Jan 22 2019

Sequel Holdings Acquires Star Seed, Inc. - Acquisition Adds New Platform to Sequel’s Portfolio

Sequel Holdings announced today that it has acquired a majority interest in Star Seed, Inc., headquartered in Osborne, Kansas.

Founded in 1920, Star Seed is a leading seed distributor focused on native grasses, wildflowers, forages, cover crops, wheat and other small grains.

As an independent supplier of several national brand name seed varieties and products, Star Seed has broad sourcing capabilities which have enabled it to build a strong position in the conservation market.  The conservation seed market serves a variety of uses, including the Conservation Reserve Program established by the USDA’s Farm Service Agency; wildlife and pollinator habitats; wildfire reclamation; and roadway beautification projects.

Star Seed is also a leading regional player in the market for wheat seed and forage and cover crops.

The transaction includes an investment by a partnership managed by Sequel Holdings; a co-investment by PNC Erieview Capital; and investments by certain members of Star Seed’s management team.

“We are very pleased to add this new platform to our portfolio,” said Michael Crow, Chief Financial Officer of Sequel. “Star Seed has built an impressive business in their specialty niche, with a long history of success and a loyal and diverse customer base.  We look forward to partnering with the Star Seed management team in support of their continued growth as we build upon their strong foundation.”

About Sequel Holdings, L.P.

Sequel Holdings is a Dallas-based private equity firm that specializes in making control equity investments in profitable lower middle market businesses, primarily in the food and beverage, agribusiness and plastics/specialty materials sectors.

About PNC Erieview Capital

PNC Erieview Capital is a Cleveland, Ohio-based investment firm that is currently investing out of a $600 million commitment and managing existing subordinated debt and minority equity investments in approximately 40 platform companies.  With a history dating back to 1979, PNC Erieview Capital has completed 238 platform investments, including 208 with middle market private equity sponsors.  PNC Erieview Capital seeks to invest between $5 million and $50 million of subordinated debt and/or equity co-investment per transaction to finance leveraged buyouts, recapitalizations, and growth opportunities in a wide range of industries.

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