Platte River Equity said Jan. 9 that it acquired a controlling stake in Sherrill Inc. Financial terms weren’t announced. Sherill, of Greensboro, North Carolina, distributes arborist tools and equipment in North America.
DENVER, Jan. 9, 2019 /PRNewswire/ — Platte River Equity (“Platte River”) announced today that it has acquired a controlling interest in Sherrill, Inc. (“Sherrill” or the “Company”). Headquartered in Greensboro, NC, Sherrill is the largest distributor of arborist tools and equipment in North America.
“We have had a great partnership with Generation Equity Capital for the last ten years and are looking forward to the next chapter in the company’s growth with a value-added partner like Platte River,” said Tripp Wyckoff, Sherrill’s CEO and President.
Matt D. Newill, Vice President of Platte River, stated, “Sherrill’s brand has been synonymous with great customer service and bringing innovative products to market, and we look forward to continuing this long tradition.” Peter W. Calamari, Managing Director of Platte River, said, “We are excited about our partnership with Tripp and the entire Sherrill team. We look forward to working with the Company to expand its distribution and digital marketing capabilities to better serve its trade partners and diverse customer base.”
Platte River invested out of its fourth fund, Platte River Equity IV, L.P., to acquire Sherrill. Bartlit Beck LLP served as legal counsel to Platte River. BMO Capital Markets provided financing for the transaction.
About Sherrill, Inc.
Founded in 1960 and based in Greensboro, NC, Sherrill is the world’s leading distributor and direct retailer of arborist tools and equipment. Sherrill’s vision is to become the world’s leading supplier to professionals who “Work Elevated”. These customers depend on Sherrill’s ropes, technical equipment and clothing to work and pursue their passions safely, efficiently and comfortably high above the ground. www.sherrilltree.com
About Platte River Equity
Based in Denver, CO, Platte River Equity is a private equity firm focused on equity investments in lower middle market operating companies with enterprise values generally between $40 million and $250 million. The firm invests in sectors where it has deep operating and investing experience, including aerospace & transportation; energy & infrastructure; agriculture & chemicals; and metals & minerals. Platte River has raised funds with committed capital in excess of $1.3 billion. www.platteriverequity.com