PETALUMA, Calif.--(BUSINESS WIRE)--Hydrofarm, LLC, a leading wholesaler and manufacturer of hydroponics equipment and horticultural products, announced today the Company has received a significant equity investment led by Serruya Private Equity Partners (SPE), a family managed private equity group with a heritage of developing brands. Additional institutional investors included Hawthorn Equity Partners and affiliates of Broadband Capital Investments.
“We are very pleased to partner with Serruya Private Equity, which has a proven track record and a history of successfully investing in and building businesses. SPE has worked with both public and private companies to accelerate their growth,” commented Chief Executive Officer of Hydrofarm, Peter Wardenburg. “It is the ideal time to add financial resources and experienced partners to our team, as we see the use of hydroponics at an inflection point where both commercial and private use are poised to accelerate. This partnership also provides us with the financial flexibility to acquire complementary assets that can grow our platform and accelerate our growth.”
“The team at Hydrofarm, led by Peter, has done an excellent job of building a scale business with market leadership and a superior quality product offering,” said Michael Serruya. “The market for indoor growing solutions is a large and rapidly expanding market being driven by business and consumer demand and regulatory changes that are likely to further expand the market over the next several years. We look forward to working with the team to execute their long term growth plan and capitalize on the substantial opportunity that lies ahead.”
The global hydroponics market value is anticipated to grow from $19.95 billion in 2015 to $27.33 billion in 2020, according to Research and Markets.1 Hydrofarm is well positioned to serve this growing specialty retail and online market from seven nationwide distribution centers strategically located across the country that allows for expedited order fulfillment.
About Hydrofarm LLC
Hydrofarm is one of the nation’s leading wholesalers and manufacturers of hydroponics equipment and horticultural products, including high intensity grow lights, climate control solutions and growing media. With more than 39 years in business, the Company is committed to being the number one wholesaler of horticultural products. Hydrofarm has seven nationwide distribution centers across the country to best serve its customers on a national scale. For more information please visit www.hydrofarm.com.
About Serruya Private Equity
Serruya Private Equity Inc. (SPE) is a Toronto-area based, family managed group that invests capital in a broad range of asset classes, with an emphasis on retail and real estate. SPE’s principals have a heritage of experience developing brands and its affiliates currently include global brands Yogen Fruz, Pinkberry and Swensens, with over one billion dollars of worldwide system revenue.
About Hawthorn Equity Partners
Hawthorn Equity Partners is a leading middle market private equity firm launched in 2005. Hawthorn has invested across a range of industries, investment types, company development stages and economic cycles to build successful companies. The firm specializes in complicated situations with companies that require growth and expansion capital, recapitalizations, brand revitalizations, inter-generational transfers, carve-outs and industry consolidations.
About Broadband Capital Investments
Broadband Capital Investments, LLC is a Florida based family office sponsor that opportunistically invests equity capital in growth-oriented companies. Prior investments by principals of the firm include Zynerba Pharmaceuticals (Nasdaq:ZYNE), vroom.com and Montrose Environmental Group.