Paine Schwartz Partners has invested in livestock health products producer Warburton Technology and created a new Animal Health and Nutrition investment platform.
The platform will also house MS Biotech, a provider of products and services designed to maximize performance of beef feedlot and dairy producers, which Paine invested in last year.
Paine’s investment in Warburton Technology was made by its Food Chain Fund IV. The value was not disclosed.
“Animal health and nutrition is a key focus area for our firm, and we are eager to strengthen our existing position and target new opportunities in the sector through the AH&N platform,” said Paine Schwartz CEO and founding partner Kevin Schwartz.
“We have made important progress since our initial investment in MS Biotec and will leverage the capabilities of our expanded team to support growth.”
Ireland-based Warburton Technology is the sole supplier of Multimin 90, a patented injectable solution that provides a supplementary source of zinc, copper, selenium and manganese for cattle. The company supplies its product to the US through its subsidiary Multimin USA.
Paine has appointed the former global leader of Elanco Animal Health’s research and development division William Weldon as CEO of its new Animal Health and Nutrition platform. The leadership positions at Warburton Technology, Multimin USA and MS Biotech remain unchanged.
“It is an honor to lead this innovative new platform, comprising two highly complementary companies that form a global cattle platform focused on non-antibiotic solutions to alleviate difficult health and production challenges,” said new Animal Health and Nutrition CEO William Weldon.
“With this platform, we will be able to capture the tremendous opportunities in the animal health market by building on the strengths of Multimin and MS Biotec and driving their mutual growth.”
Paine closed its fifth food fund on $1.45 billion this year, exceeding the $893 million haul of its predecessor.
The addition of new LPs from Asia and the Middle East played a key role in the latest fund exceeding its hard-cap.