Renaissance Partners and TPG Rise to acquire a majority stake in SICIT.

Renaissance Partners, an investment firm, and TPG Rise, a climate investing platform of TPG, agreed to acquire a majority stake in SICIT, a producer of biostimulants, transforming the residues of the leather industry into high value-added products for sustainable agriculture through a fully circular business model. Financial terms were not disclosed. “We are delighted to partner with Renaissance Partners and Intesa Holding to expand SICIT into new geographies and continue to deliver high-quality, sustainable products across a broad set of industries. 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," Joerg Metzner, TPG Rise Climate Business Unit Partner.