Acquisition underscores company’s growth strategy involving organic and sustainable agricultural products for professional plant care
Boston, MA -- (ReleaseWire) -- 01/21/2008 -- Downer & Company, an international investment banking firm specializing in middle-market corporate acquisitions and divestitures, is pleased to announce that Novozymes A/S has acquired Philom Bios, Inc., of Canada, through its wholly-owned subsidiary Novozymes Biologicals Holding A/S. Philom Bios, based in Saskatoon, is a world leading inoculants company focused on the development, manufacture and marketing of natural microbial products for commercial agriculture which decrease the amount of chemical fertilizer typically required. Philom Bios is a Canadian public company. The transaction closed on December 10, 2007 for a total consideration of CAD 25.6m.
This marks the sixth acquisition Downer & Company has completed for Novozymes in the past six years. Previously, Downer & Company advised Novozymes Biologicals on five acquisitions between July 2001 and June 2003 for its developing industrial microorganism business: Sybron Biochemicals in July 2001, George A. Jeffreys in June 2002, InterBio in July 2002, Semco Biosciences, Inc., in January 2003 and the June 2003 purchase of Roots, Inc.
“We are proud to continue to assist Novozymes with the research and execution of strategic acquisitions more than seven years after our partnership first began,” said Joseph Downing, Managing Director with Downer & Co. “We continue to scour the globe, seeking the perfect acquisition—or series of acquisitions—which will enable our clients to grow and prosper.”
“We are committed to establishing Novozymes as a leader in the sustainable agriculture industry, providing earth-friendly alternatives to traditional pesticides and fertilizers,” Novozymes Biologicals’ President Ted Melnik said in a company statement. “This merger reinforces that commitment.” Philom Bios will become the cornerstone of Novozymes’ new BioAgriculture business and will continue to operate out of Saskatoon, Canada. Novozymes Biologicals is headquartered in Salem, Virgina.
Novozymes is the world leader in bio-innovation. Together with customers across a broad array of industries, Novozymes creates tomorrow’s industrial bio-solutions, improving its customers' business and the use of our planet's resources. With over 700 products used in 130 countries, Novozymes’ bio-innovations improve industrial performance and safeguard the world’s resources by offering superior and sustainable solutions for tomorrow’s ever-changing marketplace. For further company information, visit http://www.novozymes.com
About Philom Bios, Inc.
Philom Bios is a world leading inoculant company with over 70 employees across North America in research, manufacturing, marketing and management and in its joint-venture operations in Australia. Headquartered in Saskatoon, SK, Philom Bios is a Canadian public company serving the needs of farmers with high-value inoculants. For over 25 years, Philom Bios has been committed to farmers through a dynamic partnership with distributors and leading retailers. Read more at http://www.philombios.ca
About Downer & Company
Downer & Co. is an independent, global investment bank offering its clients a high level of personal attention coupled with more than 30 years of international execution experience. With offices in five (5) countries and on three (3) continents, we have the unique ability to consistently identify the most appropriate buyers worldwide and to uncover “hidden” acquisition targets. Downer & Co. combines the global reach of a bulge-bracket investment bank with the personal touch of a boutique. For further information, visit hhtp://www.downer.com.