United Agri Products, a supplier and distributor of agrochemicals to farmers and growers across the UK, has undergone a management buyout for an undisclosed sum.
The company has depots across the UK including two in the Midlands in Telford and Bourton-on-the-Water
Advising the MBO team was Clearwater Corporate Finance with funding provided by Lloyds TSB Commercial Finance.
Previously part of the USbased ConAgra Foods group, the £80 million turnover business provides a crop management advice service to farmers and growers.
It is also acquiring Frenchbased Phyto Service which together with UAP made up ConAgra's European agrochemical supply operations.
Based in Alconbury, Cambridgeshire, UAP supplies a range of agrochemicals and crop management products. It also has a contract spraying service - one of the largest of its kind with 14 units across the UK.
The company employs 250 people and also has seven mobile seed treating units operating nationally.
Based in Blois, Phyto Service is a £25 million turnover business operating 18 depots and stores. The company has over 12,000 customers, who complete 50,000 transactions per year.
The Clearwater team of Paul Newell and Dan Bowtell originated the deal.
Funding it is the Midlands office of Lloyds TSB Commercial Finance.