Incline Equity Partners (“Incline”), a Pittsburgh-based private equity firm, is pleased to announce the sale of BFG Supply (“BFG” or the “Company”). BFG distributes a full line of professional horticulture and lawn & garden products including containers, growing media, chemicals, fertilizer, seed and greenhouse equipment to the green industry, which includes professional growers, regional lawn & garden centers, hydroponic and controlled environment agriculture. Incline partnered with the Company in January 2020.
Headquartered in Burton, OH, BFG provides third-party and proprietary branded products and offers customers solutions to better manage their supply chain through innovative technologies. With over 15,000 SKUs in stock, their comprehensive product offering provides a differentiated, one-stop solution to the market.
“We are proud to have worked closely with the management team to drive significant growth at BFG,” said Tom Ritchie, Partner at Incline. “During our ownership, we completed three highly strategic acquisitions and drove significant organic revenue growth. The acquisitions extended BFG’s geographic footprint and added meaningful service offerings like greenhouse design and manufacturing.”
Dave Daily, President and Chief Executive Officer of BFG, said, “Incline was an active partner that helped us strategically transform the business. Their technology expertise allowed us to make key investments in the build out of our virtual trade show booking system and enhanced our e-commerce capabilities. They also supported the expansion of the management team with the additions of a Chief Financial Officer and Chief Revenue Officer. The Company is very well-positioned for the future.”
About Incline Equity Partners:
Incline Equity Partners, headquartered in Pittsburgh, Pennsylvania, is a private equity firm investing in manufacturing, distribution and business services companies. Incline is generally seeking growing companies with enterprise values of $25 – $750 million. Incline’s typical investment types are ownership transitions for privately held businesses, buyouts and corporate divestitures within the U.S. and Canada.
Incline Management, L.P. (“IMLP”) is registered with the U.S. Securities and Exchange Commission as an investment adviser under the U.S. Investment Advisers Act of 1940, as amended. Registration as an investment adviser does not imply a certain level of skill or training. IMLP provides investment advisory services only to privately offered funds. IMLP does not solicit or make its services available to the public or other advisory clients. This press release is intended solely to provide information regarding Incline’s potential capabilities for prospective portfolio companies, and is not an offer to sell to any person, or a solicitation from any person of an offer to buy, any securities. The statements contained herein are not statements of any IMLP client fund or investor and do not describe any experience with or endorsement of IMLP as an investment adviser by any such client or investor.