Horticulture Container Manufacturer HC Companies Acquired by Investment Firm
May 22, 2023
Platinum Equity has agreed to acquire The HC Companies, a leading North American manufacturer of horticultural containers. The transaction is expected to close in the next several weeks, subject to certain closing conditions.
Headquartered in Twinsburg, OH, HC operates six manufacturing locations and distribution centers in the U.S and Canada. The company produces a wide range of planters, pots, and accessories for the greenhouse, nursery, and retail markets, including fiber and bio-based solutions produced with post-consumer and post-industrial materials to meet increasing consumer demand for sustainable solutions.
“HC has built an impressive business, with a strong leadership team, dedicated employees, and one of the most comprehensive product lines in the industry,” says Platinum Equity Co-President Jacob Kotzubei. “We look forward to working with the leadership team to help the company continue investing in growth while navigating a dynamic market.”
The HC Companies President and CEO Bob Mayer will continue leading the business following the transition to new ownership.
“We are excited about this new chapter, which presents an opportunity for HC to redouble our commitment to innovation, expansion, and customer service,” Mayer says. “Platinum Equity’s financial resources and operational expertise will be a great asset to our long-term strategic plans.”
Mayer and Platinum executives both expect a seamless transition.
“We have a lot of experience in manufacturing, supply chain and distribution, and we understand the market very well,” says Platinum Equity Managing Director Nick Fries. “We believe HC is an attractive platform for additional growth, both organically and through new acquisitions in adjacent product categories, segments, channels, and geographies.”
Platinum Equity’s current portfolio includes Husky Technologies, a producer of injection molding equipment used in the production of some lines of horticulture container solutions. Platinum previously owned Orbit Irrigation, a manufacturer of smart watering technologies and other irrigation and garden products and grower supply goods.
Haynes and Boone represented HC Companies in the transaction. The team was led by Mergers and Acquisitions and Investment Management Partner Kellie Bobo and included M&A Practice Group Chair Tom Harris, Partner Zach Burnett and Associates Dillon Sebasco and Alexandria Pencsak.
Brian Sparks is senior editor of Greenhouse Grower and editor of Greenhouse Grower Technology. See all author stories here.