Acquisition of leading data solutions provider to agriculture and animal health sectors builds on LLCP’s experience in tech-enabled business services
LOS ANGELES–(BUSINESS WIRE)–Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that it has acquired AGDATA (the “Company”), a leading provider of mission-critical workflow and data solutions within the agribusiness and animal health sectors, from Vista Equity Partners. Financial terms of the transaction were not disclosed.
Founded in 1985 and headquartered in Charlotte, North Carolina, AGDATA is a full-service, data-centric solutions provider. The Company’s data-driven solutions grant its customers greater supply chain visibility and tools to make informed inventory management, sales, and marketing decisions. AGDATA also provides turnkey rebate program management solutions for its customers.
Heffy Provost, CEO of AGDATA, will continue to lead the company, together with the current management team.
Josh Kaufman, Senior Managing Director at LLCP, said, “We are pleased to partner with Heffy and the AGDATA team to provide the highest-quality data and analytics to the agriculture and animal health sectors. AGDATA serves attractive end markets that benefit from macro tailwinds including population growth, a growing need for crop efficiency, and increased spending on food and pets. We are excited to capitalize on these favorable tailwinds to build on AGDATA’s market leadership position.”
Mr. Provost said, “LLCP’s investment is an important milestone in our journey to cement AGDATA’s position as a market leader. LLCP brings deep partnership experience within the tech-enabled business services sector and has a long track record of supporting management teams of companies with significant growth potential. We believe that our new partnership will enable the continued development and expansion of AGDATA’s suite of valued, high-quality data services that we provide to our customers.”
AGDATA is the second platform investment of LLCP Lower Middle Market Fund III, L.P. LLCP has invested extensively in the tech-enabled business services sector across its funds, including companies such as BigHand, Law Business Research, Prime Global, and Therapeutic Research Center.
Honigman LLP served as legal counsel to LLCP on the transaction.
AGDATA was advised by Raymond James & Associates, Inc. and Kirkland & Ellis LLP.
About Levine Leichtman Capital Partners
Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 39-year track record of investing across various targeted sectors, including franchising, business services, education and engineered products. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies. This unique structure can provide a less dilutive solution for management teams and entrepreneurs, while delivering growth and income with a significantly lower risk profile.
LLCP’s global team of dedicated investment professionals is led by nine partners who have worked at LLCP for an average of 19 years. Since inception, LLCP has managed approximately $13.1 billion of institutional capital across 15 investment funds and has invested in over 100 portfolio companies. LLCP currently manages $8.4 billion of assets and has offices in Los Angeles, New York, Chicago, Charlotte, Miami, London, Stockholm, The Hague and Frankfurt.
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