Press release
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Investment Banking

Mesirow Advises PlayGreen and its subsidiaries, Stadium Grow Lighting and ALVA Technology, on its Sale to Bruin Capital

  • PlayGreen's proprietary turf management technology, data and monitoring solutions, interconnected through the "PitchOS" operating system, support over 600 professional sports teams worldwide to manage the quality and performance of natural grass playing surfaces in major stadiums and venues worldwide across a variety of sports leagues including the English Premier League, La Liga, MLS, NFL, MLB, NCAA and the PGA, among others. 
  • As a result of a competitive global sale process, Bruin Capital was chosen as the ideal partner given its track record for creating value in the sports and entertainment industry and helping disruptive digital and technology companies expand into the U.S. market 
  • Mesirow acted as the exclusive financial advisor on this transaction, highlighting the firm's continued track record in the AgTech and SportsTech segments within the Technology sector
Chicago
|
May 29, 2024

Mesirow, an independent, employee-owned financial services firm, has announced it acted as the exclusive financial advisor to PlayGreen Holding B.V. ("PlayGreen" or the "Company") and its subsidiaries, Stadium Grow Lighting ("SGL") and ALVA Technology ("ALVA"), on its sale to Bruin Capital ("Bruin").

PlayGreen, a holding company located in the Netherlands, is the world's leading turf management technology company, responsible for developing and maintaining natural grass playing surfaces in sports including, football (soccer), American football, baseball, golf, tennis, rugby, cricket and other professional and amateur sports for more than 600 international sports teams, leagues, and governing bodies worldwide. Among these prestigious long-term clients are prominent sporting clubs like Arsenal, FC Barcelona, Bayern Munich, Dallas Cowboys, Green Bay Packers, Boston Red Sox, PGA-sponsored tournament golf courses and hundreds of other blue-chip customers. The Company provides solutions through a proprietary, interconnected platform, including lighting and monitoring products, driven by nearly 30 years of proprietary data points, to optimize natural grass growth conditions and thus maximize quality of play, player safety and commercialization for the world?s leading sporting venues. PlayGreen is known in the market through SGL, while internal technology solutions are developed within the ALVA division. The partnership with Bruin will allow the Company to accelerate growth, especially into North America, collegiate athletics and golf, thanks to Bruin?s long-term sports industry relationships and operating expertise in the U.S. market. 

"Mesirow's work was exemplary throughout the entire process. Their relationships and deep industry experience were instrumental in bringing this transaction to fruition." said Mark Trubenbacher, President of PlayGreen. "We are thrilled to partner with Bruin Capital in bringing together their network in sports and understanding of sports entertainment for our next phase of growth."

Shane McDaniel, Managing Director of Mesirow Investment Banking, said, 'We are honored with the opportunity to represent PlayGreen in this important transaction. PlayGreen?s subsidiary, Stadium Grow Lighting, is a perfect example of how technology complements the sports industry. We believe Bruin Capital is the ideal partner for PlayGreen and will help further the Company's long term growth objectives."

The sale of PlayGreen represents another successful client transaction within the Technology sector completed by Mesirow Investment Banking. Mesirow Investment Banking has completed over 325 transactions in recent years across its covered verticals. Committed to leveraging extensive sector-specific expertise across industry groups and nurturing deep longstanding relationships, Mesirow has a proven track record of completing highly tailored and successful transactions on behalf of its clients.

About Mesirow 
Mesirow is an independent, employee-owned financial services firm founded in 1937. Headquartered in Chicago, with offices around the world, we serve clients through a personal, custom approach to reaching financial goals and acting as a force for social good. With capabilities spanning Global Investment Management, Capital Markets & Investment Banking, and Advisory Services, we invest in what matters: our clients, our communities and our culture. To learn more, visit mesirow.com and follow us on LinkedIn and subscribe to Spark, our quarterly newsletter.

Mesirow was recently named one of the Best Places to Work in Chicago by Crain's Chicago Business and one of the Top 100 RIA firms by Barron's.

About Stadium Grow Lighting
Headquartered in Waddinxveen, the Netherlands, PlayGreen, with its two main subsidiaries, Stadium Grow Lighting (sglsystem.com) and ALVA Technology, is a leading horticultural technology company, specialized in the design, development and manufacturing of innovative lighting and monitoring solutions for grass growing in controlled environments (i.e. sport venues). Stadium Grow Lighting provides the biggest sports venues and clubs worldwide with data-driven technology, predictive analytics and expert support to maintain a consistent, high-quality, and safe grass playing surface in the most sustainable way possible. The extensive research and support from SGL's agronomy department has developed proprietary growth models to assure customers use the Company?s technology, data, and monitoring products as effectively and efficiently as possible to guarantee the highest possible grass quality and maximum energy savings. Visit sglsystem.com for more.

About Bruin Capital
Founded in 2015 by George Pyne, Bruin is an Investment/Operating Company Specializing in Global Sports. Since its launch, Bruin has raised more than $1B in committed capital and has closed nearly 40 acquisitions. The current portfolio includes Engine Shop, Fair Play Sports Media, Full Swing, Proof of the Pudding, Soulsight, and TGI Sport. Their collective operations include more than 5000 employees across five continents. Their work impacts billions of sports fans on behalf of virtually every major sports league, media company, federation, and rights holder. Visit www.bruincptl.com for more. 

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Nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy an interest in any Mesirow investment vehicle(s). Mesirow Financial, Inc. is not affiliated with PlayGreen, Bruin Capital, or their affiliates. Past performance is not indicative of future results. Mesirow refers to Mesirow Financial Holdings, Inc. and its divisions, subsidiaries and affiliates. The Mesirow name and logo are registered service marks of Mesirow Financial Holdings, Inc. © 2024. All rights reserved. Securities offered through Mesirow Financial, Inc. member FINRA, SIPC.2022 Crain's Best Places to Work (Received August 2022 reflective of previous 12 months) | Licensing fees paid post award for use of the ranking). Best Companies Group (BCG), an independent workplace excellence research firm, conducted a two-part survey. Part one, consisted of an employer questionnaire, used to collect information about benefits, policies, practices, and other general information. Part two was a confidential 77-question employee survey used to evaluate local employee's workplace experience and culture. Rankings and/or recognition by unaffiliated rating services and/or publications are not indicative of a firm's future performance nor do they evaluate the quality of services provided to clients or guarantee that he/she will experience a certain level of results if Mesirow is engaged, or continues to be engaged, to provide investment advisory services, nor should they be construed as a current or past endorsement of Mesirow by any of its clients.2023 Barron's Top RIAs (Received September 2023 for the year 2022) | Licensing fees paid post award for use of the ranking). In order to be considered for the Barron's 2023 Top RIA Firms list, applicants were required to complete a 145-question survey, with the firm's ADV informing the majority of responses. Firms were also required to meet a number of other specified requirements to be eligible for inclusion. Firms were ranked based on various qualitative and quantitative factors, including assets managed, the size and experience of teams, regulatory records of the advisors and firms, technology spending, staff diversity, organic and M&A growth, client segmentation as well as succession planning.