Partners Group, an investment manager, has on behalf of its clients agreed to acquire a major equity stake in Rovensa, a leading provider of specialty agrochemicals, from Bridgepoint, a major international private equity group.
The transaction values the Company at an enterprise value of around EUR 1 billion (USD 1.17 billion).
Following the investment, Partners Group will work closely with Rovensa’s management team, led by Chief Executive Officer Eric van Innis, on several key strategic initiatives, including the accelerated development of the company’s leading biological solutions portfolio, the continued internationalization of the company, and select further acquisitions to continue to build its capabilities.
In addition, Partners Group plans to continue to support the company’s research and development culture, focusing on high-growth market niches.
Eric Van Innis, Chief Executive Officer, Rovensa, says: “We are convinced that Partners Group, with its global presence and focus on entrepreneurial ownership, is the right partner with which to continue building Rovensa’s platform and seize those opportunities. We look forward to working hand-in-hand with Partners Group’s team in this next phase of growth and to corresponding to their trust in our project.”
Andrew Deakin, Managing Director, Private Equity Directs Europe, Partners Group, states: “Rovensa represents a great opportunity to support a resilient business in a market characterized by steady long-term growth. The Company is ideally positioned to capitalize on the growing trend towards sustainable agricultural products, which will be a core element of the strategy we will continue to pursue. We were attracted to the Company’s reputation, talented management team and high-quality product portfolio and see compelling potential for accelerated growth.”
Hector Perez, partner responsible for Bridgepoint’s investment activities in the Iberian region, says: “We are extremely pleased with the progress made by Rovensa since our acquisition in 2017. Today it leads the field globally in BioSolutions and its products have become a prominent component in sustainable agriculture. The business has made a significant leap forward both through continued organic development, fueled by its product innovation capabilities, and through the execution of six strategic add-on acquisitions.”
Rovensa’s portfolio of agricultural solutions and technologies helps farmers to enhance crop yields and provide food security. Founded in 1926 and headquartered in Portugal, the Company has three divisions: BioNutrition, which provides agricultural crops with nutrients for growth and healthy development; Crop Protection, which eliminates or prevents biological threats in crops; and BioControl, which offers products based on biological inputs, such as plant extracts and micro-organisms. Its products are sold in more than 70 countries and generate an annual revenue of approximately EUR 360 million (USD 421.3 million).