M&A Deal Summary

RLJ Equity Partners and Cave Creek Capital Management Acquire GrowersHouse

On May 24, 2021, private equity firms RLJ Equity Partners and Cave Creek Capital Management acquired machinery company GrowersHouse

Acquisition Highlights
  • This is RLJ Equity Partners’ 1st and Cave Creek Capital Management’s 1st transaction in the Machinery sector.
  • This is RLJ Equity Partners’ 13th and Cave Creek Capital Management’s 11th transaction in the United States.
  • This is RLJ Equity Partners’ 1st and Cave Creek Capital Management’s 4th transaction in Arizona.

M&A Deal Summary

Date 2021-05-24
Target GrowersHouse
Sector Machinery
Buyer(s) RLJ Equity Partners
Cave Creek Capital Management
Deal Type Recapitalization
Advisor(s) Westbury Group LLC (Financial)

Target

GrowersHouse

Phoenix, Arizona, United States
GrowersHouse offers the largest selection of hydroponic equipment for home growers, professionals, and large-scale commercial operations. GrowersHouse was founded in 2011 and is based in Phoenix, Arizona.

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Buyer(S) 2

Buyer

RLJ Equity Partners

Bethesda, Maryland, United States

Category Private Equity Firm
Founded 2006
PE ASSETS 850M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

RLJ Equity Partners LLC is a private equity firm focused on long term investments in North American middle-market companies. The Firm looks to invest $15 to $40 million per transaction in companies valued between $50 and $250 million. RLJ targets companies operating in the fields of aerospace/defense, auto/transportation, business services, consumer retail, media, and telecom. Types of transactions include corporate divestitures, buyouts, recapitalizations, growth equity, and add-on acquisitions. RLJ Equity Partners LLC was formed in 2006 and is based in Bethesda, Maryland.


DEAL STATS #
Overall 16 of 18
Sector (Machinery) 1 of 1
Type (Recapitalization) 1 of 1
State (Arizona) 1 of 1
Country (United States) 13 of 15
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-30 LAI International

Westminster, Maryland, United States

LAI International, Inc. is a contract manufacturer to make complete precision-engineered components and assemblies for the aerospace, power generation, defense, medical and other advanced technology industries. LAI International was established in 1979 and is based in Westminster, Maryland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-30 Flow Service Partners

Mount Juliet, Tennessee, United States

Flow Service Partners is a provider of essential services including heating, ventilation, air conditioning, and refrigeration ("HVACR") and plumbing services in Florida and Indiana. Flow Service Partners was founded in 2021 and is based in Mount Juliet, Tennessee.

Buy -
Buyer

Cave Creek Capital Management

Phoenix, Arizona, United States

Investor Investor Investor


Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Cave Creek Capital LLC is a growth investor with the flexibility of a family office, the talent of a major firm, and a much wider range of capital solutions than traditional Private Equity funds. Cave Creek looks to commit equity and mezzanine Investments of $5M to $25M and Companies with $20M to $150M of Revenues. Areas of interest include Business Services, Consumer Products & Services, Specialty Retail & Distribution, Healthcare Services, and Specialty Manufacturing. Cave Creek Capital Management was formed in 2004 and is based in Scottsdale, Arizona.


DEAL STATS #
Overall 12 of 12
Sector (Machinery) 1 of 1
Type (Recapitalization) 6 of 6
State (Arizona) 4 of 4
Country (United States) 11 of 11
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-24 Air Waves

Lewis Center, Ohio, United States

Air Waves is a provider of on-demand garment printing and fulfillment services for major online retailers. Air Waves design, source, print, and fulfill private label programs that mitigate inventory risks and maximize revenue. Air Waves was founded in 1983 and is based in Lewis Center, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-30 Air Waves

Lewis Center, Ohio, United States

Air Waves is a provider of on-demand garment printing and fulfillment services for major online retailers. Air Waves design, source, print, and fulfill private label programs that mitigate inventory risks and maximize revenue. Air Waves was founded in 1983 and is based in Lewis Center, Ohio.

Sell -