CHICAGO and GURNEE, Ill., Dec. 11, 2024 (GLOBE NEWSWIRE) -- Granite Creek Capital Partners, L.L.C. (“Granite Creek”), a private investment firm based in Chicago, today announced its investment in Seedbox Solution (“Seedbox” or the “Company”), a full-service provider of reusable packaging and fleet management solutions to the seed industry. In addition to making available significant growth capital, Granite Creek’s investment supported the management-led buyout of the Company’s previous majority shareholder.
The investment was made in partnership with Granite Creek operating partner and seed industry leader Jim Zimmer. Everside Capital Partners and Hidden River Strategic Capital provided co-investments into the transaction.
Seedbox was founded with the goal of making bulk, reusable seed boxes simpler, easier and more affordable. The Company distributes its boxes globally while supporting seed producers with servicing operations throughout the Midwest. With its largest facilities in Good Hope, ILL. and Shenandoah, Iowa, Seedbox is positioned to deeply integrate with its customers’ supply chains.
Co-founder and CEO Matt Dannenfeldt and CFO Mike Klug have been with the Company since its inception in 2014 and lead the Company alongside Executive Vice President of Sales, Jon Bertolino; Director of Business Development, Joe Waldman and Director of Operations, Quintin Bucher.
"We are honored to partner with the Seedbox team and are excited to back management’s purchase of the business from its prior corporate parent,” said Peter Lehman, Co-Founder and Partner at Granite Creek. “Starting with just an idea, Matt and his team have created the leading player in the industry, guided by a singular focus centered around making managing seed boxes easier and more efficient for seed producers.”
“We look forward to working with Granite Creek and Jim Zimmer, whose deep experience and connectivity in the seed industry will be invaluable as we embark on this next chapter of growth,” said Seedbox Co-Founder and CEO, Matt Dannenfeldt. “This partnership positions us to invest in a variety of growth initiatives to better serve our customers, including expanding our seed box wash and repair business and growing our unified box rental/service. We will also be able to expedite the introduction of cutting edge ‘smart box’ technology, allowing our customers to monitor seed product location, health, and status in real-time through the supply chain.”
In conjunction with Granite Creek’s investment in Seedbox, Peter Lehman and Jim Zimmer will join the Company’s board of directors. Zimmer is the Co-Founder and Managing Partner of Moraine Farmland Partners, a Granite Creek platform extension focused on acquiring and operating Midwestern farmland.
About Seedbox Solution
Headquartered in Gurnee, ILL., with operating sites in Good Hope, ILL. and Shenandoah, Iowa, Seedbox is a full-service provider of reusable packaging and fleet management solutions to the row crop seed industry with a focus on plastic seed boxes. With over 75 years of combined expertise in reusable packaging systems, Seedbox is focused on providing products and services that make using bulk plastic seed boxes simpler, easier, and more affordable.
About Granite Creek Capital Partners
Founded in 2005, Granite Creek Capital Partners, L.L.C. is a Chicago-based private investment firm focused on providing capital and operational resources to lower middle market companies engaged in manufacturing, business services, healthcare, and agribusiness. With an experienced team of investment professionals bringing expertise in private equity, banking, operations, and business development, Granite Creek has a successful track record of investing in and supporting its portfolio companies. Granite Creek has been named to Inc.’s Founder-Friendly Investors list for five consecutive years, honoring the private equity and venture capital firms with the best track record of success backing entrepreneurs. For more information on Granite Creek, visit www.granitecreek.com or call 312-895-4500.
For more media information, contact:
Lisa Hendrickson, LCH Communications for Granite Creek
516-643-1642
lisa@lchcommunications.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/0fbe0fc5-9581-4a94-9c93-044f94cd9acf
