Superior Street Acquires Riverbend Nursery
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Superior Street Acquires Riverbend Nursery

riverbend nusery nf1Superior Street Partners has acquired Riverbend Nursery, a producer and distributor of plants, herbs, and ground cover.

Riverbend Nursery is a producer and distributor of perennial plants, herbs, and ground cover, with sales primarily to the independent garden center and landscape contractor markets.  Riverbend also produces and markets a green roof product in the Mid-Atlantic region, under the LiveRoof name, as part of its storm water management business.  The company was founded in 1984 by Jim Snyder, who will remain Chief Executive Officer.  Riverbend Nursery is based west of Richmond in Riner, VA (www.riverbendnursery.com).

“Riverbend’s core operations and focus on quality production and superior customer service will remain unchanged post acquisition.  We view this investment as an opportunity to partner with Jim Snyder and a successfully built operation, which includes a solid level of next generation management,” said Jon Herbst, President of Superior Street Partners.  “Our plan is to carefully further expand the plant segment and green roof business, which is still a relatively young market domestically as part of a solution for storm water runoff, and presents a significant growth opportunity.”

Superior Street Partners invests in lower middle market companies that have EBITDA of $1 million to $3 million and are based east of the Mississippi River.  Superior Street will consider minority (non-control) ownership positions through mezzanine investments.  The firm invests in an array of industries but has specific interest in the following areas: aerospace; business services; construction; consumer products; electronic manufacturing services; food; green roof and other green technologies; manufacturing; nursery operations; packaging; and select restaurant franchisors and franchisees.  The firm is led by Jon Herbst and is based in Shaker Heights, OH (www.sstreetpartners.com).

“This transaction enables Riverbend to further grow and expand its business, bringing new opportunities and room for growth to both employees and customers.  Having Superior Street as a long-term partner secures our future as a continued leader in the perennial and green roof industries, and their interest in maintaining operations aligned well with our commitment to superior products and customer service,” said Mr. Snyder.

Union First Market Bank provided the senior debt financing for the transaction and is providing continued working capital support.

© 2014 PEPD • Private Equity’s Leading News Magazine • 8-28-14

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