Key Takeaways
- • Stirling Square Capital Partners' portfolio company Sustainable Agro Solutions (SAS Group) has acquired a majority stake in South African agricultural biotechnology firm Afrikelp, providing an exit for RMB Ventures, according to Africa Private Equity News.
- • Financial terms of the transaction were not disclosed.
- • RMB Ventures led a management buyout of Afrikelp in 2019 and was the company's largest investor before this exit.
- • Afrikelp, founded in 1971, makes seaweed- and plant-based biostimulants used across more than 45 crops and sold in over 55 markets.
- • The deal is Afrikelp's sixth acquisition under Stirling Square's ownership of SAS Group, which Stirling Square acquired a majority stake in during July 2021.
Summary
Stirling Square Capital Partners' portfolio company Sustainable Agro Solutions (SAS Group) has acquired a majority stake in South African agricultural biotechnology company Afrikelp, providing an exit for RMB Ventures, according to Africa Private Equity News. Financial terms were not disclosed. RMB Ventures led a management buyout of Afrikelp in 2019, becoming the company's largest investor.
Founded in 1971, Afrikelp develops seaweed- and plant-based biostimulants derived from kelp harvested off South Africa's coastline. Its products are used across more than 45 crops and distributed in over 55 markets. The acquisition strengthens SAS Group's position in seaweed-based agricultural biosolutions while expanding its international presence, particularly in the US.
Headquartered in Spain, SAS Group operates in more than 100 countries and develops biostimulants, soil improvers and specialist plant nutrition products. Afrikelp represents SAS Group's sixth acquisition under Stirling Square's ownership, following investments in Biovert, Pevesa Agroscience, Aqua do Brasil, Codiagro and Ceres Biotics. Stirling Square acquired a majority stake in SAS Group in July 2021 and has since supported its international expansion through organic investment and acquisitions.
Afrikelp's management team will reportedly reinvest a significant proportion of its proceeds in the combined business, supporting the next phase of growth.
Founded in 1971, Afrikelp develops seaweed- and plant-based biostimulants derived from kelp harvested off South Africa's coastline. Its products are used across more than 45 crops and distributed in over 55 markets. The acquisition strengthens SAS Group's position in seaweed-based agricultural biosolutions while expanding its international presence, particularly in the US.
Headquartered in Spain, SAS Group operates in more than 100 countries and develops biostimulants, soil improvers and specialist plant nutrition products. Afrikelp represents SAS Group's sixth acquisition under Stirling Square's ownership, following investments in Biovert, Pevesa Agroscience, Aqua do Brasil, Codiagro and Ceres Biotics. Stirling Square acquired a majority stake in SAS Group in July 2021 and has since supported its international expansion through organic investment and acquisitions.
Afrikelp's management team will reportedly reinvest a significant proportion of its proceeds in the combined business, supporting the next phase of growth.
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