Private equity firm Mill Point Capital has purchased Nursery Supplies, Inc. from Lincolnshire Management. | Zoran Milosavljevic/Shutterstock
Nursery Supplies, Inc., which recycles tens of millions of pounds of plastic per year into plant pots and trays, has been sold by one private equity firm to another.
Kissimmee, Fla.-based Nursery Supplies, Inc. (NSI) has an in-house plastics recycling capability of over 40 million pounds a year. The company uses a variety of molding techniques to produce horticulture packaging for nurseries and greenhouses. NSI’s manufacturing facilities are located in Florida, Pennsylvania, Ohio and Texas, and it has distribution facilities at those locations and in California and Oregon.
According to an April 6 press release, the company’s now-former owner, a private equity firm called Lincolnshire Management, has sold NSI to a middle market private equity firm called Mill Point Capital, which is based in New York City. The financial terms of the deal weren’t disclosed.
“During our investment period the management team pursued various industry advancements around environmental sustainability and seamlessly integrated this into their operations,” TJ Maloney, CEO of New York City-based Lincolnshire Management, stated in the release. “We’re confident these advances position NSI for further growth.”
In its own release, Mill Point Capital cited the company’s recycling capabilities.
“The Company’s track record of delivering innovative solutions for its clients and differentiated capabilities, including their in-house plastic recycling platform, have positioned the Company for tremendous growth,” stated Antony Besso, partner for operations of Mill Point. Besso is also now executive chairman of NSI.
According to NSI’s website, the company in 2008 converted its feedstock to almost entirely recycled materials, which are used in NSI’s three pot manufacturing processes: blow molding, injection molding and thermoforming.
Lincolnshire Management still has a presence in that business, however. Its portfolio includes Desch Plantpak, a Netherlands-based plant pot and tray manufacturer that uses recycled resin.
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