Hydrofarm, a leading wholesaler and manufacturer of hydroponics equipment and horticultural products, has secured a significant equity investment led by Serruya Private Equity Partners (SPE), a family managed private equity group.
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,” says 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,” says 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 capitalise on the substantial opportunity that lies ahead.”
