Oct. 24, 2024
Bridgepoint, a leading private asset growth investor, has announced today its partnership with Meristem, a leader in the agricultural solutions market. The transaction closed in October 2024 and financial terms were not disclosed.
Established in 2018, Meristem is one of the fastest-growing crop input companies in North America. Focused primarily on biologicals, the company sources, formulates, licenses, and delivers high-quality crop inputs to farmers, helping them produce more bushels for less cost per bushel. Meristem's solutions are highly cost-effective and eliminate significant inefficiencies in the supply chain compared to more traditional go-to-market approaches.
Today, Meristem employs c.60 people and serves more than 10 million acres of corn, soybean and other crops. It's innovative and patent-protected technology accelerates farmers access to new biologicals, lacking in the US market. Meristem delivers a tailored portfolio strategy focused on meeting farmers' specific needs.
Bridgepoint's new partnership with Meristem builds on the firm's strong track record of backing companies in the agricultural solutions sector, including SunWorld, an innovative global fruit genetics platform, and Rovensa, a global leader in R&D-led biological solutions for growers.
Leveraging its deep sector expertise, local office network and industry contacts, Bridgepoint will support Meristem to expand internationally, drawing on Rovensa's presence in Latin America and Europe. Meristem will also focus on the introduction of new product combinations including a targeted offering to address region-specific climate and soil conditions, further expand its customer base of dealers and farmers and enhance IP development capabilities.
Mitch Eviston, Founder and CEO of Meristem, said:
"Our partnership with Bridgepoint marks a significant milestone in our short history. Since our establishment in 2018, Meristem has rapidly scaled to become a leading crop input provider in the US. Our mission has always been to support farmers by providing high-quality, cost-effective solutions that deliver more bushels for less cost per bushel. Partnering with Bridgepoint allows us to further this mission by leveraging their sector expertise and extensive industry network. With their strategic support, we are confident in our ability to continue delivering innovative solutions to crop producers in the US and around the world."
Rupprecht Pranckh, Partner, at Bridgepoint, said:
"We are thrilled to partner with Mitch Eviston and the experienced leadership team at Meristem. With its unique focus on biologicals, alternative market channel access and patented technology, Meristem has huge growth potential both in the US and internationally, as farmers recognize the substantial economic benefits of Meristem's product portfolio. We look forward to utilizing our sector experience and global network in agriculture to help accelerate Meristem's growth."
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