RICHMOND, VA – Riverbend Nursery, Inc. has been acquired by Superior Street Partners, an Ohio-based middle-market focused private equity group. The transaction closed on July 17, 2014. Terms of the deal were not disclosed. The new operating company, Riverbend Nursery, LLC, is owned by Riverbend Nursery Holdings, LLC, the investment entity formed and managed by Superior Street Partners.
Jon Herbst, President of Superior Street Partners, notes: “The core operations and focus on quality production and superior customer service will remain unchanged post acquisition. We view the investment as an opportunity to partner with Jim Snyder, Founder and CEO of Riverbend, and a successfully built operation, which includes a solid level of next generation management. Our plan is to carefully further expand the plant segment and green roof business, which is still a relatively young market and presents a significant growth opportunity.”
Jim Snyder adds: “The transaction enables Riverbend to further grow and expand the business, bringing new opportunities and room for growth to both employees and customers. Having this type of long-term partner secures our future as a continued leader in the perennial and green roof industries, and their interest in maintaining operations aligned well with our commitment to superior products and customer service.”
Based in Riner, Virginia, Riverbend Nursery is a leading producer and distributer of perennial plants, herbs, and ground cover, with sales primarily to the independent garden center and landscape contractor markets. Riverbend also produces and markets a green roof product in the Mid-Atlantic region, under the LiveRoof® name. The company was founded in 1984 by Jim Snyder, who will remain Chief Executive Officer.
From a press release.