Press Releases, Articles & Announcements
2023 Year in Review
January 29, 2024 by Scott Morrison
In 2023, we at Banyan Capital Partners continued our journey of strategic growth, investment and delivering value to our investors.
New to Banyan and recent promotions
 to Senior Associate |
 to Senior Analyst |
 to Senior Analyst |
 has joined as Director of Finance |
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These promotions and additions reflect our culture of professional growth and recognizing the contributions of our team members. Our team’s development is integral to our ongoing success and capacity for identifying and nurturing promising investment opportunities and our investment portfolio.
New platform investment
Founded in 1994, Second Nature is a leading 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, manufactures its products in Hamilton, Ontario and services a recognizable customer base across North America.
We’ve partnered with Second Nature’s President and founder as well as its management team, to facilitate succession planning and execute on the business’s next phase of growth.
Portfolio spotlight
In November 2023, Purity Life completed its acquisition of the assets of Indigo Natural Foods Inc., a leading distributor of natural health products based in Toronto. This transaction deepens Purity Life’s market presence in Ontario and enhances its portfolio with numerous new brands.
In January 2023, Rack Attack completed the acquisition of Racks Unlimited, a leading provider of vehicle rack solutions with two stores in Calgary, Alberta. This strategic acquisition allowed Rack Attack to expand its footprint in the Western Canadian market.
With the additional opening of four new stores in Kitchener, London, Winnipeg and Philadelphia, the company now has a total of 46 stores across North America.
In April 2023, Innovative was pleased to announce the appointment of David Safran as President & CEO. David was formerly the CEO of the Kissner Group and brings over 15 years of experience in the salt and derivative products industry.
Learn more about our current investment portfolio
Operating Partner Network
Since 2008, Banyan has partnered with the best operators in their industries to successfully buy and build businesses with a long-term ownership focus.
 Operating Partner |
 Operating Partner |
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Andy O’Brien joined Banyan as an Operating Partner in June 2023, targeting investment opportunities in the food service, food retail, consumer products and retail sectors.
This follows the addition of Jason Grouette as an Operating Partner in 2022 to target investment opportunities in the safety and industrial B2B space.
Looking ahead
Banyan is poised for further growth and expansion as we move into 2024. Our focus remains on identifying new investments in middle-market businesses across North America while maintaining our commitment to long-term value creation. We will continue to leverage our expertise and network to foster strategic partnerships, ensuring sustainable success for our portfolio companies and investors.
New investments
We continue to actively seek to invest in businesses with EBITDA of at least $5 million.
Do you have an opportunity in mind? Explore our investment criteria or connect with us today.
