LEWISVILLE, Texas, August 21 –Ever.Ag, a global agri-food technology leader, today announced that it has completed the sale of its Risk Management business to funds managed by Stone Point Capital (“Stone Point”), a leading alternative investment firm focused on the global financial services industry and related sectors. As a result of the transaction, the Risk Management business will operate as an independent company under the leadership of its current management team and will transition to a new brand.
Ever.Ag’s Risk Management business is a leading provider of risk management solutions to the global agricultural industry. Leveraging its proprietary technology and insights platform, the Risk Management business helps agricultural producers, processors, cooperatives, manufacturers and other businesses manage their commodity risk through a combination of insurance, advisory and derivatives brokerage services. Its integrated solutions are mission-critical to customers across the dairy, swine, cattle and grain sectors as they navigate an increasingly complex and evolving risk environment. The transaction positions the business to accelerate its long-term growth strategy through continued investment in its people, technology, and service offerings.
For Ever.Ag, the transaction enables the company to further its strategic focus on delivering software, AI solutions and tech-enabled services to clients and customers that power the agricultural supply chain. Ever.Ag and the Risk Management business expect to maintain a strong commercial relationship following the transaction, reflecting their longstanding collaboration and complementary capabilities in serving customers across the agricultural ecosystem.
“Our mission has always been to help our producer and commercial clients navigate risk with knowledge and confidence,” stated Pete Turk, co-founder and Executive Chairman of the Risk Management business. “As our customers face increasingly complex market dynamics and risk exposures, the need for trusted, technology-enabled risk management solutions has never been greater. Stone Point brings the experience, resources, and long-term perspective to help us accelerate our strategy and continue delivering the comprehensive risk management solutions and market insights our customers and partners depend on.”
“We are incredibly proud of the success we’ve achieved together with the Risk Management team over the years,” said Stephen Davis, Chairman of the Board, Ever.Ag. “We have built an exceptional company and are excited to see it continue to build alongside Stone Point in this next chapter.”
“Ever.Ag’s Risk Management business has all the attributes we look for in a market leader: a talented and aligned management team, differentiated capabilities, deep domain expertise, long-standing customer relationships and a mission-driven culture,” said Chuck Davis, Chairman and Co-CEO of Stone Point. “The business also sits at the intersection of insurance, brokerage, technology and advisory services, areas where we have invested for more than three decades. We see meaningful opportunities to build on that impressive foundation and are excited to partner with the management team as they continue delivering critical solutions to their clients in this next phase of growth.”
William Blair served as financial advisor and Orrick, Herrington & Sutcliffe LLP served as legal counsel to Ever.Ag. Sidley Austin LLP served as legal counsel to Stone Point.