Press Releases, Articles & Announcements
Banyan announces investment in Second Nature Designs
November 15, 2023
Banyan Capital Partners (“Banyan”), a leading Canadian middle-market private equity firm, is pleased to announce its acquisition of Second Nature Designs Limited (“Second Nature” or the “Company”). Second Nature marks Banyan’s second platform investment through Banyan Committed Capital LP, an evergreen investment vehicle established in December 2021.
Founded in 1994, Second Nature is a manufacturer and distributor of home décor and gifting products made up of dried florals and other naturally and sustainably sourced botanicals. The Company sources materials globally and manufactures its products in Hamilton, Ontario. The Company services a recognizable customer base across Canada and the United States.
Banyan is partnering with the Company’s President and founder, Steve Koning, who has served in this role since 1994. Along with the management team, he will retain a minority ownership in the Company.
“Banyan’s long-term investment philosophy aligns with the objectives of my team to continue to grow our business throughout North America,” said Steve Koning. “We look forward to working with a partner that shares our strategic vision and values.”
“Since founding Second Nature in 1994, Steve and his team have built a remarkable business centred on delivering exceptional products and service to customers. This investment allows Banyan to partner with an impressive team to embark on the next chapter of growth for the business,” said Simon Gélinas, Managing Director and Partner at Banyan.
About Second Nature Designs
Founded in 1994, Second Nature imports dried florals and other naturally and sustainably sourced botanicals used in design bouquets, bowl filler collections and other home décor products, serving big box stores, grocery banners, wholesalers and independent home retailers across both Canada and the US with high-quality and sustainable products.
About Banyan Capital Partners
Founded in 1998 and under current management since 2008, Banyan Capital Partners is a Canadian-based private equity firm that makes equity investments in middle-market businesses throughout North America. Through a long-term investment approach, Banyan has developed into one of Canada’s leading middle-market private equity firms with an established track record of success in providing full or partial liquidity to founders, families and entrepreneurs and helping them take their business to the next level.
Banyan is part of Connor, Clark & Lunn Financial Group Ltd., an independently owned multi-boutique asset management firm whose affiliates are collectively responsible for over $110 billion in assets under management on behalf of institutional, private and retail clients.