Agriculture technology platform Verdesian Life Sciences has acquired QC Corporation, a Missouri-based ferrous sulphate and micro-nutrients company. Both companies are portfolio investments of agribusiness-focused private equity firm Paine & Partners.
The acquisition is part of a strategy to consolidate Verdesian’s position as a market leader in plant technology and create a broader customer base, said Kevin Schwartz, the president of Paine & Partners.
The newly-formed company will continue to have the capital and backing of Paine & Partners.
Paine & Partners created Verdesian in 2012 as an investment platform focusing on the plant health and nutrition sector. It aims to identify and acquire target companies with “promising, but commercially underexploited technologies”, according to its website. “Verdesian will maximize the value of its portfolio by providing sales relationships, marketing expertise, and portfolio synergies,” it added.
QC Corporation joined Paine & Partner’s portfolio roster in May this year when it was bought by Paine & Partner’s Food & Agriculture Fund III.
Financial details of the deal were not disclosed.