Key Takeaways
- Harvest Acquisitions announced the purchase of Matex Control Chemical from Richardson International Limited, marking the ag-led investment group’s debut transaction.
- Matex Control Chemical manufactures environmentally safe drilling fluids and proprietary vegetable oil-based lubricants, serving the global drilling industry through its distribution network.
- Richardson International fully acquired Matex in 2021 and decided to sell the business as part of their long-term strategic alignment focus.
- Harvest Acquisitions is a private investment group formed by agricultural producers and agribusiness professionals, focused on acquiring profitable Canadian agribusinesses.
- The transaction positions Matex for continued growth under Harvest’s dedicated ownership and agricultural industry expertise.
Harvest Acquisitions Announces Debut Transaction
Harvest Acquisitions announced on March 18, 2026, the purchase of Matex Control Chemical from Richardson International Limited, representing the investment group’s first acquisition since formation. The Winnipeg-based transaction establishes Harvest Acquisitions as an active player in the Canadian agribusiness acquisition space.
The ag-led investment group, comprised of agricultural producers and agribusiness professionals, focuses on acquiring and owning established, profitable Canadian agribusinesses through aligned ownership structures. This acquisition strategy emphasizes supporting businesses with strong fundamentals through disciplined capital deployment.
Matex Control Chemical Operations
Matex Control Chemical specializes in manufacturing environmentally safe drilling fluids and proprietary vegetable oil-based lubricants. The company serves the drilling industry through a global distribution network, providing specialized products for industrial applications.
Richardson International fully acquired the business in 2021, but the recent sale reflects Richardson’s strategic focus on long-term alignment and core business priorities. The divestiture allows Richardson to concentrate resources on its primary agricultural operations.
Leadership Vision for Harvest Acquisitions Growth
“This first acquisition is a landmark moment for Harvest and reflects our core philosophy: investing in what we know,” said Brent Metcalfe, CEO of Harvest Acquisitions. “As ag-led investors, we are uniquely positioned to back proven Canadian businesses like Matex and support their next phase of global growth.”
The acquisition strategy emphasizes continuity for existing customers and partners, with Harvest Acquisitions committed to maintaining steady day-to-day operations during the ownership transition.
Strategic Direction Under New Ownership
Harvest Acquisitions plans to support the Matex team while identifying practical growth opportunities building on Richardson’s established foundation. The investment group’s agricultural background provides industry-specific expertise for guiding strategic business development initiatives.
Richardson International Limited, headquartered in Winnipeg, Manitoba, operates as a wholly owned subsidiary of James Richardson & Sons, Limited, functioning as a global leader in agriculture and food processing with 4,000 employees worldwide.
