Paine & Partners Names Dr. David J. Buckeridge as Partner

NEW YORK, CHICAGO and SAN FRANCISCO, Aug. 3, 2011 /PRNewswire/ -- Paine & Partners named Dr. David J. Buckeridge a Partner. Dr. Buckeridge, who has been working with Paine & Partners as an Operating Director, will continue to focus on new investment opportunities and existing portfolio companies, primarily in the agribusiness sector.  

Dr. Buckeridge has significant operational and management expertise in the agricultural sector.  He served as CEO of Advanta, a Fund II portfolio company and leading agronomic seed business that Paine & Partners purchased in 2005. He also held a number of senior positions during his 20 years at AstraZeneca, a multinational pharmaceutical company, including five years running its commercial seed business in the United States. Dr. Buckeridge also ran the company's biotechnology business unit, Zeneca Plant Science, in the United Kingdom.

"We are delighted to welcome David as our Partner," said W. Dexter Paine, III, Partner. "He is already a fully integrated member of our team and his deep understanding of and experience in agriculture and biotechnology has served our company well. His promotion underscores our increasing focus on creating value at our portfolio companies by enhancing performance and growing businesses after we acquire them. We will continue to utilize his knowledge and our differentiated approach to identify promising investment opportunities."  

"David has been a tremendous asset to Paine & Partners ever since he began working with us," said Kevin M. Schwartz, Partner. "The long term macroeconomic trends for agribusiness are very positive, and with David's expertise, we believe our firm is uniquely positioned to identify the companies capable of taking advantage of this trend."    

"I have a great deal of respect for my colleagues at Paine & Partners, which includes a group of some of the most knowledgeable investment experts active in the agribusiness industry," said Dr. Buckeridge. "The need for improved quality and productivity in agriculture has created a growth market in agribusiness, with exciting new opportunities for investment. I look forward to working with our team to capitalize on these opportunities."

Dr. Buckeridge began working with Paine & Partners' predecessor firm in 2006 as an Operating Director.  Recently, he played a key leadership role in Paine & Partners' announced acquisition of Scanbio Marine Group, a leading producer of fish protein concentrate, fish meal and fish oil from fresh and ensiled fish by-products, where he will serve as Chairman.  Dr. Buckeridge is also on the Board of Directors at Icicle Seafoods, a portfolio company of Paine & Partners.    

Dr. Buckeridge is a graduate of the University of Wales, where he received his B.S. and a Ph.D. in Genetics and Plant Sciences.  

About Paine & Partners, LLC

Paine & Partners provides equity capital for management buyouts, going private transactions, and company expansion and growth programs. Paine & Partners engages exclusively in friendly transactions developed in cooperation with a company's management, board of directors, and shareholders. The firm currently makes investments through its $1.2 billion fund, Paine & Partners Capital Fund III, L. P. For further information, see www.painepartners.com.

Contacts:
For Paine & Partners:
Andy Brimmer / Bryan Darrow
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

SOURCE Paine & Partners, LLC