Stirling Square Partners portfolio company Sustainable Agro Solutions has acquired agricultural inputs company Biovert. Financial details were undisclosed.
Spain-headquartered SAS specializes in bio-stimulants, soil and water inputs and plant nutrition solutions for the agricultural sector.
Stirling Square invested in SAS in July 2021, with capital deployed from its 2017-vintage Fund IV, which closed on €950 million in 2020. The firm is currently raising its fifth flagship vehicle, which has a $1.5 billion target.
“The acquisition of Biovert will enable SAS to benefit from certain new technologies that are not used today, such as seaweed biostimulants, therefore expanding and strengthening the company’s product portfolio,” a source close to the deal told Agri Investor.
“Similarly, Biovert will benefit from SAS capabilities in amino acids and humic acids and other product categories not in their portfolio.”
The source added that Biovert has a strong commercial reach in certain strategic geographies where SAS has a limited presence such as Chile, Peru, Morocco and Costa Rica. Meanwhile, Biovert’s product offering will benefit from greater exposure to geographies where SAS has a strong footprint, such as Mexico and Brazil.
Stirling Square partner Enrico Biale said in a statement: “The strong cultural fit between teams, as well as the complementary nature of Biovert’s business – geographically and from a product technology perspective – make this the ideal first acquisition for SAS.
“This is an important step forward in our ambition to jointly create one of the global leaders in the development and production of biosolutions”.
SAS CEO Eduard Vallverdú added: “Biovert has a high-quality product portfolio, a strong knowledge of the bio-stimulants sector, including seaweed extracts – a strategic growth area for our business – as well as a leading position in organic solutions.
“Biovert has an experienced and committed management team, who has executed on a clear strategic vision and has promoted a culture based on innovation and excellence. I am looking forward to seeing both teams work together to reinforce our long term strategy. Stirling Square has been instrumental in supporting this transformational investment which will help achieve the next phase of our growth strategy.”
