Clearview Capital’s Controlled Products acquires Purchase Green
Clearview Capital Fund III’s portfolio company, Controlled Products (Controlled Products) and its affiliates, have acquired a majority stake in Purchase Green, and Path to Prosperity, (Purchase Green).
The transaction, which closed on 20 November, 2019, included a significant reinvestment by the management team who will remain in their current roles to run the Company.
Purchase Green is a specialised distributor of premium quality synthetic turf primarily for landscape and specialty applications. Its products are sold in West and South West USA under the Purchase Green brand through a network of corporate-owned stores and third-party exclusive dealers. Purchase Green is headquartered at its master distribution site in Pomona, California.
“We were impressed with Tony and Nick Vena, and their entire Purchase Green team from day one,” says Paul Caliento, Partner at Clearview Capital. “Purchase Green has experienced impressive growth during the past ten years driven by management’s exceptional command of the turf industry and the Company’s deep digital marketing expertise. We see a great opportunity for the combined entity to accelerate growth by sharing and capitalising on the strengths of the individual businesses. The teams are an excellent fit with one another.”
The acquisition brings complementary capabilities to each business unit. Purchase Green’s distribution model allows for broader access and improved distribution in previously untapped markets for Controlled Products. Controlled Product’s size and custom manufacturing capabilities provide Purchase Green a broader product line of quality US-manufactured synthetic turf as well as a deeper level of expertise in the indoor and outdoor field market via its SporTurf brand.
“This combination allows each business unit to better serve our North American customer base,” says Scott Lowrie, CEO of Controlled Products. “We have a terrific opportunity to leverage each company’s strengths to the benefit of the combined entity.”
“Controlled Products provides us with new opportunities and access to capital to accelerate our growth plans while offering a broader spectrum of solutions for our customers,” says Tony Vena, CEO at Purchase Green.”