New Mountain Announces Partnership with Profile Products
New Mountain Capital, LLC ("New Mountain"), a growth-oriented investment firm with over $35 billion in assets under management, announced today that it has closed its acquisition of Profile Products, LLC ("Profile" or the "Company"). Profile is a leading developer and manufacturer of highly engineered specialty agriscience materials that promote environmental sustainability, while delivering superior performance for horticulture, erosion control, and other specialty applications.
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Headquartered in Buffalo Grove, IL, Profile has developed a portfolio of highly innovative products designed to help its customers generate higher yields, reduce costs, and achieve environmentally sustainable outcomes. The Company has a long history of innovation that has resulted in the development of differentiated, IP-protected offerings used by customers across multiple end markets including horticulture, infrastructure services, sports fields, and others. Profile's Thermally Refined® wood fiber substrate product, HydraFiber®, has been engineered as a value-added component of horticultural growing media mixes, helping growers improve root development and water retention while offering cost advantages and greater environmental sustainability compared to legacy growing media.
Jim Tanner, CEO of Profile, stated, "I want to thank my team for their hard work and support in continuing to build this great company. While I'm extremely proud of what we've accomplished, we know there is considerable runway ahead of us and we are excited to partner with New Mountan, a like-minded, growth-oriented investor, who will support our vision for accelerated growth and the broadening of our solution portfolio."
"Through its track record of innovation, Profile has established itself as a dynamic leader in the green technology and horticulture markets," said Harris Kealey, Managing Director at New Mountain. "We believe Profile is positioned to benefit from favorable macro trends and will continue to take share in its end markets due to its products' superior performance, cost position, and environmentally sustainable attributes."
Gandharv Bedi, Director at New Mountain, added, "Profile quickly emerged to us as a uniquely attractive platform in both the agriscience and environmental sustainability sectors that New Mountain knows extremely well. We are excited to partner with Jim and his team to support Profile in its next phase of growth and look forward to investing towards continued product innovation, substantial capacity expansion, and strategic acquisitions to further expand Profile's value proposition for the horticulture and environmental solutions end markets."
About Profile Products
Based in Buffalo Grove, IL, PROFILE Products, LLC offers environmentally sound, site-specific solutions for soil modification, horticultural production, erosion control and plant establishment. As the leading manufacturer of hydraulically applied mulch and additives, horticulture substrates, as well as biotic and ceramic conditioners to amend soil, Profile offers on-site solutions and consultation to architects, land planners, contractors, developers and municipalities. Their team of agronomists, engineers and industry experts is supported through a worldwide network of experienced distributors. Profile … Solutions for your Environment™.
Additional information about Profile is available at www.profileproducts.com.
About New Mountain Capital
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit, and net lease real estate funds with over $35 billion in assets under management. New Mountain seeks out what it believes to be the highest quality leaders in carefully selected "defensive growth" industry sectors and works intensively with management to build the value of these companies.
Additional information about New Mountain Capital is available at www.newmountaincapital.com.
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