Rebranded Grain & Protein Applied sciences, the fresh standalone entity can be led by way of achieved business production chief Jacob Thomas
NEW YORK and DULUTH, Ga., Nov. 1, 2024 /PRNewswire/ — American Business Companions (“AIP”), an industrials investor, as of late introduced the of completion of its acquisition of AGCO Company’s (NYSE: AGCO) Grain & Protein section, which produces grain attic and seed processing answers in addition to feeding, watering, circumstance control and keep an eye on programs for international protein manufacturing, basically poultry, swine, and egg. Together with the transaction near, it was once introduced that the fresh standalone, privately held industry will now perform underneath the identify Grain & Protein Applied sciences (“the Company”) with Jacob Thomas serving as CEO.
Serving shoppers in over 100 nations international, Grain & Protein Applied sciences employs greater than 3,200 society throughout its 14 production amenities in North The united states, Brazil, Europe, and Malaysia, producing an annual earnings of roughly $1 billion. The Corporate will proceed to perform its sturdy portfolio of manufacturers – GSI, Cumberland, AP, Tecno and Cimbria – which can be trade leaders in apparatus for grain, seed, poultry, egg, and swine manufacturing.
Jacob Thomas joins Grain & Protein Applied sciences from The Carlstar Staff (“Carlstar”), the well-known provider of uniqueness tires and wheels, the place he served as CEO and member of the corporate’s board. All over his tenure at Carlstar, a former AIP portfolio corporate, Thomas effectively led the group’s transformation and sale. Previous to Carlstar, Thomas served in govt management positions at Clarcor, IDEX Company and the Terex Company.
“I am delighted to be partnering with AIP again, and whole-heartedly believe in the potential for value creation of this great group of businesses that have an important purpose of Feeding the World Better,” stated Jacob Thomas, CEO of Grain & Protein Applied sciences. “I have been immersed across the enterprise over the last twelve weeks, and I am impressed with the level of talent and commitment. We will emphasize advancing smart technologies and offering innovative technical solutions to our customers to make them more productive and profitable in a sustainable way.”
Eric Baroyan, Spouse at AIP, added, “Grain & Protein Technologies is a critically important business to the future of the global food supply. With decades of industrial manufacturing expertise and a track record of success building large-scale, global operations, Jacob is the right leader for the Company to ensure it fully capitalizes on its unique market position as the go-to partner for large-scale agriculture worldwide.”
Sidley Austin LLP served as prison recommend to AIP. Morgan Stanley & Co. LLC and Rabo Securities USA, Inc. served as monetary advisors to AGCO. Santander US Capital Markets LLC served as monetary marketing consultant to AIP and its associate led the totally dedicated debt financing. Simpson Thacher & Bartlett LLP served as prison marketing consultant to AGCO.
About American Business Companions
American Business Companions (“AIP”) is an industrials investor, with roughly $16 billion in property underneath control. AIP is distinctively excited by business companies throughout a vast territory of finish markets that come with: aerospace and protection, car, construction merchandise, capital items, chemical substances, business services and products, business generation, logistics, metals & mining, and transportation, amongst others. AIP appears to be like to generate differentiated returns by way of making an investment in feature business companies with sturdy control groups and dealing with the ones groups to enforce complete working agendas to form long-term worth. Flow AIP portfolio firms generate mixture annual revenues of roughly $25 billion and make use of roughly 65,000 workers as of June 30, 2024. www.americanindustrial.com
About AGCO
AGCO (NYSE: AGCO) is a world chief within the design, build and distribution of agricultural equipment and precision ag generation. AGCO delivers worth to farmers and OEM shoppers thru its differentiated logo portfolio together with core manufacturers like Fendt®, GSI®, Massey Ferguson®, PTx and Valtra®. AGCO’s complete layout of kit, mischievous farming answers and services and products is helping farmers sustainably feed our international. Based in 1990 and headquartered in Duluth, Georgia, USA, AGCO had web gross sales of roughly $14.4 billion in 2023. For more info, seek advice from www.agcocorp.com. For corporate information, knowledge, and occasions, please apply us on X: @AGCOCorp. For monetary information on X, please apply the hashtag #AGCOIR.
Contacts:
Media Inquiries: American Business Companions – [email protected]
Media inquiries: AGCO – Rachel Potts, V.P., Well-known Communications Officer; 678-654-7719; [email protected]
Investor inquiries: AGCO – Greg Peterson, V.P. Investor Members of the family; 770-232-8229; [email protected]
SOURCE American Business Companions
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