M&A Deal Summary

NativeSeed Acquires Star Seed

On January 25, 2024, NativeSeed acquired agriculture company Star Seed from PNC Erieview Capital and Sequel Holdings

Acquisition Highlights
  • This is NativeSeed’s 1st transaction in the Agriculture sector.
  • This is NativeSeed’s 1st transaction in the United States.
  • This is NativeSeed’s 1st transaction in Kansas.

M&A Deal Summary

Date 2024-01-25
Target Star Seed
Sector Agriculture
Buyer(s) NativeSeed
Sellers(s) PNC Erieview Capital
Sequel Holdings
Deal Type Add-on Acquisition

Target

Star Seed

Osborne, Kansas, United States
website
Star Seed is a producer, conditions and markets high-quality seeds to the agriculture industry. Star Seed, Inc. is a seed distributor focused on native grasses, wildflowers, forages, cover crops, wheat, and other small grains. Star Seed was founded in 1920 and is based in Osborne, Kansas.

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Buyer(S) 1

Buyer

NativeSeed

Carpinteria, California, United States

website


Category Company
Sector Agriculture
DESCRIPTION

NativeSeed is a provider of native seeds and erosion control products used in land reclamation and conservation, as well as various construction, commercial, and consumer applications. The Company goes to market under various brands, including Granite Seed, S&S Seeds, and Pacific Coast Seed, among others, each of which provides native seeds to a diverse group of landowners, energy companies, state & federal agencies, environmental engineers, and contractors, with a particularly strong presence throughout the Western U.S. Additional brands such as Kamprath Seed and Bruce Seed serve the agriculture market with cover crop seed blends to assist in pollination and soil health. Its Nature’s Seed brand sells flower, turf, hunting, and grazing seed blends to homeowners, hobby farmers, and smaller rural landowners throughout the United States. NativeSeed is based in Carpinteria, California.


DEAL STATS #
Overall 1 of 1
Sector (Agriculture) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Kansas) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1

Seller(S) 2

DESCRIPTION

PNC Erieview Capital is a provider equity and junior capital to middle-market companies throughout the US and Canada. The Firm looks to support private equity sponsor-led buyouts and recapitalizations, non-sponsored buyouts, family office buyouts, and growth equity needs. PNC Erieview typically works with profitable companies (EBITDA greater than $5 million) valued from $20 to $250 million. Areas of interest include distribution, consumer products, healthcare, manufacturing, and services. The Firm was originally known as National City Equity Partners and was established in 1979. PNC Erieview Capital is based in Cleveland, Ohio.


DEAL STATS #
Overall 14 of 14
Sector (Agriculture) 1 of 1
Type (Add-on Acquisition) 6 of 6
State (Kansas) 1 of 1
Country (United States) 14 of 14
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-09 Plimpton & Hills

Meriden, Connecticut, United States

Plimpton & Hills is focused on the distribution of HVAC and Plumbing products across the Northeast. Plimpton & Hills is based in Meriden, Connecticut.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-05 Service Country

United States

Service Country is a platform of residential heating, air conditioning, plumbing, and electrical services companies serving target markets in Southeastern United States.

Buy -
SELLER

Sequel Holdings

Dallas, Texas, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Sequel Holdings LP is a private equity firm specializing in equity investments in profitable middle-market businesses. Sequel focuses primarily on companies in the food, beverage, agribusiness, plastics and other industrial sectors. Sequel Holdings was formed in 2002 and is based in Dallas, Texas.


DEAL STATS #
Overall 3 of 3
Sector (Agriculture) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Kansas) 1 of 1
Country (United States) 3 of 3
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-01 Red Bird

Lexington, North Carolina, United States

Red Bird is a family-owned business that manufactures puffed peppermint candies. It also produces Thinfuls, a line of better-for-you handcrafted popcorn snacks. The company sells its branded products, as well as various private-label candy and popcorn products, across the United States in the mass, dollar, club, drug, and e-commerce channels. Red Bird was formed in 1890 and is based in Lexington, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-09 Uniphase

St. Charles, Illinois, United States

Uniphase is a custom injection molder specializing in developing tooling and precision molding of engineered plastic products for end markets including the industrial, consumer packaging, agricultural, and medical device markets, among others. Uniphase was founded in 2004 and is based in St. Charles, Illinois.

Buy -