On June 28, 2021, JBT Corporation (NYSE: JBT) announced the acquisition of Prevenio (fka CMS Technology) in an all-cash transaction for $170 million.
Prevenio is a leading food safety company providing innovative solutions that offer pathogen protection and food safety in the protein and produce markets. Prevenio utilizes proprietary automated processes to deliver tailored solutions during the processing and packaging stages. The Company was founded in 2011 by scientists and engineers determined to create powerful and precise food protection. It is headquartered in Bridgewater, New Jersey with research facilities in Georgia.
WP Global made the investment in September 2016 as part of its food and agriculture strategy. We identified a demand for food safety and the growing need for food companies to protect their brands and lives through safer food processing. Prevenio was an attractive investment opportunity because of its management team and patented technologies. WP Global was active in providing board governance, strategic direction and customer introductions.
About WP Global Partners
WP Global Partners is a private markets firm focused on investing into small to middle market companies via both direct and fund vehicles across both private equity and debt strategies. With decades of experience, the WP Global team has collectively invested $7 billion into over 100 companies directly and into over 400 small to middle market funds.