Global agricultural and animal health market research specialist Kynetec has a new investment fund owner – Paine Schwartz Partners based in the US has bought the business from the UK private equity fund Inflexion.
Paine Schwartz says the move builds on its track record of investing in data-driven food and agribusiness companies. Previous investments include Advanced Agrilytics, AgroFresh Solutions and FoodChain ID.
Kynetec, based in Newbury, England and St. Louis, Missouri, Kynetec has over 400 customers across 80 countries. Last year saw a significant company expansion through the acquisition of Germany-based Kleffmann Group. It says that debt facilities raised from Ares and Lloyds provide the business with the flexibility to make strategic investments to grow both organically and by acquisition.
“We have made important progress growing Kynetec and are proud of our accomplishments since the company was founded in 2002,” says chief executive Daniel Wirth. “Just over a year ago, we took a meaningful step expanding our footprint and capabilities with the acquisition of the Kleffmann Group.
“With the demand for data and analytics in the agricultural and animal health markets multiplying by the day, we are poised to accelerate our growth. This investment by Paine Schwartz will provide us with the resources to capture opportunities, while bringing us a partner with deep agribusiness experience and expertise. We look forward to working closely with the Paine Schwartz team to continue building out our offerings, capabilities and customer base and extending our leadership in agriculture and animal health market research.”
Managing director of Paine Schwartz Steven Bierschenk adds: “Paine Schwartz is investing in Kynetec at a time when companies across the value chain are increasingly relying on data to implement efficient and sustainable practices. The financing raised through Arrowpoint Advisory (part of Rothschilds) will play a role in fuelling Kynetec’s growth by enabling the company to move into new markets, deepen its offerings, enhance its technology and pursue complementary bolt-on acquisitions.”