Clearview Capital Fund III LP of Old Greenwich has acquired a majority interest in Controlled Products LLC. The deal, which closed on March 22, includes what Fund III calls “a significant investment by the management team,” and is the sixth platform company established by Fund III.
The Dalton, Georgia-based Controlled Products manufactures and distributes premium quality synthetic turf for sports, training, landscape, leisure and specialty applications. Its products are sold to a national network of dealers and installers under the brand names SporTurf, GrassTex, and Synthetic Turf International. The company also delivers an array of turf products to original equipment manufacturers and large regional installation companies under private label arrangements.
“With the added benefit of Clearview’s experience and resources, we believe we can continue to capitalize on the growing acceptance of synthetic turf in a wide variety of applications,” said Controlled Products President and CEO Scott Lowrie.
Clearview Capital Partner Paul Caliento cited Controlled Products’ capacity for further success in the field turf segment as part of the reasoning behind the deal, adding, “We see an even stronger growth story coming from its non-field segments. Recent innovations make it hard to distinguish synthetics from the real thing, and the sheer number of application possibilities provide the company with exciting growth potential.”