natural plant sources – and allow SAS to maximize its full potential. Stirling Square will work closely alongside SAS’s leadership team as they continue to deliver their strategy of developing the company into an international market leader in agricultural biosolutions.

Stirling Square acquired a majority stake in SAS in July 2021 and is supporting the company to grow both organically through R&D investments, product development and market expansion, as well as through M&A. In July 2023, SAS acquired Biovert, a leading biosolutions business. The acquisition of Pevesa Agroscience builds on strong momentum in SAS’ strategy, as it progresses a substantial project to expand its facilities in Lleida,Spain, to meet growing customer demand and support the business’ future growth.

‍Eduard Vallverdú, CEO of SAS said: “We have admired Pevesa Agroscience for a long time and are thrilled to announce this investment at an exciting time for our business. This transaction fits very well into SAS’ core business and will enable us to introduce Pevesa Agroscience’s complementary and differentiated technology, intellectual property, and operating assets to SAS. We will integrate into SAS a strategic raw material, allowing us to increase the efficiency, quality, and differentiation of the company’s biostimulants product portfolio. That will support our ambition to become a global leader in the development and production of biosolutions for the agricultural sector. We continue to explore new investment opportunities to supplement our organic growth as we look ahead.”

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BW Fusion, Biodyne, and Agronomy 365 Join to Revolutionize Agriculture Industry, Supported by Bain Capital Double Impact

BainCapital

Union of three companies creates market-leading platform for crop nutrition and grower support to empower U.S. farming communities

FORT WAYNE, Indiana and FONDA, Iowa – November 19, 2024 – BW Fusion, an innovator in agricultural crop and soil nutrition; Biodyne, an environmental microbiology company; and Agronomy 365, a tech-enabled crop analytics and management program; today announced their merging to create an integrated platform under BW Fusion. The combined company will offer growers more effective and sustainable biologicals at every stage of the crop nutrition cycle. The transaction formalized a previous strategic alliance between the three companies and will accelerate product innovations and enhance grower support. Financial support for the transaction was provided by Bain Capital Double Impact, the impact investing arm of Bain Capital.

In 1989, Dr. Fred Farley, an esteemed microbiologist and plant physiologist founded Biodyne and began developing beneficial microbes for environmental stewardship and bioremediation. His research was applied to hundreds of plant and vegetation species, proving efficacy to reduce soil contamination and improve overall plant health. In 2012, seeing the promise of Dr. Farley’s work, Gil Farley and Tim Weir formed a new venture to commercialize Biodyne’s products. These efforts later led to a partnership with third-generation grower Grant Wells and the founding of BW Fusion in 2019 with a focus on row crops such as corn, soy and wheat. As BW Fusion expanded, a partnership with Jason Schley and Agronomy 365 was formed.

Going forward, BW Fusion will marry Biodyne’s 30+ years of biologicals research, Agronomy 365’s cutting-edge data and software tools, and BW Fusion’s product development, manufacturing and commercial expertise to support farming communities across the U.S. BW Fusion is poised to benefit from long-term secular tailwinds in agriculture and increasing demand for environmentally sustainable biological crop nutrition solutions.

“Our mission has always been to help growers improve crop productivity and long-term soil health. As farmers ourselves, we understand the importance of providing growers with the right data to make informed decisions. Through our partnership to date, it’s evident that leveraging our combined strengths supports growers with the resources they need at scale to improve farming methods and increase long term profits,” said Jason Schley, BW Fusion’s Chief Agronomist and Product Officer. “BW Fusion’s products are now used on over 1 million acres across the U.S., and we are excited to partner with Bain Capital Double Impact to continue supporting farming communities while simultaneously helping the environment win,” said Grant Wells, a Partner at BW Fusion.

“We are excited to collaborate with the founders to create a complete solution that fuses leading agronomy, environmental microbiology, and grower-support to accelerate BW Fusion’s impact” said Jacob Donnelly, a Partner at Bain Capital Double Impact. “Our investment in the BW Fusion platform reflects our strategy of partnering with mission-driven companies to help them scale and achieve greater climate and sustainability results.”

Financial terms of the private transaction were not disclosed.

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About BW Fusion

BW Fusion, an innovator in agricultural crop and soil nutrition; Biodyne, an environmental microbiology company; and Agronomy 365, a tech-enabled crop analytics and management program; merged to create an integrated platform under BW Fusion. The combined company offers growers more effective and sustainable biologicals at every stage of the crop nutrition cycle. For more information on BW Fusion, visit the website at www.bw-fusion.com.

About Bain Capital Double Impact

Bain Capital Double Impact is the impact investing strategy of Bain Capital, a leading global private investment firm. Bain Capital Double Impact leverages deep industry experience and an active, value-added approach to build great companies that deliver both competitive financial returns and meaningful, measurable social and environmental good. Bain Capital Double Impact partners with companies across three themes – health & wellness, education & workforce development, and sustainability to create long-term value and meaningful social impact at scale. For more information, visit www.baincapitaldoubleimpact.com

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Charlyn Lusk
Stanton
(646) 502-3549
clusk@stantonprm.com

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