DENVER, CO (June 1, 2021) Gulftech Inter­na­tion­al™ and Ver­dant Tech­nolo­gies™ announce a defin­i­tive agree­ment in which Gulftech will acquire Ver­dant. This trans­ac­tion, expect­ed to close lat­er this month, occurs just as Ver­dant begins its com­mer­cial launch into the ag tech indus­try ser­vic­ing food and flo­ra sec­tors.  Ver­dant brings inno­v­a­tive 1‑MCP solu­tions to mar­ket that are designed to help the pro­duce and flo­ral indus­tries deliv­er fresh­er, longer-last­ing prod­ucts in a sim­ple, portable and reli­able one-step appli­ca­tion process. Verdant’s proven results and prod­uct effi­ca­cy in recent com­mer­cial field tri­als are dri­ving enthu­si­as­tic cus­tomers to quick­ly adopt Verdant’s tech­nol­o­gy.

“We wel­come Ver­dant to the grow­ing group of com­pa­nies which Gulftech has care­ful­ly cul­ti­vat­ed over our half-cen­tu­ry of con­duct­ing busi­ness in the fields of engi­neer­ing, man­u­fac­ture, lease, sale and ser­vice of indus­tri­al equip­ment and com­po­nents serv­ing food pro­duc­tion and pro­cess­ing com­pa­nies, ” said Gulftech CEO Steven Fer­rell, “Align­ing with Gulftech’s exist­ing glob­al foot­print, and lever­ag­ing syn­er­gies with our oth­er port­fo­lio com­pa­nies, Ver­dant is poised to sig­nif­i­cant­ly impact the pro­duce and flo­ral mar­kets with extend­ed prod­uct life, increased prof­itabil­i­ty and reduced waste. Ver­dant is led and man­aged by some of the great­est minds in this indus­try, com­mit­ted to pos­i­tive­ly impact the world’s health and well-being. Verdant’s unique appli­ca­tion process allows cus­tomers to rec­og­nize the advan­tages of 1‑MCP with­out any cap­i­tal invest­ment on the part of the grow­er, pack­er or retail­er.  We look for­ward to con­tin­u­ing inno­va­tions Ver­dant can pro­vide on a glob­al basis.” Fer­rell added, “We believe the cap­i­tal and strate­gic lead­er­ship we can offer will mean­ing­ful­ly impact Verdant’s finan­cial results and mar­ket devel­op­ment in the com­ing years. The finan­cial strength Gulftech pro­vides will strength­en Verdant’s posi­tion to aggres­sive­ly cap­ture mar­ket share in this dynam­ic busi­ness sec­tor and ful­fill its mis­sion.  This is a great match.”

Ver­dant CEO Gor­don Robert­son stat­ed, “We are enthu­si­as­tic about Gulftech’s deci­sion to add our com­pa­ny to their port­fo­lio. The invest­ment in Ver­dant, the syn­er­gies and oper­a­tional exper­tise that Gulftech and their sis­ter com­pa­nies pro­vide, like Sin­clair Sys­tems and Brown Inter­na­tion­al, will be our launch­pad to accel­er­at­ed growth as we com­mer­cial­ize our prod­ucts domes­ti­cal­ly and across the globe.”

Terms of the agree­ment were not released.

###

About Gulftech Inter­na­tion­al

Gulftech is a diver­si­fied hold­ing com­pa­ny with a core com­pe­tence in devel­op­ing and oper­at­ing glob­al man­u­fac­tur­ers of indus­tri­al equip­ment and com­po­nents. We are own­ers, oper­a­tors and stew­ards to a fam­i­ly of com­pa­nies serv­ing the world’s most impor­tant food pro­duc­tion and pro­cess­ing com­pa­nies.  Our mis­sion is to acquire and nur­ture com­pa­nies, invest­ing in sus­tain­able growth and long-term suc­cess. Our focus is on mid­dle mar­ket, long-term acqui­si­tion oppor­tu­ni­ties in man­u­fac­tur­ing, pack­ag­ing, dis­tri­b­u­tion and indus­tri­al after­mar­ket parts and ser­vice.  Gulftech has cor­po­rate offices in Den­ver, CO.  For more infor­ma­tion, vis­it www.gulftech.com.

About Ver­dant Tech­nolo­gies™

Ver­dant Tech­nolo­gies™ is an emerg­ing leader to the biotech­nol­o­gy indus­try, offer­ing Har­vestHold™ prod­uct life exten­sion tech­nol­o­gy for flo­ral and pro­duce prod­ucts. Ver­dant Tech­nolo­gies and its part­ners work hand-in-hand to reduce neg­a­tive envi­ron­men­tal impacts while deliv­er­ing fresh­er, more nutri­tious pro­duce and enhanced flo­rals to more peo­ple in more places. Ver­dant Tech­nolo­gies has cor­po­rate offices in St. Paul, Minn. For more infor­ma­tion, vis­it www.verdant-tech.com.

Har­vestHold™ by Ver­dant Tech­nolo­gies, the sheet form of Verdant’s 1‑MCP solu­tions, will be first of the company’s patent­ed prod­ucts avail­able in the glob­al mar­ket­place. As flo­ral and pro­duce prod­ucts are har­vest­ed, grow­ers and pack­ers will begin the appli­ca­tion process by insert­ing a sheet of Har­vestHold into the pack­ag­ing from which 1‑MCP is released.