SePRO Corporation: Comprehensive Company Profile

Background

SePRO Corporation, founded in 1994 and headquartered in Carmel, Indiana, is a research-based life sciences company dedicated to discovering and developing sustainable solutions for specialty markets. The company's mission is to provide plant protection and plant management products and services tailored to specialized market needs. SePRO has established itself as a leader in the aquatics industry and plays a significant role in professional turf, horticulture, and landscape markets. The company operates a 410-acre Research & Technology Campus in Whitakers, North Carolina, central to its product innovation efforts.

Key Strategic Focus

SePRO's strategic focus encompasses:

• Aquatic Plant Management: Developing solutions for invasive aquatic weeds and algae control.

• Turf and Ornamental Management: Offering plant growth regulators, herbicides, insecticides, and fungicides for turf and greenhouse markets.

• Specialty Agriculture: Providing herbicides and biofungicides for specialty agriculture markets.

The company leverages partnerships with leading agricultural chemical companies to develop chemistries for use in its key markets.

Financials and Funding

As of 2024, SePRO Corporation reported estimated annual revenues of approximately $23.9 million, with a workforce of around 114 employees. In July 2024, Stanley Capital Partners made a strategic majority investment in SePRO, with Goldman Sachs Alternatives participating as a minority co-investor. This investment aims to accelerate SePRO's innovation and customer engagement efforts.

Pipeline Development

SePRO's product pipeline includes:

• ProcellaCOR™: An aquatic herbicide approved by the U.S. Environmental Protection Agency (EPA) for controlling invasive aquatic weeds such as hydrilla and Eurasian watermilfoil. ProcellaCOR™ is notable for being the first new herbicide active approved for aquatic use in 32 years.

• Bio-Tam® 2.0: A biofungicide marketed in partnership with Isagro S.p.A., targeting soilborne diseases in various crops.

• Obtego®: A biofungicide and plant symbiont introduced to protect plants from damaging soilborne pathogens.

Technological Platform and Innovation

SePRO's innovation is anchored by its 410-acre Research & Technology Campus (SRTC) in Whitakers, North Carolina. The company employs proprietary technologies and scientific methodologies, including the development of bio-rational chemistries and advanced herbicide formulations. Notably, SePRO's ProcellaCOR™ received the EPA's Reduced Risk designation for its short-exposure, systemic mode of action.

Leadership Team

• Tyler Koschnick, Ph.D.: President of SePRO Corporation. Dr. Koschnick has been instrumental in leading the company's strategic initiatives and growth.

• William H. Culpepper Jr.: Founder and former President & CEO. Mr. Culpepper established SePRO in 1994 and has been a recognized leader in the industry.

Leadership Changes

In July 2024, SePRO announced a strategic investment by Stanley Capital Partners, with Goldman Sachs Alternatives as a minority co-investor. This partnership is expected to support and expedite SePRO's mission to protect, preserve, and restore natural resources.

Competitor Profile

Market Insights and Dynamics

The specialty environmental restoration and agricultural chemicals market is characterized by a growing emphasis on sustainable solutions and innovative technologies. SePRO's focus on aquatic plant management, turf and ornamental care, and specialty agriculture positions it within a competitive landscape that includes both large multinational corporations and specialized firms.

Competitor Analysis

Key competitors include:

• PBI-Gordon Corporation: Specializes in turf and ornamental products, with an estimated revenue of $223.8 million and approximately 396 employees.

• Drexel Chemical Company: Offers a range of agricultural chemicals, generating around $147.2 million in revenue with 253 employees.

• Atticus LLC: Provides crop protection products, with estimated revenues of $87.6 million and 186 employees.

• Control Solutions Inc.: Focuses on pest control solutions, reporting revenues of $59.5 million and employing 89 individuals.

Strategic Collaborations and Partnerships

SePRO has engaged in several strategic partnerships to enhance its market position:

• Isagro S.p.A.: Agreement to market Bio-Tam® 2.0 biofungicide in the U.S. agricultural crop markets.

• Excellere Partners: In 2019, SePRO announced a strategic partnership with Excellere Partners to support the company's growth and expansion initiatives.

Operational Insights

SePRO's competitive advantages include:

• Research and Development: The SRTC facility enables the company to develop innovative products tailored to specialized market needs.

• Market Specialization: Focus on niche markets such as aquatic plant management and specialty agriculture allows SePRO to offer specialized solutions.