pehub.com – High Road Capital Partners (www.highroadcap.com) announced today that it has acquired Cali Bamboo, LLC (www.calibamboo.com), marking High Road Capital Partners Fund II’s fifth platform acquisition. The transaction closed July 10, 2015.
Cali Bamboo is a leading manufacturer and direct-to-consumer retailer of bamboo flooring and sustainable building products. Based in San Diego, California, the company offers bamboo flooring, composite decking, bamboo plywood, eucalyptus flooring, bamboo fencing, and cork tiles. Bamboo is among the fasting-growing plants on Earth, making it an environmentally sustainable alternative to conventional hardwoods.
“Cali Bamboo prides itself on providing the highest-quality, sustainable building products, along with delivering an outstanding customer experience. Since founding the company in 2004 as a direct-to-consumer, online retailer of bamboo building products, we have served more than 250,000 customers,” said Jeff Goldberg, founder and CEO of Cali Bamboo. “We are building a presence in other distribution channels, including a rollout with a premier home improvement retailer. High Road will provide guidance and resources to support the rapid growth of our business,” Goldberg said.
“Green building products are a rapidly growing segment of the new construction and remodeling markets. Consumers and businesses are seeing the aesthetic, economic and environmental benefits of bamboo and other renewable materials over traditional hardwoods,” said Ben Schnakenberg, High Road Partner. “Cali Bamboo is a pioneer in bamboo flooring and continues to lead the industry in growth and innovation. We look forward to working with Cali Bamboo’s entrepreneurial team to leverage the company’s strong brand across new product categories and to more fully develop multiple distribution channels,” Schnakenberg said.
Ben Schnakenberg led the transaction for High Road and was assisted by Jerry Anderson, Operating Partner; Scott Rubino, Vice President; and James Karle, Associate. Monroe Capital provided financing for the transaction. Cali Bamboo co-founders Jeff Goldberg, CEO, and Tanner Haigwood, Vice President of Business Development, invested in the transaction alongside High Road and will continue to lead the company post-closing. Cali Bamboo was represented in the transaction by Shoreline Partners, LLC. Transaction consideration was not disclosed.
High Road has completed 37 transactions, comprising 33 acquisitions – 14 platform investments, 19 add-on acquisitions – and four exits since its founding in 2007.