IdentiGEN – which specialises in DNA-based animal traceability solutions for livestock and aquaculture – has been sold to MSD Animal Health.
In a move announced today, Wednesday, August 5, MML Growth Capital Partners Ireland revealed that MSD Animal Health will acquire 100% of the shareholding in IdentiGEN.
Specific terms of the agreement are not being disclosed, however.
IdentiGEN
Headquartered in Dublin, IdentiGEN was founded by Ciaran Meghen and Ronan Loftus. The company has operating facilities in Europe, the UK and North America.
IdentiGEN’s DNA Traceback platform is in widespread use by major retailers, food-service providers and processors to pro-actively manage the supply chain. MML invested in IdentiGEN in April 2015 acquiring a majority stake and funding the company’s growth strategy.
Food producers, processors and retailers are looking for accurate and complete animal traceability solutions that provide full accountability as well as greater transparency, quality and sustainability for consumers.
‘Realise potential’
Neil McGowan, partner and co-head of investments with MML, said: “In so many respects, the investment in IdentiGEN is a case study of our investment strategy.
“Five years ago, IdentiGEN was a high-quality company, focused on a growth sector, with a strong management team which required investment backing to enable the business to realise its potential.
The team at IdentiGEN has used the investment astutely and has built out the business through pioneering science and technology in food traceability and safety.
Ciaran Meghen said: “MML invested at a pivotal moment for us as we were opening new markets and scaling the business.”
Ronan Loftus added: “We are now excited to be joining MSD Animal Health.
“We look forward to working closely with our new colleagues to build on what has been achieved to date.”