Platte River Equity has acquired Shelton, Connecticut-based Tiger-Sul Products, a provider of sulphur fertilizers and crop performance products. No financial terms were disclosed.
DENVER, Dec. 12, 2016 (GLOBE NEWSWIRE) — Platte River Equity announced today that it has acquired Tiger-Sul Products (“Tiger-Sul” or the “Company”), a global leader in sulphur fertilizers and crop performance products, in partnership with existing management. Tiger-Sul was acquired from H.J. Baker & Bro., Inc., which has owned the Company since 2005 and will retain a minority equity position. Tiger-Sul’s headquarters will remain in Shelton, Connecticut, and the Company will continue to operate its existing facilities in Atmore, Alabama; Stockton, California; Irricana, Alberta (Canada); and Shanghai, China.
“For more than 50 years, Tiger-Sul has been providing farmers around the globe with high quality sulphur bentonite and micronutrient fertilizers, pushing the boundaries of innovation in the industry,” said Don Cherry, CEO of Tiger-Sul. “Platte River has the resources and experience to help us accelerate the Company’s growth in the global market.”
“We were attracted to Tiger-Sul because of its reputation in the agriculture industry for superior products and a consistent ability to deliver product innovations to address the needs of its end customers,” said Kris Whalen, Managing Director of Platte River. “We welcome Tiger-Sul to the Platte River portfolio and look forward to partnering with Don Cherry and the leadership team to take full advantage of the available growth opportunities,” added Platte River Vice President, Eric Crawford.
Platte River invested capital out of its third fund, Platte River Equity III, L.P., to acquire Tiger-Sul. Bartlitt Beck Herman Palenchar & Scott LLP served as legal counsel to Platte River.
About Platte River Equity
Based in Denver, Colorado, Platte River Equity is a private equity firm focused on equity investments from $20 million to $80 million in lower middle market operating companies with enterprise values generally between $40 million and $250 million. The firm invests in sectors where it has deep operating and investing experience, including aerospace and transportation; energy and industrial products and services; and agriculture, chemicals, metals and minerals. Platte River has raised funds with committed capital in excess of $700 million.
About Tiger-Sul Products
Tiger-Sul is a global leader in sulphur bentonite, sulphur bentonite micronutrients technology, and other well-established crop performance products. For more than 50 years, Tiger-Sul product innovations have been used by the agriculture industry to improve global crop production and satisfy the specialty fertilizer requirements of agricultural customers around the world.