Livingstone cultivates strategic sale for agricultural technology leader

  • Oct 2018
  • Industrial
  • Special Situations
  • US

Livingstone is pleased to announce the sale of substantially all of the assets of Chromatin, Inc. (“Chromatin” or the “Company”) to S&W Seed Company (“S&W”, Nasdaq:SANW).

Chromatin’s assets were acquired by S&W pursuant to a federal receivership sale.  Novo Advisors (“Novo”) served as the court-appointed receiver (the “Receiver”) for Chromatin.  Livingstone served as investment banker for the Receiver. Chromatin is a leading hybrid sorghum seed technology provider focused on the development, performance improvement, production, and distribution of hybrid sorghum seeds.  The Company’s primary operations are in Lubbock, Texas.

“We are proud to have advised Chromatin on a successful transaction and to have found the perfect strategic partner in S&W to support the Company’s continued development and commercialization of its hybrid sorghum seed technology portfolio,” commented Joe Greenwood, Partner at Livingstone.

fter running an expansive global sale process and competitive auction, S&W was selected as the prevailing party.  S&W is a global leader in alfalfa and other seed technology, with significant research and development, production, and distribution capabilities.  S&W’s seed capabilities extend to hybrid sorghum, sunflower, corn, and stevia; selling seed products in over 30 countries globally.

Chromatin is well-positioned to capitalize on our growing pipeline of hybrid sorghum seed technology under S&W’s leadership,” stated Scott Staggenborg, Chromatin’s Vice President of Research & Development. “Our primary goal was to identify a partner to support Chromatin’s next chapter of seed technology development and commercialization.  Livingstone executed a well-managed process while demonstrating a deep knowledge of, and a relentless advocacy for, our business.

Novo Advisors served as court-appointed Receiver. Bryan Cave LLP served as legal counsel to the Receiver. Perkins Coie LLP served as legal counsel to the Company. Cooley LLP served as legal counsel to S&W.

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