Hydrobuilder Holdings Acquires Hydrobuilder.com and GreenCoast Hydroponics to Type a Leading Omni-channel Seller of Specialty Agriculture and Hydroponics Gear and Supplies
Secures over $70 million in financing from broad foundation of investors
PALM Seashore, Fla.-January 15, 2021-(Business enterprise WIRE)–Hydrobuilder Holdings LLC (“Hydrobuilder Holdings”) today announced its formation via the acquisitions of Hydrobuilder.com, a top on the net retailer of hydroponics and horticultural provides, and GreenCoast Hydroponics, the second major hydroponics retailer in the United States, to make a foremost omni-channel retailer of specialty agriculture and hydroponics machines and provides. Hydrobuilder Holdings secured about $70 million in financing from a broad group of traders, led by Broadband Money Investments. As component of the transaction, the sellers of both of those Hydrobuilder.com and GreenCoast Hydroponics retained a significant fairness stake in Hydrobuilder Holdings.
Hydrobuilder Holdings will be led by Markus Hockenson, Main Govt Officer, and Avi Levine, Main Monetary Officer, both of whom convey in depth electronic and retail encounter, and a established keep track of report of driving earnings, earnings advancement and value generation at non-public-equity owned businesses. Hydrobuilder.com and GreenCoast will continue on to be operated by their current administration groups below the newly-shaped Hydrobuilder Holdings system and considerably all group associates from Hydrobuilder.com and GreenCoast will stay with Hydrobuilder Holdings.
Mr. Hockenson previously served as President and Chief Govt Officer of Worldwide Car or truck Clean Group and Eyesight Team Holdings, and has served in leadership positions at Business Rent-a-Automobile, Starbucks, Progress Auto Pieces, and TBC Company (Tire Kingdom). Mr. Levine previously served as Chief Fiscal Officer of Intercontinental Motor vehicle Clean Team, and has additional expertise at Deloitte Consulting, Versa Cash Administration, Flashpoint Higher education and Driven Brand names.
“We are psyched to carry jointly two tested leaders in hydroponics e-commerce and brick-and-mortar retail as the initial partnerships within just Hydrobuilder Holdings, which we feel is poised to be a leading omni-channel seller of specialty agriculture and hydroponics gear and supplies,” mentioned Hockenson.
Hydrobuilder Holdings is uniquely positioned to supply business growers and home gardeners with the greatest level of company, product collection, education and learning and worth.
Markus Hockenson, Chief Executive Officer
With solid trader assist and sizeable stick to-on curiosity from our buyers, we have substantial advancement funds to execute our natural and organic and M&A progress approaches, and see major chances to extend these corporations in the promptly developing hydroponics, specialty gardening and controlled natural environment agriculture (CEA) marketplaces.
Hydrobuilder.com Founder and President, Justin Marshall, commented, “Partnering with GreenCoast and becoming a member of Hydrobuilder Holdings is a desire appear legitimate. I am exceptionally grateful and excited to be working alongside these gurus and pioneers inside the hydroponics business as effectively as specialists from several exterior small business ventures. The blended understanding and knowledge will enable us to acquire the Hydrobuilder.com platform and implement it to some of the most effective brick-and-mortar outlets in our room by using our custom made IT infrastructure, which improves automation whilst also offering an omni-channel method to income for our consumers. With this blend we’ll be ready to scale and automate at a considerably increased speed than what was doable on our possess. The volume of industry and historical knowledge will let us to further situation ourselves as a top on-line retailer of hydroponics devices and supplies.”
Jordan Weiss, Chief Executive Officer of GreenCoast Hydroponics, claimed, “We could not be far more energized to see our enterprise establish and develop into an omni-channel countrywide design. This will far better combine and assist our customers’ demands across all of our three pillars: e-commerce, retail and business. Along with greater serving our consumers, we sense good about how this partnership will guidance our staff and the society that we have labored 20+ a long time to build.”
Michael Rapp, Controlling Companion of Broadband Funds Investments, extra, “We are thrilled to be investing in the development of Hydrobuilder Holdings. Justin, Jordan and their respective groups have built finest-in-class businesses and have deep area know-how. Markus and Avi are entire world course executives who realize how to drive efficiencies and scale enterprises, equally organically and by way of acquisitions. We are serving a nascent but fast growing conclude market place and our customers are in require of a local offer chain spouse who can give a suite of goods and services to solve issues and add benefit. We are thrilled by this prospect and we glance forward to building a foremost business in this area.”
Founded in 2011, Hydrobuilder.com is based in Northern California and has rapidly developed to turn out to be a top on the internet retailer of hydroponics and horticultural provides. The management crew earlier assisted Establish.com mature to in excess of $1 billion in revenue, and has constructed Hydrobuilder.com into a entire on-line hydroponic gardening heart that is identified for obtaining the best merchandise traces, a quick, person-pleasant website and well-informed staff members.
About GreenCoast Hydroponics
Launched in 1999, GreenCoast is a Southern California-based mostly specialty agriculture / hydroponics merchandise retailer and the premier unbiased retailer of its form in the United States. GreenCoast operates 12 shops (10 in California, 1 in Las Vegas and 1 in Portland, OR), that present tools, plant consumable products and style and design products and services to growers ranging from the hobbyist to the most significant certified professional operators. Senior administration is acknowledged through the market as gurus in design of large-scale industrial growing services.
About Broadband Money Investments
Broadband Cash Investment (BCI) is a boutique merchant financial institution which invests in significant advancement industries. BCI (and/or its affiliates) was the founding trader in Vroom.com (Nasdaq: VRM), a major utilised motor vehicle e-commerce business, co-led the administration buyout of Hydrofarm Holdings (Nasdaq: HYFM), a primary hydroponics maker and distributor, prior to its initial community presenting, and invested in Montrose Environmental (NYSE: MEG), an environmental providers service provider supplying measurement & analytical companies as nicely as environmental resiliency & sustainability methods.
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