TA Associates' Solabia Group buys Algatech

The transaction sees UK-based investment firms Grovepoint Capital and JCA Charitable Foundation sell their stake in Algatech, while Kibbutz Ketura will retain a minority stake.

TA Associates has been a minority investor in family-owned Solabia since 2018, according to the GP's website.

Founded in 1972 and based in Pantin, Solabia is a specialist in biotechnology, fine chemicals and plant extraction technologies, and provides a range of active ingredients used by the cosmetics, pharmaceutical, diagnostic and nutrition industries worldwide.

Company
Algatech, founded in 1998 and based in the Arava desert in southern Israel, in the city of Hod Hasharon, is engaged in the production of microalgae and algae-based products. Algatech has estimated annual revenues of $10.2m and 51 staff, as per Zoominfo. The business currently exports to around 35 countries worldwide.

People
Algatech – Hagai Stadler (CEO).
Solabia Group – Gerard Josset (CEO).
Grovepoint Capital – Bradley Fried (co-founder, partner).
JCA Charitable Foundation – Stephen Waley-Cohen (chairperson).  

Advisers
Company – Yigal Arnon & Co, Peter Sugarman (legal); Mishcon de Reya (legal).

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