Mosaic Capital Partners Leads Investment in Hollandia Produce, L.P. Employee Stock Ownership Plan

CHARLOTTE – January 12, 2016
Charlotte-based Mosaic Capital Partners, LLC (“Mosaic”) and The SEAM Fund (“SEAM”) co-led the structuring and funding of the leveraged Employee Stock Ownership Plan (“ESOP”) of Hollandia Produce, L.P. (“Hollandia” or the “Company”). Hollandia, based in Carpinteria, CA, has grown to become the leading greenhouse grower of hydroponic lettuce in the Western United States over the past 45 years.

Mosaic Principal Ian Mohler stated, “Our team at Mosaic was honored to be selected to partner with Pete Overgaag, the management, and employees in Hollandia’s transition to employee ownership. Hollandia is a leading U.S. grower of hydroponic lettuce and we are big believers in the sustainability of trends behind hydroponics. Pete is an innovator in the category and we look forward to supporting the Company’s numerous growth opportunities throughout the life of our partnership.”

Dabney Smith, a Managing Partner at Mosaic, further commented, “Employee ownership fits incredibly well with Hollandia’s mission and values. We are excited to provide an opportunity for Hollandia to grow while maintaining its unique company culture. Now, the Company is not only family owned, it is employee-owned.”

Keith Butcher, another Mosaic partner and co-founder of the middle market investment bank ButcherJoseph & Co., will facilitate a company-wide meeting to educate Hollandia’s employees on the ESOP structure and what it means for them.

Hollandia’s President, Pete Overgaag, who will continue leading Hollandia, shared, “We considered several avenues for transitioning the company, and ultimately found the creative ESOP structure presented by Mosaic and Endeavor SEAM to be the best solution to achieve all of our objectives. The desire to create an ownership opportunity in Hollandia for our 150 employees was always top of mind for us. Our employees are what make our company so successful.”

SDR Ventures served as Hollandia’s financial advisor during the transaction. Other funding sources included NBH Capital Finance and Babson Capital Management.

About Hollandia Produce, L.P.
Hollandia Produce is a family owned and operated hydroponic greenhouse producer of branded rooted vegetables, specializing in butter lettuce, watercress, baby romaine and a variety of organic lettuces. The Company sells its branded and private-label products to retail, wholesale, and foodservice customers primarily in the Western United States where it is the market leader. In 2015 the Company celebrated 45 years in business.

About Mosaic Capital Partners, LLC
Based in Charlotte, NC, Mosaic Capital Partners, LLC (“Mosaic”) is a private investment firm providing mezzanine debt and equity to privately held lower middle market companies. Mosaic employs traditional private equity buyout strategies along with the partners’ unique expertise in Employee Stock Ownership Plans (ESOPs) to help business owners achieve their liquidity, wealth transfer and ownership transition goals. Mosaic’s strategy is to partner with quality management teams at sound companies in stable industries to help drive value growth.

About The SEAM Fund
The SEAM Fund is a private credit fund and the successor fund to Endeavour Structured Equity and Mezzanine Fund I, which was founded in 2009. The SEAM Fund provides flexible growth and mezzanine capital to leading middle market companies located in the Western US, and provides investment capital for acquisition financing, management and leveraged buyouts, recapitalizations, refinancings, liquidity to existing shareholders and employee stock ownership programs.

About ButcherJoseph & Co.
ButcherJoseph & Co. (“ButcherJoseph”) is an investment bank headquartered in St Louis with coverage in Chicago, Washington, DC, and Charlotte, NC. ButcherJoseph provides investment banking advisory services to middle market companies. With more than $7 billion in successfully completed Employee Stock Ownership Plan (“ESOP”) transactions, ButcherJoseph & Co. is known as a leader in the ESOP field.


Contact For Hollandia Produce, L.P.:
Emily McNelly
Chief Administrative Officer
Hollandia Produce, L.P.
1545 Santa Monica Rd.
Carpinteria, CA 93013
PH: 805-684-4146

Contact For Mosaic Capital Partners, LLC:
Ian Mohler
Mosaic Capital Partners, LLC
101 S. Tryon St., Suite 2620
Charlotte, NC 28280
PH: 704-626-6436

Contact for The SEAM Fund:
Iain Graham Douglas
Managing Director
The SEAM Fund
601 West Fifth Street, Suite 700
Los Angeles, CA 90071
PH: 213-347-6395

Contact For ButcherJoseph & Co.:
Rose Newport
Director of Marketing
ButcherJoseph & Co.
101 S. Hanley Rd, Suite 1450
St. Louis, MO 63105
PH: 314-549-4045