Tillerman Seeds, a Grand Rapid, MI-based company created to acquire regional producers of specialty, GMO and non-GMO seeds, purchased the assets of Dansville, MI-based DF Seeds in its first transaction.

DF Seeds, a supplier of soybean and wheat varieties that are best-suited to grow in Michigan’s unique micro-climate, serves more than 400 farmers with seeds that generate higher yields and increased resistance to disease and pests. Founded in 1992, the company will continue to operate under the DF Seeds brand with the same local team, including President Chris Varner, a 25-year veteran of the seed industry.

“We are pleased to welcome Chris and her staff to the Tillerman Seeds team, which has been working diligently to identify acquisitions in the seed market,” said James Sheppard, CEO of Tillerman Seeds.

“We believe there is a significant opportunity to consolidate small seed companies around the country,” Sheppard said. “There is a growing number of seed company owners who are preparing to retire, but want to ensure that the legacy, jobs and culture of the companies they built are carried forward. That is what Tillerman Seeds was created to do.”

Tillerman Seeds intends to purchase small seed companies with an established regional presence or specialty products that have growth potential. The holding company plans to operate acquired companies as standalone entities with shared back-office services including accounting, human resources and purchasing. DF Seeds and other acquired companies will also collaborate on research and development, as well as best business practices for customer service, marketing and cross-selling of product lines.

Tillerman & Co., which provided structuring, negotiation and capital formation on the transaction, will provide financial management for the new company and its subsidiaries until a permanent chief financial officer is hired.

Wells Fargo provided senior debt financing and a revolving credit facility to Tillerman Seeds. Barnes & Thornburg provided legal counsel to Tillerman Seeds on the transaction.