Global ID Group snapped up by private equity firm
Paine & Partners said it had seen an increasing focus on food safety in several of its portfolio companies.
Global ID has 15,000 customers across more than 100 countries. The company is comprised of Genetic ID, CERT ID and FoodChain ID, which provide food testing, certification and supply chain compliance software and services.
Mario Battaglia, managing director, International, of Global ID Group said it was an exciting time for the group and its UK based subsidiaries, Cert ID Europe and Food Chain ID Europe.
"We are a fast growing testing, inspection, certification and technical services business focussed on the AgriFood sector. Paine & Partners are one of the world’s largest investors in the food and agribusiness sector and recognise the expertise and capabilities of the Global ID Group," he said.
“The partnership will see an increased investment in the Global ID Group building on the various successes that have seen Cert ID being awarded the US BRC Food Certification Body of the Year in 2016 as well as large retailers and food manufacturers adopting FoodChain’s innovative supply chain and traceability inSYTE solution.
"Paine & Partners investment will see a continued expansion of Global ID’s activities in assuring the safety, quality, integrity and sustainability of the global food supply chain."
The firm recently secured rights to launch the HorizonScan database, created by Fera Science, in the US.
This was expanded so North American, German, Brazilian and Mexican companies could access the food safety and integrity tracking system.
HorizonScan reports are updated daily and contain over 63,000 incidents from the last 15 years.
Food safety and quality demand increase
Ken Ross, CEO of Global ID, and the company's executive team will continue to lead operations.
Ross said it has been at the forefront of the rapidly evolving food safety industry.
“As we look toward the future, we see significant opportunities for us to build on our strong foundation, as demand for food safety and quality continues to increase,” he said.
“In Paine & Partners, we have a partner whose experience in the agribusiness industry and resources can help us achieve our growth plans as we enter the next phase of our development.”
Portfolio companies include AgBiTech, a producer of biological pest controls; Costa Group, an Australian grower, packer and marketer of fruits and vegetables; Meadow Foods, the UK’s largest independent dairy and Spearhead, a European agricultural producer.
Experience from portfolio companies
Angelos Dassios, partner of Paine & Partners, said it plans to be a strong partner to Global ID.
"We have seen the increasing focus on food safety at several of our portfolio companies first-hand, which led to our team strategically developing a deep understanding of the food safety and testing sector,” he said.
“Given rising consumer awareness, the globalization of the food chain and the increasing complexity of the regulatory environment, we see strong tail winds that will support Global ID's growth as an industry leader.
“We are enthusiastic about partnering with the Global ID management team to achieve their organic growth and acquisition ambitions, and look forward to capturing the opportunities that lay ahead.”
