By Gerelyn Terzo, Global AgInvesting Media
Fort Worth, Texas-based private equity giant TPG has announced a development within its impact platform. TPG Rise Climate, TPG’s private equity fund specializing in climate solutions, has made a new investment. The fund has partnered with Renaissance Partners to invest in a controlling stake in SICIT Group, a company that produces bio-stimulants designed to transform the residues of the leather industry into high value-added products for sustainable agriculture using an efficient fully circular business model.
TPG Rise Climate offers investors a differentiated, multi-strategy approach to a generational investment theme, investing in the climate sector holistically with a strategy to advance decarbonization at scale.
The latest deal has several moving parts. Existing backers Renaissance Partners and Intesa Holding are offloading their stakes, while Renaissance Partners through its Renaissance Partners Fund IV will then reinvest in the new transaction. Renaissance Partners and TPG’s climate-focused arm, TPG Rise Climate, are teaming up in a co-control partnership in a growth and expansion push. Additionally, major co-investors LGT Capital Partners and Schroders Capital are part of the investor lineup, while Intesa Holding will maintain a stake, reinvesting in a minority position.
SICIT is a key player in sustainable agriculture, operating a distinctive circular business model. The company takes residues from the leather industry and cleverly converts them into valuable outputs like biostimulants for plant growth, plaster retardants and biofuel feedstock. This process offers a critical service to the leather sector while delivering significant added value.
The company’s portfolio includes a variety of biostimulants – derived from animal, seaweed and plant origins – which are crucial for modern agriculture. These products improve nutrient absorption in crops, boost yields and quality, and enhance plant resilience to environmental challenges. Additionally, SICIT produces essential retardants for the plaster and plasterboard industries, as well as a fat component utilized in biofuel production.
With a strong global B2B presence, SICIT supplies leading companies in the agrochemical industry, with over 90 percent of its revenue originating from international sales. The company emphasizes premium, tailored solutions, supported by strong R&D, continuous innovation and strict quality control measures.
The partnership with Renaissance Partners and TPG is set to propel SICIT into its next growth phase, capitalizing on the expanding market and robust demand for sustainable agricultural solutions. A new production plant in Mexico, along with an emerging vegetable and plant-based product line, are slated to fuel growth. The acquisition is anticipated to close in Q3 2025.
TPG Rise Climate Business Unit Partner Joerg Metzner stated, “In addition to joining our global portfolio of leading circular economy businesses, SICIT represents TPG Rise Climate’s first investment in the Adaptation and Resilience sector. As more frequent extreme weather events increase pressure on crop yields and available arable land, SICIT’s sustainable biostimulants are playing a critical role in improving the nutrient efficiency and quality of crops while protecting them against growing environmental stress.”
SICIT CEO Massimo Neresini emphasized the company’s focus on sustainable innovation and expanding its advanced agricultural solutions worldwide. He stated that the investment from TPG Rise Climate, along with ongoing support from Renaissance Partners, will bolster their commitment to the biostimulant sector. Neresini highlighted their strategic moves, including the acquisition in Chile and the upcoming Mexico plant, as key to meeting the rising global demand for sustainable farming practices that improve productivity and crop quality.
Renaissance Partners’ Tommaso De Bustis Figarola commented, “ICIT represents a true success story — not only for its financial performance, but also for its role in making the agriculture sector more sustainable and contributing to a better environment.”
The TPG Climate Fund announced its first close in 2021, as covered by GAI News.
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