DENVER, Jan. 11, 2022 /PRNewswire/ — Platte River Equity ("Platte River") announced that it has made a majority investment in Turf Care Supply, LLC ("Turf Care" or the "Company") in partnership with the management team, which made a significant investment alongside Platte River. Headquartered in Brunswick, OH, Turf Care is a leading formulator and blender of coated nitrogen and other fertilizer products, operating four manufacturing facilities throughout the eastern United States. The transaction also includes Allied Nutrients, a division within Turf Care focused on supplying enhanced efficiency fertilizer.
"Platte River’s cultural fit and relevant experience were important to our team as we chose a partner to support the Company in its next phase of growth," said Turf Care Chief Executive Officer, William Milowitz.
"The Company has built an excellent reputation as a leader in the turf & ornamental ("T&O") market and will be a strong addition to Platte River’s portfolio of companies. We look forward to helping management capitalize on Turf Care’s organic growth and acquisition opportunities," said Kris Whalen, Managing Director of Platte River.
"We remain committed to our strategy of providing exceptional customer service, investing in our people and strategically growing our business. We look forward to expanding Turf Care’s position as a leader in the turf & ornamental market with the support of Platte River," added Mark Mangan, Chief Operating Officer of Turf Care.
"We are excited about our partnership with William, Mark and the entire Turf Care team," said Platte River Vice President, Tarun Kanthety.
Bartlit Beck LLP served as legal counsel to Platte River. Calfee, Halter & Griswold LLP served as legal counsel and Citizens M&A Advisory served as financial advisor to Turf Care.
About Platte River Equity
Founded in 2006 and based in Denver, CO, Platte River Equity is a private equity firm focused on investments in established lower middle market operating companies in targeted industrial sectors where it has substantial operating and investing experience.
Platte River utilizes conservative capital structures in order to invest in future growth opportunities and withstand changing economic environments. The firm also provides significant on-going support to its portfolio companies through dedicated resources across functional areas.
The firm has raised funds with committed capital in excess of $1.3 billion and is currently investing out of its $625 million fourth fund. Platte River’s employees are the largest collective investor across its funds, deeply aligning the firm with its investors and portfolio company management teams.
About Turf Care Supply, LLC
Established in 1974, Turf Care Supply is one of the largest formulators and blenders of urea products to the turf & ornamental market. Turf Care has a comprehensive product portfolio of fertilizers, combination products (herbicide/insecticide), soil amendments and enhanced efficiency fertilizer ingredients. Turf Care’s products are sold to distributors and blenders serving the commercial, residential and golf end markets.
Brian P. Klaban
Director of Business Development & Debt Capital Markets
Phone #: +1 303 292 7317
Lauren A. Metz
Business Development Senior Associate
Phone #: +1 303 292 7321
SOURCE Platte River Equity