A blossoming combination - Smith & Williamson Corporate Finance advises Icepage Limited (“Floranova”) on its sale to Syngenta AG (“Syngenta”)
Floranova is a respected specialist breeder of flower and home garden vegetable seeds with a broad portfolio and customers in over 50 countries. The company uses traditional breeding methods to develop niche, high-margin products serving end-users in the professional bedding, pot plant and ornamental sectors.
With the support of the Oaklins member firm in the Netherlands, we worked with the directors and the shareholders of Floranova to conduct an international search for a strategic buyer. Syngenta, with more than 2,300 employees in the flowers business, has acquired Floranova to help support its continued growth and enhance its flowers business in fast growing Asian markets, like China and India.
Brian Livingston, our Head of M&A for Corporate Finance, led the transaction assisted by Stuart Goodman and Zach Francis, working closely with the specialist horticulture team at Oaklins Netherlands.
Jeff Colegrave, Chairman of Floranova, said “It was a complex transaction that wouldn’t have been possible without the invaluable advice of Brian and the team at Smith & Williamson. I have been a client of Smith & Williamson for a number of years and they have always provided a joined-up approach across corporate finance, investment management and the wider business services teams. Along with their invaluable international reach and subsector expertise through Oaklins, they have been able to demonstrate a holistic approach most professional services firms strive to deliver. I don’t think we could possibly have been in better hands and I am looking forward to remaining part of the Smith & Williamson family.”
Brian Livingston, our Head of M&A for Corporate Finance, said “We were delighted to have been able to deliver a transaction for the shareholders that recognises their hard work over the last 10 years and brings even more opportunities for the future of the business. We are thrilled Jeff chose to continue his journey with S&W and look forward to continuing to work with him in the future.”
By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.
Note to editors
Smith & Williamson is an independently owned professional and financial services group with over 1,700 people. The group is a leading provider of investment management, financial advisory and accountancy services to private clients, professional practices and mid-to-large corporates. The group has twelve offices; these are in London, Belfast, Birmingham, Bristol, Cheltenham, Dublin (City and Sandyford), Glasgow, Guildford, Jersey, Salisbury and Southampton.
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