Major hydroponic equipment and supplies omnichannel retail partners with two leading private equity firms.
WESTPORT, Connecticut (PRWEB) June 03, 2021
Westbury Group LLC (“Westbury”) today announced the recapitalization of Growers House Holdings LLC (“Growers House”) by RLJ Equity Partners, LLC (“RLJ Equity”) and Cave Creek Capital Management, LLC (“Cave Creek Capital “). The transaction closed in April 2021. Jonathan Rubin and Jim Whitcomb led the Westbury investment banking team.
Growers House is a leading retailer of digitally native and omnichannel hydroponic equipment and supplies serving the specialty agriculture industry. Growers House and its subsidiaries combine the creation of exclusive and industry-leading video content with one of the largest assortments and seasoned cultivation experts to provide a full retail and advisory service to commercial and amateur growers, highlighting evidence and defining the future of cultivation products and methodologies.
The recapitalization retains co-founder and co-CEO Nate Lipton, his co-CEO Angela Kapp and the company’s management team. The team will use their close ties with the industry’s leading growers and growers to develop innovative products, and leverage their compelling content brands, such as Canna Cribs, to bring them to market. The company’s new investors will provide the capital needed to accelerate its omnichannel growth, develop more world-class content for its rapidly expanding base, expand into new markets, and deliver the best services and products to B2B and B2C customers.
In addition to the continued development of the hydropower industry’s leading e-commerce platform, Growers House will consolidate its market-leading business in Arizona with the addition of a second retail store, this one in Phoenix, and will start serving international customers on its site, http://www.growershouse.com.
“We would like to thank the Westbury team for their assistance in this transaction, especially amid the turmoil of the pandemic. The result was exactly what we were looking for – with two major financial firms now working with us, ”Nate noted.
Angela added: “Jim, Jon and the team have never shown their support and we appreciate the professionalism they brought to the effort.”
Mr. Rubin said, “It was a pleasure to complete this transaction with such a talented team, as well as with RLJ and Cave Creek, who brought creativity and a sharp analytical approach to the transaction.
Jim Whitcomb said, “The Growers House team has built an industry leading e-commerce business. With the support of their new investors, we look forward to seeing their continued leadership in the hydropower sector.
ABOUT THE WESTBURY GROUP
Westbury Group LLC (http://www.westburygroup.com) is an investment bank dedicated to providing exceptional financial and strategic advisory services to leading mid-market companies. Based in Westport, Connecticut, Westbury Bankers serve clients across the country. Westbury’s finance professionals bring transactional and real-world operations experience to commitments ranging from $ 25 million to over $ 300 million. assist clients with mergers and acquisitions, raise equity capital and support management and boards of directors with advisory services. Westbury Group is a broker registered with FINRA and a member of the International Corporate Finance Group (http://www.icfg.net).
ABOUT THE MAISON DES CULTIVATORS
Founded in 2011 by Nate Lipton and Paul Lipton, Growers House is headquartered in Tucson, Arizona, and has rapidly grown to be a leading retailer of digitally native and omnichannel hydroponic equipment and supplies serving the specialized agricultural industry. Nate and Angela Kapp are co-CEOs.
ABOUT RLJ EQUITY
RLJ Equity Partners, founded in 2006, is a mid-sized private equity firm focused on generating long-term capital appreciation by investing in profitable and growing companies led by strong management teams. RLJ Private Equity is a subsidiary of The RLJ Companies, founded by Robert L. Johnson, the founder of Black Entertainment Television (BET). RLJ Private Equity invests in traditional buyouts, recapitalizations and growth capital injections and is based in Bethesda, Maryland.
ABOUT THE CAPITAL OF CAVE CREEK
Cave Creek Capital Management is a lower-middle market private equity firm that partners with management teams to focus on creating long-term value for portfolio companies by improving growth and competitive position. Cave Creek seeks to invest in targeted industries with lean business models, bringing over 20 years of transaction experience while making over 30 investments in the form of equity or mezzanine debt. Cave Creek is based in Phoenix, Arizona.
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