PLATINUM EQUITY COMPLETES ACQUISITION OF HORTICULTURAL CONTAINER MANUFACTURER HC COMPANIES
Jun 03, 2023
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03 Aug, 2023, 09:40 ET
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LOS ANGELES, Aug. 3, 2023 /PRNewswire/ -- Platinum Equity announced today that the acquisition of The HC Companies, a leading North American manufacturer of horticultural containers, has been completed. Financial terms were not disclosed.
Headquartered in Twinsburg, Ohio, HC operates six manufacturing locations and distribution centers in the US and Canada. The company produces a wide range of planters, pots, and accessories for the greenhouse, nursery and retail markets, including fiber and biobased solutions produced with post-consumer and post-industrial materials to meet increasing consumer demand for sustainable solutions.
"HC has earned a well-deserved reputation for innovation, quality and customer service, and the company offers one of the most comprehensive product lines in the industry," said Platinum Equity Co-President Jacob Kotzubei. "We are excited to work with the HC management team and to continue investing in the company's long-term strategic plans."
The HC Companies President and CEO Bob Mayer will continue leading the business following the transition to new ownership.
"We know the industry well and have a lot of operational experience in manufacturing, supply chain and distribution that can help the company take the next step," said Platinum Equity Managing Director Nick Fries. "We will pursue opportunities to help the business grow both organically and through add-on acquisitions in adjacent product categories, segments, channels and geographies."
The HC acquisition was led by Platinum Equity's Small Cap investment team, which is actively deploying capital.
In April, the Small Cap team completed the acquisition of a majority stake in Tarter Farm and Ranch Equipment, which manufactures animal gates and fencing solutions, tractor implements, planters and fire rings, and animal feeding and handling equipment for ranchers, large institutional farms and smaller farming enthusiasts.
Willkie Farr & Gallagher LLP served as legal counsel and Alston & Bird LLP served as financing counsel to Platinum Equity on the HC acquisition.
Lincoln International served as financial advisor to HC on the transaction and Haynes and Boone, LLP served as legal counsel.
About Platinum EquityFounded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $47 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 28 years Platinum Equity has completed more than 400 acquisitions.
About The HC Companies, Inc.The HC Companies is a proud culmination of many legacy brands and continues to transform the horticultural industry through bold leadership, innovative manufacturing, and a comprehensive portfolio of products ideal for greenhouse, nursery, retail, and commercial markets. Headquartered in Twinsburg, Ohio, with production and distribution facilities throughout North America, HC manufactures growing solutions using the latest technologies and materials to satisfy the challenges of a continuously evolving industry. In addition to their horticultural containers, HC also supports a full line of sustainably sourced solutions including protective packaging, consumer products, growing containers, and more. For information on The HC Companies, visit hc-companies.com (growing containers) or hc-sustainable.com (sustainable products).
Dan WhelanPlatinum Equity(310) 282-9202[email protected]
Tricia PriceHC Companies(216) 513-2309[email protected]
SOURCE Platinum EquityPlatinum Equity