Partners Group has agreed to acquire a majority stake in Rovensa from Bridgepoint. The deal puts Rovensa at a valuation of 1 billion euros. Rovensa is a provider of specialty crop nutrition, biocontrol and protection products.
Partners Group to acquire Rovensa, a leading provider of specialty crop nutrition, protection and biocontrol products, from Bridgepoint Partners Group, the global private markets investment manager, has on behalf of its clients agreed to acquire a major equity stake in Rovensa (“Rovensa” or “the Company”), a leading provider of specialty crop nutrition, biocontrol and protection products, from Bridgepoint, a major international private equity group. The transaction values the Company at an enterprise value of around EUR 1 billion.
Rovensa’s portfolio of agricultural solutions and technologies helps farmers to enhance crop yields and provide food security. Founded in 1926 and headquartered in Portugal, the Company has three divisions: BioNutrition, which provides agricultural crops with nutrients for growth and healthy development; Crop Protection, which eliminates or prevents biological threats in crops; and BioControl, which offers products based on biological inputs, such as plant extracts and micro-organisms. Rovensa specializes in formulating sustainable products which reduce the environmental impact of agriculture, combat its contribution to climate change and support the cultivation of healthy food. Its products are sold in more than 70 countries and generate an annual revenue of approximately EUR 360 million.
Following the investment, Partners Group will work closely with Rovensa’s management team, led by Chief Executive Officer Eric van Innis, on several key strategic initiatives, including the accelerated development of the company’s leading biological solutions portfolio, the continued internationalization of the company, and select further acquisitions to continue to build its capabilities. In addition, Partners Group plans to continue to support the company’s research and development culture, focusing on high-growth market niches.
Eric Van Innis, Chief Executive Officer, Rovensa, says: “We have benefitted greatly from Bridgepoint’s ownership since 2017 and our recent growth trajectory reflects this. However, with a growing global population, ambitious environmental targets, and health concerns, the agricultural sector remains essential and we believe its strategic importance ensures there are further exciting growth opportunities ahead. We are convinced that Partners Group, with its global presence and focus on entrepreneurial ownership, is the right partner with which to continue building Rovensa’s platform and seize those opportunities. We look forward to working hand-in-hand with Partners Group’s team in this next phase of growth and to corresponding to their trust in our project.”
Andrew Deakin, Managing Director, Private Equity Directs Europe, Partners Group, states: “Rovensa represents a great opportunity to support a resilient business in a market characterized by steady long-term growth. The Company is ideally positioned to capitalize on the growing trend towards sustainable agricultural products, which will be a core element of the strategy we will continue to pursue. We were attracted to the Company’s reputation, talented management team and high-quality product portfolio and see compelling potential for accelerated growth. We are very excited about this meaningful investment in Iberia and are looking forward to supporting Rovensa’s continued growth journey.”
Hector Perez, partner responsible for Bridgepoint’s investment activities in the Iberian region, says: “We are extremely pleased with the progress made by Rovensa since our acquisition in 2017. Today it leads the field globally in BioSolutions and its products have become a prominent component in sustainable agriculture. The business has made a significant leap forward both through continued organic development, fueled by its product innovation capabilities, and through the execution of six strategic add-on acquisitions. We have enjoyed an extremely productive relationship with a talented management team, led by Eric van Innis and Nuno Loureiro, and are confident of the continued growth of the business in its sector.”
About Partners Group
Partners Group is a leading global private markets investment manager. Since 1996, the firm has invested over USD 135 billion in private equity, private real estate, private debt and private infrastructure on behalf of its clients globally. Partners Group is a committed, responsible investor and aims to create broad stakeholder impact through its active ownership and development of growing businesses, attractive real estate and essential infrastructure. With over USD 96 billion in assets under management as of 30 June 2020, Partners Group serves a broad range of institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,500 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn or Twitter.
Partners Group’s private equity business has an established track record of investing in leading businesses with development potential to generate attractive returns for its clients. With entrepreneurial governance at the heart of its approach, Partners Group’s private equity business aims to build high-performing boards and works together with management teams on targeted value creation initiatives. These enable long-term, sustainable growth, to the benefit of all stakeholders. Partners Group’s private equity business has directly invested in over 240 businesses since inception and today has USD 45 billion in assets under management.
Bridgepoint is an international alternative asset management firm. With over EUR 20 billion of assets under management and over EUR 28 billion of capital raised to date, its private equity funds typically focus on acquiring well managed companies in attractive sectors helping companies and management teams by investing in expansion, operational transformation or via consolidating acquisitions.
The Firm is currently investing in middle-market businesses with four distinct fund strategies:
Bridgepoint Europe funds – its largest funds – invest in companies valued between EUR 200 million and EUR 1.3 billion; BDC, its lower mid-cap buyout and growth capital business focuses on acquisitions in companies valued between EUR 50 million and EUR 200 million;
Bridgepoint Growth, which makes growth capital investments in the consumer, media, technology and business services sectors in companies using digital technologies to achieve transformational growth in their end markets; and Bridgepoint Credit, which specialises in private debt lending to European middle-market companies. Bridgepoint has offices in Amsterdam, Frankfurt, Istanbul, London, Luxemburg, Madrid, New York, Paris, San Francisco, Shanghai and Stockholm.