A Chattanooga firm was an adviser in the sale of a company that will help grow an artificial grass business with major operations in Dalton, Georgia, and Dayton, Tennessee.
FourBridges Capital Advisors advised Midwest Sport and Turf Systems in its acquisition by TenCate Grass, according to the firm.
Founded in 2013 by Jody Factor, Illinois-based Midwest Sport is a provider and constructor of synthetic turf systems for schools, universities, municipalities and other customers throughout the Midwest, according to FourBridges.
Factor said the transaction will provide an opportunity for the company and its employees to succeed in a competitive industry.
"We are excited about working with TenCate Grass in the U.S. and beyond," Factor said in a statement.
Joe Fields, chief executive of TenCate Grass North America, said in a statement Midwest Sport has "a great reputation as one of the top turf companies in the U.S. This acquisition will further enhance our ability to offer a vertically integrated solution to our customers from coast to coast."
The acquisition price wasn't announced.
TenCate is a global leader in the development, production and marketing of synthetic turf components. Based in the Netherlands, TenCate serves customers in more than 60 countries, with production facilities in North America, including in Dalton and Dayton, as well as in Europe, the Middle East and Asia-Pacific.
For the third time in six years, FourBridges represented a client in a sale to TenCate Grass, according to the adviser. In 2018, FourBridges represented Challenger Industries in a sale to TenCate, followed by TenCate's acquisition of Geo-Surfaces.
Chris Rowe, managing director of FourBridges, said TenCate is "an ideal fit on both a cultural and strategic level" for Midwest Sport.
— Compiled by Mike Pare