Summit Park Recapitalizes Fast Growing Trees
February 8, 2018 • Charlotte, North Carolina and Fort Mill, South Carolina
Summit Park, a Charlotte-based private investment firm, is pleased to announce the recapitalization of Fast Growing Trees, LLC (“FGT” or “the Company”), a leading direct-to-consumer e-commerce retailer of trees and shrubs.
Based in Fort Mill, South Carolina, FGT offers consumers a broad variety of high-quality trees and shrubs through its websites fast-growing-trees.com and brighterblooms.com. The Company provides customers with a best-in-class e-commerce experience and access to over 900 products that are available for on-demand delivery, typically within two days of placing an order. FGT sources its products from a geographically diverse network of trusted suppliers and has built a reputation for offering high quality products and superior customer service in the online market for trees and shrubs.
Jim Johnson, co-Founding Partner of Summit Park said, “We are excited to partner with the founders and the rest of the FGT management team to build upon the tremendous historical success of the Company. We believe FGT is poised to capitalize on its leading position within an attractive and growing segment of the e-commerce market. Further, we believe we can provide additional resources that will allow the Company to grow its supplier base, optimize its digital marketing capabilities, and accelerate growth.”
Evan Felker, a Director at the Company, added, “With the significant growth opportunity ahead of the Company, now was the optimal time to bring on a partner. As a local firm with an outstanding track record and a collaborative, high-touch approach, we can think of no better partner than Summit Park. We are excited about the Company’s future and look forward to continuing to provide our customers with the highest quality products and best customer service in the industry.”
The transaction marks Summit Park’s sixth platform investment in its second fund, Summit Park II. Capstone Headwaters acted as exclusive financial advisor to Fast Growing Trees. Stellus Capital Management provided the debt financing for the transaction.
About Summit Park
Summit Park is a Charlotte, North Carolina-based private investment firm focused exclusively on the lower middle market. The firm invests across a range of industries, including business and consumer services, light manufacturing and value-added distribution in the Eastern half of the United States. The firm’s capital can be used to facilitate a change in ownership, to support expansion and growth, to provide partial liquidity to existing owners, or to support an industry consolidation plan. For more information, visit www.summitparkllc.com.