Weyerhaeuser Company had purchased Shemin from the company's founder, Manny Shemin, when it attempted to consolidate a portion of the nursery industry. At the time of the management buyout, Weyerhaueser had changed strategy and was divesting its nursery businesses.
Shemin's management had a desire to stay with and continue to grow the business. Management co-invested with a private capital source to obtain a significant equity interest in Shemin.
This management buyout was financed through a senior secured revolving credit facility and term loan and a securitized real estate term loan.