
Paine & Partners buys Spearhead International
US food and agriculture specialist GP Paine & Partners has acquired eastern European farming group Spearhead International in a management buyout financed by Mezzanine Management.
The deal was supported by a €30m financing package from CEE-focused debt provider Mezzanine Management, through its €200m Accession Mezzanine Capital III vehicle.
Spearhead is Paine & Partners' first foray into the CEE region and the fourth European investment for the GP's fourth vehicle, the $893m Paine & Partners Fund IV.
For Mezzanine Management, the financing follows hot on the heels of the GP's €23.3m mezzanine investment in Latvian car-financing provider Mogo Finance in mid-June.
Company
Spearhead International is a farming group headquartered in Cambridge, England, but with the majority of its operations in central and eastern Europe.
The company has 85,000 hectares of farming operations across Poland, Czech Republic, Romania, Slovakia and the UK, producing grains and oilseeds, potatoes and vegetables, sugar beet, seed crops, milk and livestock.
People
The head of Mezzanine Management's Warsaw office, Przemyslaw Glebocki, was responsible for the deal. William Dexter Paine is the chairperson and CEO of Paine & Partners.
Advisers
Equity – Freshfields (Legal).
Debt – Norton Rose (Legal).
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Czech Republic-headquartered family office is targeting DACH and CEE region deals
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Ex-Rocket Internet leader Bettina Curtze joins Swiss VC firm as partner and CFO
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Estonia-registered VC could bolster LP base with fresh capital from funds-of-funds or pension funds