The industry received news of a major and unexpected acquisition when FMC Corporation announced on July 11 it has signed a definitive agreement to sell its Global Specialty Solutions business to Envu for a purchase price of $350 million, subject to closing working capital adjustment.
In November 2023, FMC announced plans to explore strategic options for GSS, which includes a line of products that serve a diverse mix of non-crop markets such as golf courses, professional sports stadiums and pest control. As FMC concentrates on innovating products and services for the global crop protection market, GSS no longer has a clear, strategic role in the company’s mid- or longer-term goals, according to a news release.
“Global Specialty Solutions is a profitable business with a strong history of growth. We believe this agreement with Envu will provide the attention and resources it needs to continue thriving,” FMC chairman and CEO Pierre Brondeau says. “With this divestment, FMC can focus solely on its core business.”
Envu, which was acquired by international private equity firm Cinven in 2022, is solely dedicated to the environmental science sector and sees GSS as an opportunity to support its growth strategy while continuing to deliver powerful innovations for customers in professional pest management, turf & ornamentals and more.
“As a focused company that is dedicated to delivering forward-thinking solutions for our customers, we are excited by the prospect of joining forces with the GSS business,” Envu CEO Gilles Galliou says. “We see significant synergies and potential for accelerated innovation from the combination. In addition, as the successful outcome of a carveout transaction ourselves, we believe we are the ideal partner to help GSS through this transition and maximize our collective potential.”
“We are delighted to bring together two highly respected, complementary businesses with a shared focus on delivering seamless customer service and product innovation in the attractive environmental science market,” adds Marco Strizzi, senior principal at Cinven. “We see FMC GSS as a compelling addition to Envu strategically and financially and look forward to continuing to support the combined business’ strong growth trajectory.”
The transaction is expected to close by the end of 2024, subject to regulatory approval and other customary closing conditions. FMC intends to allocate all proceeds from the sale to debt reduction.
Tartan Talks 97
Dave Heatwole spent the first phase of his career helping build and design new golf courses during an 18-year stint with Nicklaus Design. For the past 22 years, he’s sustained a golf course architecture business, Heatwole Golf Design, by helping clubs make steady progress.
Following a discussion about his career journey, which included living in glitzy Monaco, Heatwole used an appearance on the Tartan Talks podcast to offer insight behind the architect’s role as an impartial developer of a master plan.
“You need to help a club, or an owner, really determine and prioritize the difference between what you want and what you need,” Heatwole says. “A lot of times what is needed, the infrastructure, the drainage, irrigation, isn’t as exciting as a bunker renovation. But a lot of times you have to start from the ground up and do the underground work first, and a lot of times that takes patience because that’s some of the most expensive parts of a renovation.”
Being willing to work in phases is another necessity of master-plan work. The majority of the clubs Heatwole helps these days execute calculated enhancements during shoulder seasons, instead of closing the entire course for prolonged stretches. “My busiest season is October through December, once clubs stop having outings and play starts to back off a little bit,” he says.
Fortunately, we caught Heatwole before his busiest months. Visit the Superintendent Radio Network page of popular podcast distribution platforms to hear our conversation.
INDUSTRY BUZZ
PBI-Gordon Companies hired Dr. Jackie Applegate as COO. Applegate will lead the company’s three subsidiaries: PBI-Gordon Corporation, Pegasus Laboratories and PetAg … Nathan Kimmerle has joined Albaugh as North American region vice president of technology. Kimmerle will oversee production and operations at the company’s Missouri facility … Coyote Rock LLC has added longtime superintendent Scott Hickey to the team as a Turf Materials regional sales manager for Alabama, Kentucky and Tennessee … J.R. Simplot Company announced the expansion of its turf and horticulture services into the southwest Florida market. The move will include the opening of a Simplot Turf & Horticulture location in the greater Fort Myers area … Mark Darbon has been appointed chief executive of The R&A and secretary of The Royal and Ancient Golf Club of St Andrews. Darbon will succeed Martin Slumbers in the role leading the governing body and the organization, which runs The Open and AIG Women’s Open with a global membership of more than 2,400 … Otter Creek Golf Course’s Mitchell Eickhoff was honored at the recent Circle K Junior Championship with the American Junior Golf Association’s 2023 Superintendent of the Year Award. Eickhoff’s recognition is one of two 2023 awards for the Circle K Junior Championship, as the event also won the Charitable Giving Award. The championship has earned seven tournament awards in its 12-year history … Syngenta announced two new active ingredients pending EPA registration for use in its Professional Solutions markets. The solutions include Isocycloseram, a broad-spectrum insecticide active ingredient, which will be marketed as PLINAZOLIN technology, and cyclobutrifluram, a nematicide and fungicide AI to be marketed as TYMIRIUM technology. Syngenta also expanded its digital platforms team by hiring longtime turf pros Sally Jones, Noel Popoli and Andrew Fike. … Target Specialty Products launched Turf Fuel MITIGATE, a stress-tolerance product featuring Templar technology.
COURSE NEWS
Hudson National Golf Club unveiled its Fazio Design after a year-long closure for an extensive renovation. The renovation included significant improvements to all 18 greens, bunkers, new grasses and irrigation, and a greater reliance on strategic decision-making. … The Evanston Wilmette Golf Course Association and KemperSports announced the re-brand of Canal Shores to The Evans at Canal Shores. The 100-year-old course will reopen in 2025 with a new 18-hole course. … Audubon International is now the exclusive environmental stewardship partner for golf and resort developer The Cabot Collection. Through the partnership, The Cabot Collection is the first multi-property brand to enroll every golf course and surrounding built environment into Audubon International’s Platinum Signature Sanctuary certification program. … Spanish Peaks Mountain Club opened its new Tom’s 10 — the final golf course designed by World Golf Hall of Famer Tom Weiskopf. The 10-hole par-3 course pays homage to Weiskopf’s favorite holes from around the world. … Applebrook Golf Club in Malvern, Pennsylvania, unveiled its ecologically friendly Brecker Turf Care Center. The center features innovative facilities and amenities designed to prioritize employee comfort, operational efficiency and resource conservation. … Desert Highlands in Scottsdale, Arizona, will begin a $10 million renovation guided by Nicklaus Design beginning in April 2025. The project will include six major components: design enhancements to several holes, greens reconstruction, tee reconstruction, bunker reconstruction, desert de- and re-vegetation, and restoration of the turf found on the tees, fairways and rough. … Concert Golf Partners acquired TPC Jasna Polana in Princeton, New Jersey, following a competitive bid process that included 20 interested parties. The purchase expands Concert Golf’s portfolio to 34 clubs. … The Dunas Course at Terras da Comporta in Portugal recently hosted the inaugural John Deere Trade Invitational, an event designed to showcase turf machinery to an audience of VIP clients from across Europe. Around 50 greenkeepers, superintendents and general managers from leading clubs and resorts visited the acclaimed course near Lisbon for the showcase.
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