Northwest Agricultural Products (NAP) is a provider of specialty agricultural products used to enhance plant health and optimized crop yields. The company’s technical strengths include plant pathology and physiology, advanced fermentation, bioprocess development and chemical, biochemical and environmental engineering. NAP was founded in 1989 by David Bergevin and is headquartered in Pasco, WA (www.nap-chem.com).
“We are excited to team up with Verdesian – a strong platform that offers the experience and resources necessary to help a highly specialized company like NAP to grow and develop. We are confident that NAP can use the Verdesian platform to expand its business and energize its sales and marketing capabilities so that its products can enhance plant health and nutrition in markets where they are needed most,” said Mr. Bergevin.
Verdesian Life Sciences is a platform company formed by Paine & Partners to invest in the plant health and nutrition sectors. The company was formed in September 2012 simultaneous with the completion of its first acquisition, Biagro Western Sales. Biagro focuses on technologies used to develop plant health and plant nutrition products in agricultural markets globally. Verdesian is headquartered in Cary, NC (www.vlsci.com).
“We are excited about our transaction with NAP, which is an important next step in Verdesian’s growth strategy. The acquisition of NAP underscores Verdesian’s strategic focus on plant technologies that enhance the uptake of key nutrients using multiple modes of action as well as aligning plant health nutritional technologies with agronomic practices,” said J.J. Grow, Chief Executive Officer of Verdesian Life Sciences. “NAP’s differentiated products – its bioscience lines, in particular – are highly complementary to Biagro Western’s. NAP has built a strong position in its markets, and Verdesian will leverage its international platform to expand NAP’s customer base to take it to a new level of growth. We look forward to working with NAP’s employees and we welcome them to the Verdesian family.”
Paine & Partners provides equity capital for management buyouts, going private transactions, and company expansion and growth programs. The firm, with $1.2 billion of capital under management, has offices in San Mateo, CA; New York, NY and Chicago, IL (www.painepartners.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 2-27-13