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MIDWEST GROWTH PARTNERS ANNOUNCES AN INVESTMENT IN LIVINGSTON MACHINERY CO. AND AG SOLUTIONS GROUP
Source: Midwest Growth Partners news release

West Des Moines, IA - Midwest Growth Partners ("MGP"), a Food & Ag focused private equity fund manager with offices in West Des Moines, IA and Omaha, NE, announces its most recent platform investment in rural America. MGP partnered with co-investors Summit Equity Group, Northcreek Mezzanine, and company management to capitalize Ag Solutions Group Holding Company, LLC for the acquisition of Livingston Machinery Company ("LMC") and contribution of Ag Solutions Group, LLC ("ASG"). Together, LMC and ASG have 188 employees serving the agricultural equipment and service needs of farmers and ranchers in nine states.

ASG operates as an independent agricultural equipment dealer selling and servicing equipment from their five current locations in Redwood Falls, MN, Fort Dodge, IA, Omaha, NE, Concordia, MO and Marshall, MO as well as through an e-commerce channel barndoorag.com.

ASG specializes in fertilizer application, powersports, and farming equipment that caters to row crop, forage, hay, and livestock producers in addition to landscape contractors and rural acreage owners across the upper Midwest. ASG benefits from long standing relationships with its customers and high caliber original equipment manufacturers such as Kubota, Polaris, CNH Industrial, Kinze, FAST, Unverferth, and Manitou.

LMC sells, services, and maintains commercial agricultural equipment in Oklahoma, Texas, New Mexico, Kansas, and Colorado from their four current dealership locations in Chickasha, OK, Fairview, OK, Dalhart, TX and Muleshoe, TX. In addition to their dealership and service locations, LMC maintains a mobile service fleet that provides repair and maintenance services for customers on-site 24/7/365.

LMC is consistently one of AGCO's (NYSE: AGCO) leading agricultural equipment dealerships by volume and performance, currently ranked #5 in North America. LMC has also claimed the #1 or #2 dealer ranking in Hesston Hay Tools for over 25 years and is among the top five Fendt dealers across North America.

"We are very excited to bring new partners into the business. They not only bring the capital needed for expansion but also deep experience and knowledge in the ag equipment business, expansive networks in the food and agricultural sector, and talented M&A resources," said Shawn Skaggs, President/CEO of Livingston Machinery Company. "This new partnership allows us to stay rooted in the culture that helped get us to where we are now while also providing a clear path and financial resources to execute future growth and expansion plans, including mergers and acquisition activity."

"It's been a pleasure to get to know the management teams from both LMC and ASG and we're proud to partner with them in pursuit of accelerated growth" said MGP Co-Founder Mike Taylor. "MGP believes the agricultural equipment industry consolidation trend will continue, and the combined ASG/LMC platform is uniquely positioned to provide a natural succession platform for dealers seeking to retire, while at the same time, uphold the standard of care and service that farmers, custom applicators and those in production agriculture have come to expect from their local dealer."

For more information on Livingston Machinery Company and Ag Solutions Group, please visit livingstonmachinery.com and agsolutionsgroup.com.



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