Inverness Graham backed Custom Agronomics Acquires BioTek Ag, Expands Focus on Sustainable Nutrient Use Efficiency Products
Inverness Graham Green Light, the environmental sustainability focused lower middle market buyout strategy of Inverness Graham, announced today that its Florida based portfolio company Custom Agronomics (“Custom Ag”) has acquired Clinton, NC based BioTek Ag (“BioTek”). The acquisition of BioTek expands Custom Ag’s range of private-labeled liquid plant nutrients, nitrogen stabilizers and other specialty products that help deliver key environmental improvements including yield enhancement and soil health. Further, the addition of BioTek extends the company’s reach in the Midwest and Southeast U.S. regions. Custom Ag is the second of three active portfolio companies in Inverness Graham’s Green Light strategy.
“The acquisition of BioTek is an exciting opportunity for the combined business,” stated Paul Nolen, Managing Principal at Inverness Graham. “In addition to building upon Custom Ag’s strong private-label model and nutrient use efficiency product offering, the acquisition offers opportunities to augment formulation expertise, expand portfolio offerings to a new and broader customer base and add great people to the team. We look forward to supporting continued strategic acquisition efforts and organic initiatives to accelerate the growth of the overall platform.”
Custom Ag CEO Tom Snipes stated, “BioTek is an exciting strategic acquisition for the overall business. BioTek strengthens our nutrient use efficiency product offering as well as talent on our team. We are pleased to offer an even broader private label solution to existing and new customers.”
“Custom Agronomics is an ideal partner for BioTek’s next chapter of growth,” stated Jim Wendling and Kim Tart, BioTek’s Founders. “We share a commitment to exceptional products and service via a private label offering and believe there is significant cultural fit between the two organizations. The capabilities of the combined platform will allow us to better service our customers and pursue new opportunities.”
Inverness Graham and Custom Ag are actively seeking acquisitions of businesses that provide high quality products enhancing yield and environmental sustainability to the agriculture and turf markets.
