Having refinanced its debt, Devenish touts a future exit deal to new equity investors
To complete its conversion from feed manufacturer to green ag-tech solutions provider, Owen Brennan’s group needs more finance – and to attract new investors, it has promised to favour them in a future sale of the business. Will they match the valuation put on the group in recent internal transactions?
After a tough year, Devenish banks on algae-enriched feed and carbon farming to attract equity investment
A destructive fire plunged the Belfast-based agri-tech group into the red in 2020 and triggered a board reshuffle, but growth was slowing before that. To turn R&D into profit, its CEO Richard Kennedy says the group now wants to bring in new shareholders.
Betting the farm: Devenish ploughs resources into deep agritech restructure
The Belfast-based livestock nutrition company is investing massively in its new global research and development centre in Co Meath, where it hopes to produce carbon-neutral beef and dairy by 2025. But the lenders behind a €118m refinancing package are keeping a close watch as its existing business faces the challenges of Brexit and Covid-19. To provide guarantees, Owen Brennan’s group has been reorganising.