Greenrise built green roof on Music City Center
Miami-based private equity firm Boyne Capital Partners has announced it has acquired a stake in Nashville-based Greenrise Technologies, the infrastructure company that built the green roof on Music City Center.
Boyne did not disclose terms of the investment in a release, though the firm said the investment would “supply the business with additional working capital to pursue numerous growth initiatives.”
According to the release, this isn’t the first time Boyne and Greenrise CEO Ray Derbecker have worked together. Boyne previously was a partial owner of Georgia-based playground equipment manufacturer Superior, of which Derbecker was president and CEO.
“Greenrise believes it’s found the ideal partner for the company’s next major growth phase,” Derbecker said in the release. “Boyne has a long history of growing businesses alongside management, and we are excited to be teaming up with them. With this partnership, Greenrise has the capital partner to achieve its goal of becoming the leading provider of green roof systems and components in North America.”
Boyne made the investment through its BCM Fund 1. The firm invests in the lower middle market sector, specifically in companies with revenues of less than $100 million.
Boyne Managing Partner Derek McDowell added that the green roof industry is growing “as public awareness grows regarding the environmental, social and health benefits provided by green roofs.” Greenrise’s green roofs include stormwater runoff reduction, insulation, urban heat island effect mitigation, improved air quality and extended roof lives, according to the company.