M&A Deal Summary

AgroFresh Acquires Tessara

On July 19, 2023, AgroFresh acquired manufacturer Tessara from The Carlyle Group

Acquisition Highlights
  • This is AgroFresh’s 1st transaction in the Manufacturing sector.
  • This is AgroFresh’s 1st transaction in South Africa.

M&A Deal Summary

Date 2023-07-19
Target Tessara
Sector Manufacturing
Buyer(s) AgroFresh
Sellers(s) The Carlyle Group
Deal Type Add-on Acquisition

Target

Tessara

Cape Town, South Africa
Tessara is a manufacturer of sulfur dioxide sheets, which are used to preserve fresh produce during export. Its flagship product is Uvasys, a SO2-based sheet, primarily used to protect table grapes against Botrytis infection, which is responsible for almost 50% of all post-harvest agricultural loss. Uvasys also enhances transportation, export and storage of grapes. Tessara was founded in 1985 and is based in Cape Town, South Africa.

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Buyer(S) 1

Buyer

AgroFresh

Philadelphia, Pennsylvania, United States

Category Company
Founded 1994
Sector Chemicals
Employees300
Revenue 166M USD (2021)
DESCRIPTION

AgroFresh is a provider of data-driven specialty chemical solutions aimed at enabling growers and packers of fresh produce to preserve and enhance the freshness, quality, and value of fresh produce and to maximize the percentage of products supplied to the market relative to the amount of produce grown. AgroFresh Solutions was incorporated in 1994 and is based in Philadelphia, Pennsylvania.


DEAL STATS #
Overall 1 of 2
Sector: Manufacturing M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: South Africa M&A 1 of 1
Year: 2023 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-27 Pace International

Wapato, Washington, United States

Pace International is a provider of post-harvest solutions and technologies, equipment, and technical services to maximize efficiencies in packing operations and increase the value of crops being processed. Pace International is based in Wapato, Washington.

Buy -

Seller(S) 1

SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 469 of 488
Sector: Manufacturing M&A 15 of 16
Type: Add-on Acquisition M&A Deals 196 of 202
Country: South Africa M&A 2 of 4
Year: 2023 M&A 10 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-03 NEVERHACK

Guyancourt, France

NEVERHACK is a provider of IT and cybersecurity services. NEVERHACK will serve large private groups and government agencies to provide solutions for their critical security needs and will offer an e-learning platform aimed at upskilling or reskilling IT, network and cyber professionals. NEVERHACK is based in Guyancourt, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-08 Quest Global Services

Singapore , Singapore

Quest Global Services is a global engineering solutions provider with a proven track record of serving the product development & production engineering needs of high technology companies. Quest Global Services was founded in 1997 and is based in Singapore.

Buy -