Midwest Growth Partners makes $5M investment in Minnesota ag equipment maker

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Midwest Growth Partners, a West Des Moines-based private equity fund, announced an investment in Minnesota-based Fast Ag Solutions, a manufacturer of liquid fertilizer application and spraying equipment. Midwest Growth Partners’ investment, which according to a regulatory filing was $5 million, was made in partnership with Des Moines-based Summit Equity Group and Fast Ag Solutions’ senior management team. Equipment made by Fast Ag Solutions, based in the southwest Minnesota city of Windom, includes pull-type and three-point mounted liquid fertilizer applicators and sprayers in addition to ancillary products that support those business lines. “The decision to partner with MGP and SEG is something we are very excited about,” the company’s president, Cody Fast, said in a release. “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.” The 30-year-old company serves customers throughout the United States in addition to Ukraine and Australia.