Dec. 1, 2022: Blackford Announces Another Patio Consolidation Investment
Plus, Northstar backs Tonka Bay investment, and Mangrove acquires greenhouse manufacturer
Read the top headlines for Thursday, December 1, 2022 below:
Blackford Capital Acquires Turf Manufacturer
Lower middle-market private equity firm Blackford Capital has acquired Artificial Turf Supply, a manufacturer of artificial turf products. A press release said the investment marks Blackford’s second addition to its Patio Consolidation Portfolio in less than a month. Blackford pointed to Business Market Insights data in its press release that said the artificial turf industry will grow to $862 million in valuation by 2028. “The integration of ATS into the Patio portfolio enhances the platform’s ability to accelerate growth and gain market share against competitors in every business segment by taking full advantage of new processes, new talent, and new sales channels,” the announcement notes.
Northstar Backs Tonka Bay’s Acquisition of Standard Locknut
Investment management company Northstar Capital said in an announcement that it provided financing for Tonka Bay Equity Partners’ investment in Standard Locknut, a manufacturer that specializes in bearing components like locknuts and pillow blocks. Northstar supported the transaction in the form of debt and an equity co-investment, the press release said. Standard Locknut is the 24th platform investment from Northstar’s Fund VII.
Mangrove Acquires Greenhouse Manufacturer Atlas
Mangrove Equity Partners has acquired greenhouse manufacturer Atlas Greenhouse, according to a recent press release, with investment banking firm Heritage Capital Group advising Atlas on the deal. Mangrove, a Tampa-based lower middle-market private equity firm, focuses its investments on service providers, manufacturers and value-add distributors, a press release noted.