Paine & Partners establish new plant health investment platform

By CnAgri2012-09-17 18:30:57 Print

Paine & Partners, LLC, a global private equity investment firm, announced the establishment of a new investment platform called Verdesian Life Sciences, LLC, which will focus on investments in plant health and nutrition.

In addition, Paine & Partners announced that, as the first investment for that platform, Verdesian has acquired Biagro Western Sales, LLC, which focuses on protected technologies used to develop plant health and plant nutrition products in agricultural markets globally. Financial terms of the transaction were not disclosed.

With the acquisition of Biagro Western, Verdesian will become a leader in the plant health and plant nutrition market. As a subsidiary of Verdesian, Biagro Western will continue to provide customers with innovative solutions that specialize in plant nutrition, phosphite fertilizers, plant protectants and seed treatments, under the Biagro Western name. JJ Grow will serve as chief executive officer of Verdesian.

Biagro Western focuses on products and solutions that promote healthier plants and stronger crop yields. The portfolio includes the industry-leading line of Nutri-Phite® plant nutrition products. Biagro Western's Take Off ST is a seed treatment that increases crop emergence, improves stress tolerance and combats other key issues facing growers today. Nutri-Phite, Take Off ST and Biagro Western's other products have a strong customer base in the U.S. and internationally. The company also has an expanding intellectual property portfolio.

Biagro Western's experienced management team will continue with Verdesian. Peter Alvitre will serve as chief operating officer of Biagro Western and Nigel Grech will serve as the company's chief science officer. Ray Copeland, who served as president of Biagro Western, will retire after a long and successful career, effective immediately.