WAYNE, PA — Inverness Graham Green Light, through its Florida-based portfolio company Custom Agronomics (“Custom Ag”), recently announced the acquisition of Clinton, NC-based BioTek Ag (“BioTek”), marking a significant expansion in Custom Ag’s offerings of liquid plant nutrients and agricultural products aimed at enhancing yield and soil health. This move not only broadens Custom Ag’s product range but also extends its market presence into the Midwest and Southeast U.S., reinforcing its position in the agricultural sector.
Paul Nolen, Managing Principal at Inverness Graham, expressed enthusiasm about the acquisition, emphasizing the growth opportunities it presents for the combined entities. “The acquisition of BioTek is an exciting opportunity for the combined business,” Nolen said. He highlighted the benefits, including enhanced formulation expertise, an expanded portfolio for a broader customer base, and the addition of valuable team members. Nolen also noted Inverness Graham’s commitment to supporting further strategic acquisitions and organic growth initiatives to boost the platform’s overall development.
Tom Snipes, CEO of Custom Ag, underscored the strategic significance of incorporating BioTek into their operations. “BioTek strengthens our nutrient use efficiency product offering as well as talent on our team,” Snipes remarked. He pointed out the advantages of offering an expanded private label solution to both existing and new customers, signaling a positive trajectory for the business’s future.
BioTek’s Founders, Jim Wendling and Kim Tart, expressed confidence in Custom Agronomics as the right partner for BioTek’s continued growth. They highlighted the shared commitment to delivering exceptional products and services through a private label model and the cultural synergy between the two companies. “The capabilities of the combined platform will allow us to better service our customers and pursue new opportunities,” they stated.
This acquisition is part of Inverness Graham’s Green Light strategy, with Custom Ag being the second of three active portfolio companies under this initiative. The strategy focuses on investing in businesses that offer high-quality products that enhance yield and promote environmental sustainability in the agriculture and turf markets. Inverness Graham and Custom Ag are actively exploring further acquisitions to strengthen their market position and contribute to sustainable agricultural practices.
The transaction’s terms were not disclosed, but the deal represents a strategic step forward in consolidating Custom Ag’s leadership in the agricultural products sector, particularly in areas of nutrient use efficiency and environmental sustainability. As the agricultural industry continues to evolve, with increasing emphasis on sustainable practices and efficient resource use, such acquisitions play a crucial role in driving innovation and meeting the growing demands of farmers and agricultural businesses for more environmentally friendly solutions.
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