Jan 13, 2015
Myers Industries Sells Lawn & Garden BusinessSource: Myers Industries

On Jan. 8, Myers Industries, Inc., announced it has entered into a definitive agreement to sell its Lawn & Garden business for $115 million to an entity controlled by Wingate Partners V, L.P., a private equity firm based in Dallas, Texas.

On Jan. 8, Myers Industries announced it has entered into a definitive agreement to sell its Lawn & Garden business for $115 million to an entity controlled by Wingate Partners V, L.P., a private equity firm based in Dallas, Texas.

The agreement is subject to applicable regulatory approvals and other customary closing conditions. No other financial terms and conditions were disclosed.

The transaction is expected to close in early 2015. William Blair & Company, LLC acted as exclusive financial adviser to Myers Industries.

Last June, Myers announced it had commenced the sale process of its Lawn & Garden business so it could streamline its business portfolio into material handling and distribution, and increase its focus on its core growth platforms.

Visit www.myersindustries.com to learn more.