Olympus Partners has won the auction for 3D Corporate Solutions, the Monett, Missouri, maker and distributor of pet food and food ingredients.
The Stamford, Connecticut, buyout shop is acquiring 3D Corporate, an April 29 FTC filing and two sources said. Early-termination notices appear on the FTC site after the regulator has conducted an antitrust review of a deal.
3D Corporate produces $35 million to $40 million Ebitda, one of the sources said.
AGR Partners invested in 3D in November 2015, according to PitchBook. The growth firm put 3D up for sale nine months ago, sources said.
Harris Williams advised on the sale, people said. All the final bidders were PE, the first source said.
How much Olympus paid for 3D is unclear. AGR Partners was seeking $400 million for 3D, the second person said.
AGR Partners, Davis, California, invests in companies in agriculture and the food value chain. Ejnar Knudsen, a former Western Milling executive, formed AGR in 2012.
The firm typically invests $25 million to $75 million per deal, structured as either non-controlling equity or subordinated debt.
3D won’t be Olympus’s first pet deal. The PE firm owns Petmate, a supplier of non-food pet products to retailers.
Olympus, a middle-market buyout shop, invests in sectors including business services, consumer and restaurants, as well as industrial and packaging.
In March, Olympus acquired Tank Holding for a second time, from Leonard Green Partners. The firm in July bought Rise Baking from Arbor Investments.
Olympus declined comment. AGR and 3D couldn’t be reached for comment.
Action Item: For more info on AGR, call CEO Knudsen at +1 530-564-0626