Internal growth and acquisitions generate steady growth for 22 years

Becker Underwood of Ames, Iowa, USA, a world leader in biotech specialties for agriculture, seed, landscaping and turf today announced its recent affiliation with Norwest Equity Partners (NEP). NEP is a Private Equity firm located in Minneapolis, Minnesota. This affiliation is a strategic partnership based on long-term Becker Underwood growth plans.

The partnership will advance Becker Underwood’s objectives of continued internal growth, further acquisition, leading edge research, innovative product development and global market expansion. Becker Underwood has increased in size and scope for 22 consecutive years to become one of the world’s largest non-pesticide specialty chemical companies in agricultural and related markets.

Company co-founder and CEO Roger Underwood commented, “Numerous companies have aggressively pursued an equity stake in Becker Underwood over the past few years. Jeff Becker and I have recently decided to partner with a strategic investor. This relationship will continue the company’s further expansion through accelerated internal growth, further acquisitions, entry into new markets and advanced research and product development for the benefit of our customers.”

The transaction will be seamless to customers, employees and suppliers, as Norwest Equity will not be involved in management nor in day-to-day operations, according to Underwood. Roger Underwood, Chairman and CEO; Peter Innes, President; Jeff Becker, Operations, and Bill Fuller, CFO will continue in their executive positions. Employees will see no changes in their jobs, all of which will remain in place. Company headquarters will remain in Ames, Iowa.

“Becker Underwood continues as a vibrant, privately held company,” continued Underwood. “This affiliation brings us closer to our vision of leading our various market segments with a global presence, while providing local support to customers through value-added products and services. Becker Underwood’s core values will remain the same: Focus on Customers, Create Value and Sell Quality.”

Becker Underwood’s domestic and international customers and distributors will benefit from this deal,” said Peter Innes, Company President. “Customers will continue to have excellent products, and our global operations will expand to serve their needs. In addition, distributors will have access to a broad product line and thus, more opportunity for value as Becker Underwood deepens its penetration in existing and new markets.”

“The employees of Becker Underwood will also benefit as the company grows, with increased employment and advancement opportunities,” according to Innes. "The company anticipates adding staff and new positions as it expands markets, completes more acquisitions and expands operations.” “Becker Underwood has tremendous growth opportunities through product development, market expansion and acquisitions,” said Tim DeVries, Managing General Partner of Norwest Equity Partners. “We are excited to be Becker Underwood’s partner and working with them to capitalize upon their growth potential.”

Becker Underwood’s philosophy is to grow through strategic acquisition and market expansion. Becker Underwood has strategically acquired six companies over the past 19 months to remain on the cutting edge of research and provide the latest and best products to its customers. The company’s acquisitions and expanded markets enable Becker Underwood to maintain a diverse line of value-added products. Headquartered in Ames, Iowa, USA, Becker Underwood employs 238 employees globally, with facilities located in Ames, Iowa; Caldwell, Idaho; St. Joseph, Missouri; Saskatoon, Saskatchewan, Canada; Littlehampton, UK; Pinhias, Brazil; Toulouse, France; Buenos Aires, Argentina; and most recently Somersby, Australia.

Becker Underwood’s diverse line of products is sold in 54 countries. The company’s multiple product categories include: seed inoculants, colorants and coatings for seeds, landscape mulch coatings, golf course specialty chemicals, and bio-pesticides.