Paine & Partners agrees to buy Global ID

Global private equity investment firm Paine & Partners has entered an agreement to acquire Global ID, a US-based provider of food safety and quality solutions.

Neither company has not divulged the financial terms of the transaction.

Based in Fairfield, Iowa, Global ID has more than 15,000 blue-chip customers across over 100 countries.

Global ID chief executive officer Ken Ross said: “Since our founding, Global ID has been at the forefront of the rapidly evolving and demanding food safety industry.

“As we look toward the future, we see significant opportunities for us to build on our strong foundation, as demand for food safety and quality continues to increase.

“In Paine & Partners, we have a partner whose experience in the agribusiness industry and resources can help us achieve our growth plans as we enter the next phase of our development.

“We thank our employees for their continued hard work and commitment to providing our customers with the world class testing and certification services they expect from us.”

Global ID is comprised three complementary segments such as Genetic ID, CERT ID, and FoodChain ID, which collectively provide a comprehensive suite of food testing, food certification and supply chain compliance software and service solutions.

Upon completion of the deal, the existing Global ID team will continue to manage operations.