Clearview Capital has exited portfolio company Controlled Products Acquisition to mid-market buyout firm Sentinel Capital Partners.
Controlled Products produces synthetic turf for residential landscape, commercial, golf and indoor and outdoor fields. The firm said it has tripled in EBITDA since its investment in 2016.
Paul Caliento, partner at Clearview Capital, said, “With Controlled Products, we immediately saw an opportunity to partner with a highly-talented management team and a company that made great products. We recognized a rapid substitution play at work, especially as synthetic turf’s look and feel became almost indistinguishable from natural grass.
“Over the past five years, our focus was on building a deep national distribution network. As we accomplished that, revenue more than doubled and EBITDA nearly tripled.”
The investment was made out of Clearview Capital Fund III, which was closed on $325m in 2013. The fund typically invests between $15m to $75m per deal in companies in the business services, healthcare services, manufacturing and specialized distribution sectors.
Clearview also closed its Capital Fund IV on a $550m hard cap in 2018.
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