Photo courtesy of Platinum Equity
Platinum Equity has announced the signing of a definitive agreement to acquire The HC Companies, a leading North American manufacturer of horticultural containers.
Financial terms were not disclosed. The transaction is expected to close in the next several weeks, subject to certain closing conditions.
Headquartered in Twinsburg, Ohio, HC operates six manufacturing locations and distribution centers in the US and Canada. The company produces a wide range of planters, pots and accessories for the greenhouse, nursery and retail markets, including fiber and biobased 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 Jacob Kotzubei, Platinum Equity co-president. “We look forward to working with the leadership team to help the company continue investing in growth while navigating a dynamic market.”
Bob Mayer, president and CEO of HC Companies, 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,” says Mayer. “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 Nick Fries, managing director of Platinum Equity. “We believe HC is an attractive platform for additional growth, both organically and through new acquisitions in adjacent product categories, segments, channels and geographies.”
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