Seacoast Capital & Galaxi Invest Non-Control Growth Capital in CityLeaf & Medallion
SAN FRANCISCO, Sept. 28, 2021 /PRNewswire/ -- Seacoast Capital ("Seacoast"), a lower middle market non-control growth capital investor, and Galaxi Group ("Galaxi"), a family office focused on lower middle market businesses, announced their joint $9.6 million subordinated debt and redeemable preferred stock investment in support of the strategic alliance between CityLeaf and Medallion Landscape. Combined, the companies now offer a complete suite of indoor and outdoor landscaping services in the San Francisco Bay area.
Through their alliance, the companies offer interior and exterior landscape design and maintenance; arbor care; living walls; moss walls; and holiday décor. Customers include corporate campuses; healthcare facilities; homeowners associations; and apartment complexes. Seacoast partnered with Galaxi to provide growth capital to extend the reach of the two companies, both geographic and strategic.
"We are excited about partnering with Seacoast Capital in support of this alliance," said Rich Bronstein, Managing Principal of Galaxi. Seacoast has been very supportive of our combined growth vision and helped us through a few bumps in the road to get to a very positive end result."
Added John Gates, CEO of Medallion, "Seacoast has been a pleasure to work with during a transaction that was far from plain vanilla. We are excited about our future and know we can rely on Seacoast to support us in our ongoing growth initiatives."
Jeff Holland, a Partner at Seacoast Capital said "This combination of two individually strong businesses into one strategic powerhouse in the landscaping space was attractive to us from day one. That, combined with the highly experienced management team and the decreased seasonality in the joint landscaping operations reinforced our investment thesis. We look forward to a long and prosperous relationship with both CityLeaf and Medallion."
Added Patrick Gengoux, a Vice President at Seacoast Capital, "Every participant in this transaction not only were high quality, experienced professionals, but also singularly focused on the going forward opportunities available to this strategic alliance. Seacoast's ability to fund the growth of the combined entities to improve their reach and strength is a natural fit with our investment model and the team presents a formidable competitor in the west coast landscaping space."
About Seacoast Capital
Founded in 1994, with offices in Boston, MA and San Francisco, CA Seacoast Capital invests non-controlling growth capital in partnership with management in lower middle market private companies. Seacoast is industry agnostic and typically invests $5 million to $25 million of capital in companies with $10 million or more in revenue and $2 million or more of EBITDA. Capital is used to support growth, refinancings, acquisitions, family ownership and wealth transfers, shareholder liquidity events, and partnership or management buyouts. Geographically, Seacoast invests anywhere in the United States. Since its inception, Seacoast has managed over $600 million of capital, which the firm has invested in 81 non-controlling transactions. Now managing its fourth fund, Seacoast Capital Partners IV, L.P., the firm continues to actively seek new investment opportunities. Learn more by visiting www.seacoastcapital.com.
About Galaxi Group
A family office founded in 2014, Galaxi Group is a technology-driven investor in lower middle market growing companies. Based in the San Francisco Bay area, the firm's flexible investment thesis allows it to invest in buyouts; majority recapitalizations; and growth capital opportunities in companies with $10 million to $50 million in revenue and $1 million to $5 million of EBITDA. Industries of interest include environmental and sustainability; business services; wellness; IT services; consumer products and experiences; and software. Most investments are headquartered in major U.S. metro areas.
Submit inquiries to:
Phil Curatilo, Principal & CMO
(978) 750-1319
[email protected]
SOURCE Seacoast Capital Managers LLC
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