WEST DES MOINES, Iowa (November 2, 2020) – Midwest Growth Partners (MGP), a West Des Moines, Iowa-based private equity fund, announces an investment in Minnesota-based FAST Ag Solutions (Company), a manufacturer of liquid fertilizer application and spraying equipment. In partnership with Summit Equity Group (SEG) and the senior management team, FAST Ag Solutions represents a continuation of MGP’s strategy to invest alongside entrepreneurs who are growing businesses that support food and agriculture.
FAST Ag Solutions manufactures world-class farming equipment, including pull-type and three-point mounted liquid fertilizer applicators and sprayers in addition to a host of ancillary products that support those business lines, including tractor-mounted tanks, pull-type trailer tanks, rotary hoes and replacement parts for its entire product portfolio. The Company employs 51 full-time team members and is led by President Cody Fast.
“We’re extremely fortunate to have 30 years of success to call on as we look to the next chapter of FAST Ag Solutions. My father, Verlyn Fast, founded this Company on the principles of quality, honesty, integrity, and hard work, and I am honored to lead the Company with those same guiding principles going forward. The decision to partner with MGP and SEG is something we are very excited about. Combining their financial resources with their strong agricultural backgrounds will be a significant benefit for us as we seek to grow the Company both organically and via mergers and acquisitions,” said Cody Fast.
“We’re thrilled about our partnership with SEG and the Fast family” noted Mike Taylor, co-founder of Midwest Growth Partners. “Working with Cody Fast and his team has been a real pleasure, and we couldn’t be more excited about the alignment between MGP, SEG and FAST Ag Solutions. Each of our firms share proven track records of successful partnerships, and we’re particularly excited to support the management team as FAST Ag Solutions looks to continue growing its business,” said Taylor.
FAST Ag Solutions first opened its doors in 1990 with a single mission in mind; manufacture a product that addressed the application challenges farmers faced each growing season. For over 30 years, FAST Ag Solutions has delivered innovative, high-quality products that farmers can depend on. FAST Ag Solutions is headquartered in Windom, Minnesota and serves customers throughout the United States in addition to Ukraine and Australia.
For more information on Midwest Growth Partners, its investment strategy, criteria or portfolio companies, please visit mgpfund.com. For more information on FAST Ag Solutions, please visit fastagsolutions.com.