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Westbury Group Advises Growers House on its Growth Recapitalization by RLJ Equity and Cave Creek Capital

Westport, CT – June 1, 2021 – Westbury Group LLC (“Westbury”) announced today the growth recapitalization of Growers House Holdings LLC (“Growers House”) by RLJ Equity Partners, LLC (“RLJ Equity”) and Cave Creek Capital Management, LLC (“Cave Creek Capital”). The transaction closed in April 2021. Jonathan Rubin and Jim Whitcomb led the investment banking team for Westbury.

Growers House is a leading digitally native, omni-channel hydroponic equipment and supplies retailer servicing the specialty agriculture industry. Growers House and its subsidiaries combine the creation of proprietary, industry-leading video content with one of the largest assortments and seasoned cultivation experts to provide full-service retail and consulting to commercial and hobbyist growers alike, highlighting and defining the future of cultivation products and methodologies.

The recapitalization retains Co-Founder & Co-CEO Nate Lipton, his Co-CEO Angela Kapp, and the company’s management team. The team will use its deep connections with the industry’s pre-eminent growers and cultivation facilities to develop innovative products, and will leverage its compelling content brands, such as Canna Cribs, to bring them to market. The company’s new investors will provide the necessary capital to accelerate its omni-channel growth, develop more world class content for its rapidly expanding base, expand into new markets and offer best-in-class services and products to B2B and B2C customers.

In addition to the continued development of the hydro industry’s leading e-commerce platform, Growers House will solidify its market leading business in Arizona with the addition of a second retail store, this one in Phoenix, and will begin serving international customers on its site, http://www.growershouse.com.

“We’d like to thank the Westbury team for their help in taking us through this transaction, especially in the midst of the upheaval of the pandemic. The outcome was just what we sought – with two great financial firms now working with us,” noted Nate.

Angela added, “Jim, Jon, and the team never flagged in their support and we appreciate the professionalism they brought to the effort.”

Mr. Rubin said, “It was a pleasure to complete this transaction with such a talented team, as well as RLJ and Cave Creek, who brought creativity and a sharp analytical focus to the deal.”

Jim Whitcomb noted, “The Growers House team has built an industry-leading e-commerce business. With the backing of their new investors, we look forward to seeing their continued leadership in the Hydro sector.”

About Westbury Group

Westbury Group LLC (www.westburygroup.com) is an investment bank dedicated to providing exceptional financial and strategic advisory services for premier middle market companies. Headquartered in Westport, Connecticut, Westbury’s bankers serve clients across the country. Westbury’s finance professionals bring transactional and real-world operations experience to engagements ranging from $25 million to $300+ million. assisting clients with mergers, acquisitions, raising equity capital, and supporting management and boards with advisory services. Westbury Group is a FINRA-registered Broker-Dealer and a member of the International Corporate Finance Group (www.icfg.net).

About Growers House

Founded in 2011 by Nate Lipton and Paul Lipton, Growers House is based in Tucson, Arizona and has rapidly grown to become a leading digitally native, omni-channel hydroponic equipment and supplies retailer servicing the specialty agriculture industry. Nate and Angela Kapp serve as Co-CEOs. www.growershouse.com

About RLJ Equity

RLJ Equity Partners, founded in 2006, is a middle-market private equity firm focused on generating long-term capital appreciation by investing in profitable and growing businesses led by strong management teams. RLJ Private Equity is an affiliate of The RLJ Companies, founded by Robert L. Johnson, the Founder of Black Entertainment Television (BET). RLJ Private Equity invests in traditional buy-outs, recapitalizations, and growth capital infusions and is based in Bethesda, Maryland. www.rljequity.com. 

About Cave Creek Capital

Cave Creek Capital Management is a lower middle-market private equity firm that partners with management teams to focus on generating long-term value for portfolio companies by enhancing growth and competitive position. Cave Creek seeks to invest in targeted industries with asset-light business models, bringing over 20 years of transaction experience while completing over 30 investments in the form of equity or mezzanine debt. Cave Creek is based in Phoenix, Arizona. www.cavecreekcapital.com

Short description: 
Leading hydroponic equipment and supplies omni-channel retailer partners with two leading private equity firms.