Genesis Capital is pleased to announce Patten Seed Company (“Patten Seed” or the “Company”) has received a majority investment from Heartwood Partners® (formerly known as Capital Partners®). Patten Seed, a family-owned business for over 100 years, is one of the largest suppliers of turfgrass sod and seed in the U.S. The family will continue to be a significant shareholder in the Company and the existing management team, led by CEO Ben Copeland, Jr., will continue to manage and operate the business.
Jim Roquemore, Chairman of Patten Seed, said, “Genesis Capital did a tremendous job navigating our family through a complex process to achieve the best outcome for our Company, shareholders and employees.” Ben Copeland Jr., CEO of Patten Seed, added, “The team at Genesis Capital partnered with us every step of the way to make sure we secured the ideal investor group to meet our near term objectives as well as enable the continued long term growth of the Company.”
“Patten Seed distinguishes itself as an industry-leading producer of high-quality turfgrass products, providing customers a unique combination of operational expertise and a sophisticated commercial offering through its stores and eCommerce platform,” commented Andrea Vandersall, Vice President at Heartwood Partners. James Sidwa, Managing Director at Heartwood Partners said “We look forward to supporting management’s use of advanced farming technologies to drive continuous improvement in crop yields while ensuring the highest quality products for Patten’s customers.”
“Heartwood Partners is different from other private equity groups we considered: different in approach, with lower-debt and longer investment term and different in attitude, bringing additional resources and support. We feel that our partnership will allow us to supercharge the upward trajectory our business was already on,” stated Ben Copeland, Jr., CEO.
Genesis Capital, LLC served as financial adviser to Patten Seed Company, while Coleman Talley, LLP provided legal counsel and Henderson & Godbee, LLP and Bennett Thrasher, LLP served as Patten Seed’s accounting advisors. Heartwood Partners was represented in the transaction by Finn, Dixon & Herling, LLP for legal counsel and Alvarez & Marsal for financial and tax.
About Patten Seed Company
Patten Seed Company is one of the largest suppliers of turfgrass sod and seed in the U.S. serving residential and commercial landscapes, sports facilities, golf courses, campuses and other markets throughout the Southeast. Patten Seed produces and distributes a variety of sod, seed, fertilizer, soil and other lawn & garden products from its strategically-placed farm and retail store locations across the Southeast.
About Heartwood Partners
Heartwood Partners is focused on partnering with family and management-owners. Their approach includes robust capital structures and providing strategic, human resources development, and marketing and e-commerce expertise, to support long-term growth, including organic and acquisition-driven expansion into new products, services and end markets.