M&A Deal Summary

Berkshire Partners Acquires FoodChain ID

On December 9, 2020, private equity firm Berkshire Partners acquired test/measurement equipment company FoodChain ID from Paine Schwartz Partners

Acquisition Highlights
  • This is Berkshire Partners’ 2nd transaction in the Test/Measurement Equipment sector.
  • This is Berkshire Partners’ 76th transaction in the United States.
  • This is Berkshire Partners’ 2nd transaction in Iowa.

M&A Deal Summary

Date 2020-12-09
Target FoodChain ID
Sector Test/Measurement Equipment
Buyer(s) Berkshire Partners
Sellers(s) Paine Schwartz Partners
Deal Type Recapitalization
Advisor(s) Houlihan Lokey (Financial)
Morrison & Foerster (Legal)

Target

FoodChain ID

Fairfield, Iowa, United States
FoodChain ID is a provider of analytic testing, third-party certification, and consulting services to the agriculture and food industries. The company’s products are used for the testing of food and agricultural products to detect genetically modified organisms (GMOs) and to ensure compliance with national and international government regulations, client and trading partner demands, and consumer information needs. FoodChain ID was founded in 1996 and is based in Fairfield, Iowa.

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Buyer(S) 1

Buyer

Berkshire Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Berkshire Partners is a private equity firm focused on investing in businesses with strong management and that lead their respective markets. Berkshire will consider investments in both public and private companies. Prospective transactions for private companies include leveraged buyouts, recapitalizations, growth capital financings, and privatizations. Public company transactions include take-privates, PIPEs, and equity stakes. Berkshire generally looks to invest $150 to $500 million of equity capital per transaction in companies valued up to $2 billion. Sectors of interest include industrial manufacturing, consumer products, retailing, transportation, communications and business services. Berkshire Partners was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 87 of 100
Sector (Test/Measurement Equipment) 2 of 2
Type (Recapitalization) 22 of 23
State (Iowa) 2 of 3
Country (United States) 76 of 88
Year (2020) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-19 Vital Care

Brentwood, Tennessee, United States

Vital Care is a franchisor of home infusion services. Vital Care serves the medical needs of a wide range of patients, including those with chronic and acute conditions. Home infusion therapy involves the intravenous or subcutaneous administration of drugs or biologicals to patients at home. Vital Care was founded in 1986 and is based in Brentwood, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-05 NCS

Grimes, Iowa, United States

NCS is a full-service fluids and systems provider to the vehicle care industry, including car wash systems, aftermarket parts, cleaning fluids, and vacuums all supported through its industry-leading distribution and services footprint. NCS was founded in 1973 and is based in Grimes, Iowa.

Buy -

Seller(S) 1

SELLER

Paine Schwartz Partners

San Mateo, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 6.5B USD
Size Mega
Type Sector Focused
DESCRIPTION

Paine Schwartz Partners is a private equity firm specializing in sustainable food chain investing. The Firm targets control investments in the food and agriculture sectors and will consider opportunities globally. Paine Schwartz Partners was formerly known as Paine & Partners - and before that was part of Fox Paine & Co. Paine Schwartz Partners has offices in San Mateo, California and New York City.


DEAL STATS #
Overall 24 of 30
Sector (Test/Measurement Equipment) 1 of 1
Type (Recapitalization) 2 of 2
State (Iowa) 1 of 1
Country (United States) 15 of 17
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-08 UrbanFarmer

Manteno, Illinois, United States

UrbanFarmer is a plant-based specialty dough contract manufacturer. Urban Farmer exclusively uses plant-based ingredients to manufacture a differentiated and growing portfolio of specialty dough products including pizza crusts, topped pizzas, flatbreads, breadsticks, cheese bread, tortillas, empanadas, and sandwich buns. UrbanFarmer was founded in 2015 and is based in Manteno, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-14 Rivulis

Gvat, Israel

Rivulis is a provider of drip irrigation solutions for agricultural applications. Rivulis is based in Gvat, Israel.

Sell -