Levine Leichtman Acquires AGDATA
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Levine Leichtman Acquires AGDATA

The buy of AGDATA is LLCP's second platform for $1.4 billion and third lower middle market fund

AGDATA provides data and analytics to the agriculture and animal health sectors

SOURCE: Getty Images

Levine Leichtman Capital Partners (LLCP) has acquired AGDATA, a provider of data services to the agribusiness and animal health sectors, from Vista Equity Partners. Vista acquired AGDATA in July 2014 from SFW Capital Partners.

AGDATA is a provider of data and analytics to agricultural, crop protection and animal health manufacturers throughout the US and Canada. The company collects and analyses data from over 8,000 retailers and distributors to identify sales data and trends and to develop and maintain marketing and seed rebate programs. The company, led by CEO Heffy Provost, was founded in 1985 and is based in Charlotte, North Carolina.

“LLCP’s investment is an important milestone in our journey to cement AGDATA’s position as a market leader,” said Mr. Provost. “LLCP brings deep partnership experience within the tech-enabled business services sector and has a long track record of supporting management teams of companies with significant growth potential. We believe that our new partnership will enable the continued development and expansion of AGDATA’s suite of valued, high-quality data services that we provide to our customers.”

“We are pleased to partner with Heffy and the AGDATA team to provide the highest-quality data and analytics to the agriculture and animal health sectors,” said Josh Kaufman, a senior managing director at LLCP. “AGDATA serves attractive end markets that benefit from macro tailwinds including population growth, a growing need for crop efficiency, and increased spending on food and pets. We are excited to capitalize on these favorable tailwinds to build on AGDATA’s market leadership position.”

Levine Leichtman invests in US and Europe-based middle-market companies across industries including franchising, business services, education, engineered products, healthcare and light manufacturing. The firm closed its most recent fund, LLCP Lower Middle Market Fund III LP (Fund III), at an oversubscribed $1.38 billion in September 2021. The acquisition of AGDATA is the second platform investment made by Fund III which invests in United States-based companies with less than $50 million of revenue.

Fund III’s first platform investment was made in September 2021 with the buy of Wisconsin-based In-Place Machining Company (IPM) from Platte River Equity. IPM’s maintenance and repair services include field machining, welding, optical and laser alignment, diamond wire-cutting, and robotic demolition. IPM’s customers are active in the industrial, naval and marine, nuclear and hydro, metals, and aerospace sectors.

Since its founding in 1984 by Arthur Levine and Lauren Leichtman, LLCP has managed approximately $12.8 billion of institutional capital across 15 investment funds and has invested in over 90 portfolio companies. LLCP currently has $8.9 billion of assets under management with offices in Los Angeles, New York, Chicago, Charlotte, Miami, London, Stockholm, The Hague and Frankfurt.

Raymond James & Associates was the financial advisor to AGDATA on this transaction and Kirkland & Ellis provided legal services.

© 2022 Private Equity Professional | October 7, 2022

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