Greenrise Technologies, a portfolio company of Boyne Capital since August 2017, has acquired Southern Nurseries, a manufacturer and supplier of engineered soils.
Southern Nurseries’ products are sold to commercial and residential customers located in the Nashville metropolitan area and include the Holy Cow! Soils brand of biofiltration soils which are used to clean and absorb stormwater runoff, and are applied in the development of retention reservoirs, erosion control applications, and landscaping.
Southern also sells topsoil, compost, mulches, gravels, and hardscaping materials. The company, based in Hendersonville, TN, was founded by President Terry Flatt in 1983.
Greenrise Technologies is a provider of infrastructure services – including design, component selection, installation and maintenance – for green roofs and outdoor landscapes. According to Greenrise, green roofs have several advantages over empty and unused space including stormwater runoff reduction, better insulation and roof life extension. The company is led by CEO Ray Derbecker and is headquartered near Nashville in Readyville, TN.
“The custom soils that make up the Southern Nurseries product suite are critical to on-roof applications given their weight and water retention properties,” said Mr. Derbecker. “Southern Nurseries enhances our portfolio, allowing us to leverage our robust component supply chain to reliably serve our customers and provide market-leading pricing. We are planning to expand Southern Nurseries’ geographic reach and are delighted to welcome the team to Greenrise.”
“Southern Nurseries fits perfectly within the Greenrise mission to ‘deliver innovative, reliable, and precisely engineered green roof and stormwater management turnkey systems, landscape media, componentry and maintenance.’ We are excited to support the growth of Greenrise through this strategic investment,” said Derek McDowell, Boyne’s managing partner and CEO.
Boyne makes investments in lower middle-market market companies that have revenues of less than $100 million and EBITDA of $2 million to $10 million. Sectors of interest include healthcare services, agriculture, consumer products, niche manufacturing, and business and financial services. Boyne was founded by Mr. McDowell in 2006 and is headquartered in Miami.
© 2019 Private Equity Professional | November 8, 2019
