Verdesian Life Sciences, a privately held company based in Cary focused on plant technology, has acquired Northwest Agricultural Products, a provider of eco-friendly chemicals and biological technology that aims to improve plant production and quality.
Financial terms of the deal, which was announced Wednesday, were not disclosed.
Verdesian is owned by Paine & Partners, a $1.2 billion private equity firm focused on the agricultural sector.
Northwest will remained based in Pasco, Wash., through the 2013 growing season, Verdesian said.
Northwest products includes Sterics, which improves the absorption of phosphorous, and PolyAmines, which delivers micronutrients.
“We are excited about our transaction with NAP, which is an important next step in Verdesian’s growth strategy,” said J.J. Grow, chief executive officer of Verdesian. “The acquisition of NAP underscores Verdesian’s strategic focus on plant technologies that enhance the uptake of key nutrients using multiple modes of action as well as aligning plant health nutritional technologies with agronomic practices. NAP’s differentiated products – its bioscience lines, in particular – are highly complementary to Biagro Western’s, which Verdesian acquired in 2012. NAP has built a strong position in its markets, and Verdesian will leverage its international platform to expand NAP’s customer base to take it to a new level of growth.”
Paine & Partners launched Verdesian in September 2012.
