Platte River Equity has acquired Tiger-Sul Products, provider of sulphur fertilizers and crop performance products, from H.J. Baker which has owned the company since 2005 and will retain a minority equity position.
Tiger-Sul is a manufacturer, importer and exporter of sulphur bentonite, sulphur bentonite micronutrients technology, and other crop performance products. Sulphur Bentonite is a 90% pure elemental form of sulphur. It provides degradable sulphur to plants and is a key nutrient that improves the metabolism of nitrogen, phosphorus and potassium. Tiger-Sul is headquartered in Shelton, CT (near New Haven) and has operating facilities in Atmore, AL; Stockton, CA; Irricana, AB; and Shanghai, China (www.tigersul.com).
“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.
Platte River makes equity investments of $20 million to $80 million in lower middle-market companies with enterprise values between $40 million and $250 million. The firm focuses on investing in the aerospace and transportation; energy and industrial products and services; and chemicals, metals, minerals and agriculture sectors. Platte River is based in Denver (www.platteriverequity.com).
The investment in Tiger-Sul was made by Platte River out of its third fund, Platte River Equity III, LP.
© 2016 Private Equity Professional | December 21, 2016