For Immediate Release
Monument MicroCap Partners, LLC (“Monument”), a Midwest-based private equity firm with offices in Bloomfield Hills, Michigan and Indianapolis, Indiana, announced today that on August 22, 2023, it closed a transaction with EarthWay Products, LLC (“EarthWay” or “the Company”). Based in Bristol, Indiana, EarthWay is a manufacturer and innovator of precision lawn & garden products including spreaders, gardening tools, ice control equipment and related accessories. With a history spanning more than 55 years, the Company serves professional turf managers, master gardeners, snow removal professionals, and chemical applicators across both commercial and consumer sales channels.
“We are very excited to partner with Monument as we accelerate the next phase of EarthWay’s growth plan”, said John Marshall, CEO and President of the Company. “Monument will provide us with the strategic support and capital as we expand our product platform and grow across various sales channels, both organically and through add-on acquisitions. EarthWay and Monument share the same cultural values and vision for the future of EarthWay, its customers, and its employees. We are enthusiastic about what the future holds. Our clients desire to consolidate their supply base and we are confident that EarthWay can help them achieve this business objective.”
“We are grateful for the opportunity to partner with John and the Company’s outstanding management team,” said Tim Hildebrand, President of Monument. “The Company’s superior product quality, operational efficiency, and engineering capabilities are very strong differentiators in this market. We look forward to working with John and his team as we collectively seek to aggressively expand the business through further acquisitions.”
Monument has completed eighteen acquisitions since the firm’s inception over the last 5 years, including six platform acquisitions and twelve add-on acquisitions.
About Monument MicroCap Partners, LLC
Monument is a Midwest-based private equity firm focused on investments in North American businesses with EBITDA of $2-8 million. Monument seeks to partner with honest, hard-working and talented management teams across a wide variety of industries, including niche manufacturing, business services and industries positioned to capitalize on demographic trends and the growing need for infrastructure investment.