Hines Nurseries is one of the largest commercial nursery operators in the North America, producing a broad assortment of ornamental shrubs and color and container-grown plants, primarily for consumer outdoor use. The company operates six nurseries in four states totaling nearly 3,100 acres of land and sells to national "big box" retailers such as The Home Depot, Lowe's Companies, and Wal-Mart.
The company experienced a challenging operating environment and entered into a Chapter 11 bankruptcy filing in 2008. New owners acquired the business in 2009 and subsequently faced additional financial difficulties, filing for Chapter 11 bankruptcy in 2010.
Candlewood Partners was engaged by the company to conduct a Sec. 363 sale process and auction. In connection with the sale, Candlewood marketed the company to a broad universe of both financial and strategic buyers, and negotiated and closed the transaction with Black Diamond Capital Management.
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Candlewood Partners, LLC
Established 2001
