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Ultra Gro, a Madera-based company that sells a proprietary line of biologically enhanced agricultural fertilizer, bought out its equity debt from Davis-based Central Valley Fund.
Ultra Gro's products are used on crops such as tomatoes, strawberries, grapes, almonds, pistachios and walntus, citrus, peppers, melons and others.
Ultra Gro Plant Food LLC bought out its equity debt from Davis-based Central Valley Fund.
Ultra Gro is a Madera-based company that sells a proprietary line of biologically enhanced agricultural fertilizer.
In 2008, the company got $3.35 million in mezzanine financing from Central Valley Fund. On Friday, the fund announced it had exited the investment.
Four managers of the company in 2008 wanted to buy the company from its owners, but they didn?t have the money, so they got $2.35 million in debt financing and $1 million in equity financing from the Central Valley Fund, said Don Parreira, president of Ultra Gro.
The company has since grown and expanded into new markets domestically and in Mexico.
?We?ve paid down all the debt and bought back the equity,? he said. ?We bought our company back. The Central Valley Fund was very helpful, and we are very grateful.?
Neither the company nor the fund will say how much the financing cost.
Mark Anderson covers technology, banking and finance, medtech and biotech, venture capital, energy, mining, hotels, restaurants and tourism for the Sacramento Business Journal.
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