June 7, 2021
Cascadia Private Capital, the merchant banking arm of Cascadia Capital, has completed its first sponsored acquisition, purchasing the assets of OVS Equipment Solutions LLC (“OVS-ES”), owned by Orchard & Vineyard Supply, a portfolio company of Clearview Capital. Cascadia Private Capital worked with a group of select family offices, industry partners and Cascadia principals with extensive agriculture experience to form a new entity, Oregon Equipment Sales, LLC (“OES”) and complete the 100% purchase of OVS-ES for an undisclosed amount.
For 45 years, OVS-ES has sold tractors and other agricultural equipment to the farming and consumer industry in the Willamette Valley, including brands such as Kubota, Land Pride, and STIHL, with retail locations throughout Oregon. Newly formed OES will continue as a Northwest leader in agricultural equipment sales and service. The formation of OES creates a larger dedicated dealer platform, creates significant operating efficiencies and has the ability to better service and grow its client base.
Cascadia Private Capital will partner with OES to drive revenue growth and develop an acquisition strategy of additional agriculture equipment dealers within Oregon, Washington, and Idaho. Cascadia Private Capital will actively oversee the operations and expansion strategy moving forward, and Brian Bogen, Managing Director and head of Cascadia Private Capital, will serve as OES President and Board Chairman.
“Cascadia is extremely excited to announce the closing of its first investment formed by Cascadia Private Capital,” noted Michael Butler, CEO and Chairman of Cascadia Capital. “The partnership with OES reflects the core mission of Private Capital, to assemble family offices and high net worth individuals to provide patient capital and strategic expertise to leading Pacific Northwest businesses. The Cascadia team has built long lasting relationships and deep experience in the agribusiness sector through our investment banking platform. Brian and team, along with Dave Roth, will leverage those experiences and relationships to propel the company’s growth and create long-term value for the business and its shareholders.”
“The OES team is looking forward to continue working with the Cascadia Private Capital,” said Dave Roth, General Manager of OES. “They are professional and diligent, and have put in significant time and effort to understand our business and our people, facilitating the carveout from Orchard & Vineyard Supply, and ensuring that the company was well positioned to execute its growth strategy on day one. They will be integral to further expansion of the dealership, providing strategic guidance that will enable OES to grow our footprint in the region.”
“The Private Capital team is thrilled to work with its family office partners, Dave Roth and the OES team going forward,” added Bogen. “OES is an established and trusted partner in the Willamette Valley, and recognized for quality and customer experience. The Private Capital team believes OES is the ideal platform for consolidation across the fragmented equipment dealer space in the Pacific Northwest and is looking forward to the long-term opportunities and relationship with OES and its people.”
To learn more about this transaction or the Cascadia Private Capital practice, please contact:
About Cascadia Private Capital
Cascadia Private Capital (“CPC”) is the merchant banking arm of Cascadia Capital, a leading middle market investment bank. CPC sponsors patient, direct investments in Pacific Northwest companies looking for alternatives to institutional capital by bringing in family office and other like-minded pools of capital together. CPC invests $5 to $50 million of equity in established cash-flowing businesses generating $1 to $25 million of EBITDA, and is ideal for situations in which owners are not seeking a full exit and are not ready for, or not a fit for, a traditional private equity partner. CPC commits to its portfolio companies long term and draws upon the full industry expertise, relationship network and market intelligence of Cascadia Capital to be true value-added partners for years to come.
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