CapitalSouth SBIC Fund IV, L.P. announced it recently invested in CT Gardens Holdings, LLC in connection with a recapitalization of CT Gardens, Inc. (“CT Gardens” or the “Company”, d/b/a “myAgway”) in a combination of senior debt and equity. CapitalSouth Growth Fund invested alongside an operating partner and existing management, who invested equity in the transaction.
Headquartered in North Branford, Connecticut, CT Gardens is the largest Agway dealership in Connecticut and operates under the myAgway brand. The Company operates six freestanding retail outlets in the western and central parts of the state: two in New Haven County, two in Hartford County, one in Middlesex County and one in Fairfield County. The Company offers national brands as well as Agway branded products, including pet food and supplies, lawn, garden and nursery, wild bird food and supplies, grills, patio furniture, farm feed & supplies, propane and wood pellets. CT Gardens also sells seasonal products such as live Christmas trees, wreaths and greens at all stores. myAgway offers a uniquely convenient shopping experience with an emphasis on superior customer service, excellent product knowledge and an unmatched variety and depth of products at competitive pricing.
Capitala Group’s investment will help the Company’s next phase of growth.
K&L Gates LLP acted as legal counsel to Capitala Group. Wiggin and Dana LLP acted as legal counsel to CT Gardens, Inc. and Woodbridge International acted as financial advisor.
Capitala Group is a leading provider of capital to lower and traditional middle-market companies, through its family of credit focused funds. Since 1998, Capitala Group's managed funds have participated in over 125 transactions, representing over $1 billion of investments in a variety of industries throughout North America. Capitala Group manages both public capital (Capitala Finance Corp.) (Nasdaq:CPTA)) and several private funds for institutional and individual investors, and seeks to partner with strong management teams to create value and serve as long term partners.
CapitalSouth Growth Fund and its CapitalSouth Partners predecessors were founded in 1998 to provide financial solutions to lower middle market companies. The CapitalSouth Growth Fund invests in mature companies, making debt and equity investments typically between $2 million and $10 million and invests in a variety of industries throughout the United States.