NEW YORK, March 10, 2015 (GLOBE NEWSWIRE) -- Centre Lane Partners, LLC ("Centre Lane"), a New York-based private investment firm, announced that the sale of Shemin Landscape Supply ("Shemin") to John Deere Landscapes ("JDL") has been completed. Financial terms of the transaction were not disclosed.
Shemin is a leading distributor and wholesaler of horticultural and landscape products to landscape professionals. It offers nursery stock ranging from woody ornamentals to annuals, perennials, specimens, and groundcovers. The company also provides commercial-grade tools, grass seeds, mulches, fertilizers, pesticides, stone and paver products, landscape irrigation and lighting products and pottery. Shemin operates 29 supply centers nationwide and is headquartered in Danbury, CT.
Centre Lane acquired Shemin in January 2013. "We are extremely proud of what the Shemin team accomplished during our ownership period," said Centre Lane Managing Director Kenneth Lau. "We would like to acknowledge and thank all of the company's employees for their hard work to get us to this point. By partnering with Shemin's management team and executing our initiatives we were able to achieve a substantial return for our investors."
"For 60 years Shemin has been a pioneer in the landscape supply industry. The strength of our investment partner, Centre Lane, allowed us to grow while continuing to invest for the Company's future," said Steffan Burns CEO of Shemin. "Now, we are very excited about the possibilities of combining Shemin and JDL, two industry leaders in the landscape supply services industry. We look forward to enhancing our mix of products and services while continuing to help our customers grow."
Lincoln International acted as the financial advisor to Shemin. Katten Muchen Rosenman LLP provided legal advice to Centre Lane and the company on the transaction.
About Centre Lane Partners, LLC
Centre Lane is a private investment firm managing approximately $700 million in investor commitments that focuses on making debt and equity, control and non-control, investments in North American middle market companies. Centre Lane targets companies with revenues between $20 and $500 million that have leading market positions and sustainable competitive advantages in their respective niches. We seek to invest $5 to $50 million per transaction. Industries targeted for investment are broad and diverse. Please visit www.centrelanepartners.com for a detailed review of our firm and portfolio.