BASF, a German chemical company, has completed its acquisition of Becker Underwood Inc. from private equity firm Norwest Equity Partners, for $1.02 billion.
Ames, Iowa-based Becker Underwood provides technology that treats biological seeds. The company reported $246 million in revenue for the year ended Sept. 30.
BASF makes chemicals for the aerospace, agriculture, personal care, pharmaceutical and other industries.
Minneapolis and New York-based Norwest Equity Partners’ portfolio companies include Roundry’s, Go Health and Rosetta Stone. The firm has about $5 billion in capital under management.
Greenhill & Co. served as Becker Underwood’s financial adviser for the deal, which was originally announced Sept. 20.