Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to Tillridge Global Agribusiness Partners (“Tillridge”) on its exit of portfolio company Novus Ag, an innovative ag retail platform, to Aqua Capital, an agriculture-focused private equity investor based in Brazil.
Following rapid consolidation in the ag retail industry, the current market structure has failed to satisfy the needs of the industry’s two primary stakeholders: local store operators and farmers. Novus Ag developed a unique platform which attracts the industry’s best talent, while providing farmers with an optimal mix of local expertise and national scale. Novus Ag has integrated 30+ owner-operators across 50+ retail locations to its network, serving farmers across the United States with crop protection, fertilizer, and seed treatment products coupled with application and agronomy services.
“I am honored to represent Novus Ag and Tillridge on this transaction,” added Scott Porter, Cascadia Capital Managing Director. “Novus Ag is a first-of-its-kind platform in agriculture with an incredible growth opportunity and led by a highly experienced management team. The Agriculture Input sector broadly continues to be a core area of focus for our practice.”
“The broader retail environment serving rural and agricultural communities throughout the United States continues to evolve and Novus Ag’s entrepreneurial owner-operator model is a clear example of the positive economic impact and success that this industry has on the communities it serves,” said James Cartales, Cascadia Managing Director.
This acquisition represents another successful transaction in the Agribusiness and Rural Retail practices for Cascadia and a continued demonstration of its experience in agriculture inputs and production agriculture.
Cascadia’s Agribusiness practice is one of the largest and most active in North America. Recent transactions include:
Recent Rural Retail transactions include Three Bears Alaska’s recapitalization with Westward Partners and C-A-L Ranch’s merger with Coastal Farm & Ranch.
For more information about this transaction please contact the Cascadia deal team members listed below.
Or other senior members of the Cascadia Food, Beverage & Agribusiness team: