Paine Schwartz Partners, a global leader in sustainable food chain investing, today announced a new platform investment by Paine Schwartz Food Chain Fund V (“Fund V”) in Registrar Corp (“Registrar” or the “Company”), a leading provider of supply chain compliance software and services to domestic and foreign food & beverage, medical device, pharmaceutical, and cosmetic customers. Financial terms of the transaction were not disclosed.
Founded in 2003 and headquartered in Hampton, Virginia, Registrar is the category leader in tech-enabled supply chain compliance for highly regulated and life sustaining markets. The Company leverages proprietary software and automation to facilitate the flow of essential trade, removing regulatory friction through providing data-driven visibility into, and assurance for, global supply chains at scale. Registrar operates 19 worldwide offices and serves 30,000+ customers across 175 countries who rely on the Company’s solutions to ensure compliance with recurring FDA requirements. Co-Founders Thomas Fass and David Lennarz will continue leading the business.
Registrar offers solutions in three key areas:
- US Agent, FDA Registration, and FDA Compliance: Registrar is the leading provider of global FDA-related compliance and supply chain assurance solutions across food, medical devices, pharmaceuticals, and cosmetics.
- Compliance Monitor: SaaS-solution that leverages Registrar’s extensive regulatory database to evaluate and control supplier risk, allowing users to quickly demonstrate compliance with the FSVP and internal controls.
- Online Training: Registrar is a leading provider of asynchronous online food safety certification courses, offering a low cost and flexible alternative to live in-person regulatory-mandated training.
This strategic investment builds on Paine Schwartz’s successful track record of investing in supply chain and regulatory compliance-based products and services, including Sterilex and FoodChain ID.
“We are excited about this investment from Paine Schwartz, which we believe will usher in our next phase of success,” said David Lennarz. “Thanks to the efforts of our team, we are proud to be the first touchpoint in the export compliance process and a trusted partner to our valued customers who have built their legal and regulatory compliance practices around our solutions.”
“We are poised to reach new levels of growth by expanding our core agent and registration business, ramping up our tech-enabled compliance and training businesses, extending our compliance solutions, and capitalizing on disciplined M&A opportunities,” added Thomas Fass. “Paine Schwartz brings significant experience across the supply chain, a focus on safety and compliance that aligns with our values, and the resources to help us achieve our goals. Together with the Paine Schwartz team, we will continue building out our offerings, growing our customer base, and expanding our leading market share.”
Angelos Dassios, Chief Investment Officer of Paine Schwartz, said, “We are pleased to establish a new investment platform with Registrar, the clear leader in FDA-related compliance solutions. Food safety and compliance have long been an investment thesis for Paine Schwartz. With increasingly stringent regulatory and compliance environments, growing supply chain complexity, and a more robust and global trade landscape, the demand for Registrar’s services continues to increase. Thomas, David, and their team have built a strong business with loyal customers and multiple avenues for growth. We look forward to working with them to capture the significant opportunities ahead.”
Baird served as the financial advisor and Morrison & Foerster LLP as legal counsel to Paine Schwartz Partners on the acquisition.
About Registrar Corp
Registrar Corp was founded in 2003 to help businesses comply with U.S. Food and Drug Administration (FDA) regulations. Since opening its headquarters in Hampton, Virginia, USA, Registrar Corp has expanded to 19 worldwide offices and serves more than 30,000 companies across 175 countries. Employees include former U.S. FDA officials, scientists, and industry experts.
About Paine Schwartz Partners
A global leader in sustainable food chain investing, Paine Schwartz Partners is a private equity firm focused exclusively on investment opportunities in the fast-growing, dynamic global food and agribusiness sectors. The firm’s investment, operations and finance professionals invest throughout cycles across the food and agribusiness value chain, and bring a collaborative and active management approach to portfolio companies. For further information, please see www.paineschwartz.com.
Andy Brimmer / Aaron Palash
Joele Frank, Wilkinson Brimmer Katcher