Chiltern is pleased to announce the successful sale of Strata Products, a British designer and manufacturer of home, office and garden products, to GreenCorp LLC, a US-based, diversified manufacturing, packaging and logistics group.

The Business

At the time of our investment, Strata had a well-established but narrow range of home and garden storage products sold mainly to UK retailers. Its strong reputation with customers gave it a clear platform for growth. We saw the chance to invest in its people, widen the product range and add new manufacturing capability. The objective was to enhance its competitive position, win further share with UK retailers, open new domestic channels such as garden centres, and expand internationally.

The Deal

Chiltern invested in Strata in 2024, backing Managing Director, Jay Ilsen, a member of the founding family management team, in a complex carve-out from its former US corporate parent. As part of the transaction, we strengthened the leadership team by appointing a Chair, a Chief Financial Officer and a Chief Strategy Officer. Together they brought the experience and capacity needed to deliver our value creation plan which was developed, and continuously adapted, with the team throughout Chiltern’s investment period.

The Value

We worked closely with management to set a clear vision and strategy for Strata aimed at growing share of wallet with existing customers, winning new customers, expanding into new channels and building a business of real strategic value to potential buyers. Our plan rested on four core pillars. The first was a new product development pipeline across home and garden categories, delivering new products, range extensions and next-generation lines. The second was commercial: using the broader range to win new customers and penetrate new channels, which unlocked sales growth. Third, we backed investment in new machinery and tooling, adding the capacity needed to meet rising demand and operate more efficiently. Fourth, and most importantly, we invested in Strata's people across the organisation, with focused training and development that created clear progression and career paths for the team delivering the plan.

The Exit

While Strata continued to deliver its growth plan, its strong performance and market-leading product ranges drew interest from international acquirers, including GreenCorp LLC.

Greencorp’s vision for long term growth closely aligned to that of the management team and will enable the business to deepen its presence domestically and in the US market by drawing on the group’s extensive manufacturing, packaging and logistics capabilities.

The exit heightens our conviction, and provides significant further funding, to invest in high-quality, UK headquartered industrial products and services businesses.

Chiltern Capital was advised by Lincoln International (Lead Advisory), Squire Patton Boggs (Legal Lead Advisor), Marriott Harrison (Legal DD) and EY (Financial).

Quotes

Cameron McLellan, CEO of Strata, said:

"Chiltern understood from the start that Strata's success comes down to its people. As well as backing new products and new machinery, they backed our team, and that made the biggest difference. Their challenge and support helped us move faster and aim higher, and they leave Strata ready for its next chapter with GreenCorp LLC.

Michael Coupland, Partner at Chiltern, said:

" Strata is a great example of what we look for: a business with a strong reputation and a management team with the ambition to build on it. We navigated a complex carve-out, invested in people, products and capacity, and together with the management team, more than doubled the profitability of the business in just over two years. GreenCorp is the ideal partner to help Strata thrive on the international stage. We now look forward to backing more UK manufacturing businesses with similar growth potential”

Chiltern Capital

Chiltern Capital is a UK-based private investor that backs profitable B2B businesses in the UK and Ireland with its own capital. The firm partners with founders, management teams and corporate vendors to drive transformational growth, organically and through targeted acquisition, with the goal of building market-leading companies.

Chiltern is a flexible capital provider that ensures the brand, legacy and culture of a business is maintained throughout the investment period.

For more information, please visit www.chilterncapital.com.