Verdesian Life Sciences, which is backed by Paine & Partners, has acquired all of the assets of Plant Syence Ltd and its affiliates. Financial terms weren’t announced. Plant Syence, of the U.K., supplies plant nutritional solutions to the agriculture and horticulture markets.
Verdesian Life Sciences, LLC (“Verdesian”), a Paine & Partners, LLC (“Paine & Partners”) company, today announced that it has acquired all of the assets of Plant Syence Ltd and its affiliates (“Plant Syence”). Plant Syence is an East Yorkshire-based company which has served as a manufacturer’s representative for Verdesian in the United Kingdom and continental Europe for the last 11 years. Financial terms of the transaction were not disclosed.
“Verdesian is committed to product development and enhancing our portfolio through acquisition of companies and technologies. The acquisition of Plant Syence is an important step in Verdesian’s growth strategy,” said JJ Grow, Chief Executive Officer of Verdesian Life Sciences. “We have had a successful and long-term relationship with Plant Syence. They’ve developed strong local relationships and have offered keen insight into local markets that has led to the continued development of Verdesian products. We welcome Plant Syence to the Verdesian family and look forward to creating a global plant health company together.”
“We firmly believe that this development will benefit the company and our customers,” said John Haywood, CEO Plant Syence. “Increased investment from our new parent company will allow us to be more responsive to the needs of our customers and provide more support to those using our products. Our team will remain the same, as will the quality of our products, and with this extra support we plan to develop more innovative products.”
Plant Syence will immediately begin conducting business as Verdesian Life Sciences Europe, Ltd. Haywood will assume the Managing Director position of Verdesian Life Science Europe and will report to JJ Grow.
About Plant Syence
Founded in 2002, Plant Syence is a supplier of plant nutritional solutions to the agriculture and horticulture markets. Plant Syence has worked with leading research institutes to help develop technologies and ideas for the European market to provide a full independently verified local support package.
About Verdesian Life Sciences, LLC
Verdesian focuses on investments in plant health and nutrition. Established in September 2012 by Paine & Partners, a global private equity investment firm that specializes in the food and agribusiness industry, Verdesian acquired Biagro Western Sales, LLC, a leader in protected technologies for developing plant health and plant nutrition products, in September 2012, and Northwest Agricultural Products, a world-class provider of specialty agriculture products, in February 2013. Further information about Verdesian is available at www.VLSci.com.
About Paine & Partners, LLC
Paine & Partners provides equity capital for management buyouts, going private transactions, and company expansion and growth programs. Paine & Partners engages exclusively in friendly transactions developed in cooperation with a company’s management, board of directors and shareholders. The firm currently makes investments through its $1.2 billion fund, Paine & Partners Capital Fund III, L. P. and related entities.
Paine & Partners focuses on the food and agribusiness industry globally, and its principals, through a predecessor fund, have made successful strategic investments in Seminis, then the world’s leading global developer, producer and marketer of vegetable and fruit seeds; and Advanta Netherlands Holdings BV, at the time, the largest independent agronomic seed company in the world. Paine & Partners also invested in Icicle Seafoods, a leading producer, harvester and processer of salmon, pollock, halibut, cod, crab and other seafood products with operations in North and South America and sales globally. Paine & Partners’ most recent investments include Sunrise Growers~Frozsun Foods, a leading value-added frozen fruit processor and marketer; Eurodrip, a global manufacturer and supplier of drip irrigation solutions; Verdesian Life Sciences, a U.S.-based plant health and nutrition investment platform; Scanbio Marine Group, a leading Norwegian producer of fish protein concentrate, fish meal, and fish oil; and Costa Group, Australia’s largest integrated grower, packer and marketer of fresh fruits and vegetables. The complex investment opportunities in today’s rapidly evolving agribusiness environment play to the strengths of Paine & Partners’ differentiated approach. For further information, see www.painepartners.com.