Clearwater advises agricultural deal
Clearwater Corporate Finance's Birmingham team has advised on the sale of a Dublin-based crop protection chemicals developer to agricultural chemicals manufacturer Mitsui Agriscience International (MASI).
The deal is Clearwater’s eighth in the chemicals sector since January 2008.
Belgium-based Mitsui bought Dublin’s AgriGuard for an undisclosed fee.
MASI, a subsidiary of the Japanese-headquartered Mitsui & Co, said that Agriguard’s understanding of the registration process for crop chemicals in the European Union (EU) makes it a particularly attractive target.
The acquisition will include the transfer of AgriGuard’s staff, intellectual property and full product range.
Philip Nuttall, partner at Clearwater, led the deal team and described the acquisition as “a good fit for both parties”. He was supported by senior chemicals analyst Constantine Biller and director Jon Mercer. Clearwater undertook an international search and selection process, identifying MASI as the most appropriate buyer for AgriGuard based on its long term goals in Europe and its existing portfolio of products.
Nuttall said: "MASI can now boost its business on the continent by marketing AgriGuard’s crop protection chemicals through its existing European distribution channels.”
Constantine Biller, of Clearwater, added: “Multinational chemicals companies, primarily based in Asia and North America, are increasingly looking to Europe for growth, consolidating the global market.
“This deal follows the pattern, with MASI looking to improve its European crop chemicals offering via the acquisition of a business with proven knowledge of EU regulations and legislation.”
