Midwestern BioAg Announces Change in Ownership, Appointment of New CEO

Rhea-AI Summary

Midwestern BioAg Holdings announced the acquisition of Midwestern BioAg Inc. on September 9, 2020, providing significant capital infusion to bolster operations in sustainable agriculture. Michael Birger, previously with Compass, has been appointed as President and CEO. With over 20 years of experience in mergers, his leadership aims to enhance customer success and employee well-being. The company focuses on soil-centric management systems to improve crop yields sustainably. This strategic move is poised to shift farming practices positively while driving growth in the agriculture sector.

Positive

• Michael Birger's extensive experience in mergers and acquisitions may lead to strategic growth.
• The capital infusion is expected to enhance operational capabilities and expand the company's reach in sustainable agriculture.

Negative

• Concerns may arise regarding continuity in leadership as Birger transitions into the CEO role.
• The success of the new strategic direction is uncertain and depends on the integration of new investments and management.

BLUE MOUNDS, Wis., Sept. 9, 2020 /PRNewswire/ -- Midwestern BioAg Holdings LLC ("MBA"), a special purpose acquisition vehicle formed by Skyline Global Partners LLC, announced Wednesday, September 9th, that it has acquired and provided significant additional capital to Midwestern BioAg Inc., a leader in sustainable and innovative biological agriculture. Michael Birger has been appointed as President and Chief Executive Officer for MBA. "We are committed to building on the 30-year history of the company to enhance sustainable success of our customers and the well-being of our employees," said Birger.

Previously, Birger worked as Vice President of Strategy and Corporate Development for Compass (NYSE: CMP), where he drove strategic growth and increased value through sourcing and structuring corporate investments in agriculture both domestically and internationally. Birger brings over 20 years of experience involving mergers, acquisition, divestitures and management of operating businesses and joint ventures. Business culture and staff engagement are at the core of his successful business leadership for driving strategic growth with meaningful outcomes.

"As an active investor in sustainable food/agriculture and Agtech, we were excited to partner with Michael Birger and the rest of the team as part of our commitment to Midwestern BioAg Holdings.  We firmly believe in the vision and opportunities that lie ahead for outcome-based crop production," said Sachin Gupta, Partner with Skyline Global Partners.

Midwestern BioAg was founded in 1983 and its headquarters is located in Blue Mounds, WI. MBA works with both organic and conventional farms to improve crop yields, sustainably and profitably through a comprehensive, soil-centric, whole-farm management system. 

"Our commitment to the success of our growers is stronger than ever. With the backing of our new owners and the dedication of our employees, we are prepared and poised for growth. I am humbled and excited to lead our team of experienced leaders and their partners in Wisconsin, Michigan, Ohio, Illinois, Iowa, Minnesota, and Indiana. Together we will continue to change farming practices with our proven biological approach, which will preserve soil health for generations to come," said Birger.

MBA's offering of field-proven products feed a balanced mineral diet to the soil and crop which stimulates soil life and enhances nutrient-use efficiency.  Their products and approach address a farm's yield-limiting factors with balanced fertilizer blends that go beyond NPK to include calcium, sulfur and micronutrients, such as boron, magnesium and manganese. To learn more about Midwestern BioAg, visit www.MidwesternBioAg.com or www.Facebook.com/MidwesternBioAg.

About Skyline Global Partners:

Skyline Global Partners LLC (www.skylinegp.com) is a private equity firm based in Chicago, Illinois, focusing on buyouts and growth equity investments in the United States and Canada. Skyline targets companies in the food/agriculture, manufacturing, business services, and consumer product sectors.

View original content:http://www.prnewswire.com/news-releases/midwestern-bioag-announces-change-in-ownership-appointment-of-new-ceo-301127013.html

SOURCE Midwestern BioAg Holdings LLC

FAQ

What is the significance of Midwestern BioAg's acquisition on September 9, 2020?

The acquisition aims to provide significant capital for enhancing operations in sustainable agriculture.

Who has been appointed as the new CEO of Midwestern BioAg Holdings?

Michael Birger has been appointed as President and CEO of Midwestern BioAg Holdings.

What experience does Michael Birger bring to Midwestern BioAg Holdings?

Birger has over 20 years of experience in mergers, acquisitions, and corporate development, previously serving as Vice President of Strategy at Compass.

How will the leadership change impact Midwestern BioAg's operations?

The leadership change may bring new perspectives and strategic growth opportunities, but it also raises concerns about continuity.

What are Midwestern BioAg's strategies for improving crop yields?

The company focuses on a soil-centric whole-farm management system that enhances nutrient-use efficiency and addresses yield-limiting factors.