Cytozyme Laboratories, Inc.

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Cytozyme Laboratories, Inc. Logo has been acquired by Verdesian Life Sciences Logo

Overview

  • Cytozyme Laboratories, Inc. (“Cytozyme” or the “Company”) is a world leading provider of agricultural nutritional products that ensure optimal food production, grower profitability, and environmental health. The Company has a global presence, helping farmers worldwide achieve successful yields and produce the best crops and harvests
  • The Company was founded in 1975 by Steven Baughman in Salt Lake City, Utah. In 1995, Eric Baughman, joined the Company and succeeded his father Steven as CEO in 200

Situation

  • In early 2020, CEO Eric Baughman began looking into a sale of Cytozyme after previously undergoing a sell-side process with another advisor in 2015 that did not result in a transaction
  • Cytozyme’s proven technology, intellectual property, and demonstrated and articulated ROI for customers have placed the Company at an inflection point for growth
  • Eric and leadership believed that the right partner with a strong sales and marketing team would provide the necessary leverage to fully unpack key growth initiatives for the Company

Our Specialized Approach

  • In February 2020, Cascadia Capital was hired as the exclusive advisor to run a process to find an acquirer for Cytozyme
  • In coordination with the client, Cascadia identified a narrow buyer pool of 14 counterparties, which consisted of a mix of strategic and private equity acquirers
  • During the outreach conversations, Verdesian Life Sciences, a portfolio company of AEA Investors, emerged as the top candidate, submitting an LOI that was most attractive to the client due to proposed deal structure, valuation, and the sales and marketing synergies that Cytozyme would benefit from
  • Cascadia supported Cytozyme in marketing, diligence, and negotiations to successfully complete a double-digit EBITDA multiple transaction to Verdesian for the Company
    Through industry knowledge and expertise, Cascadia helped Cytozyme navigate a second try at a sellside process, which resulted in a successful transaction for the Company
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