CHATTANOOGA, Tenn. (April 8, 2024) — FourBridges Capital Advisors announced today the acquisition of Midwest Sport and Turf Systems (MWSTS) by TenCate Grass (TCG), a leading global artificial grass solution provider for sports and outdoor living. FourBridges advised MWSTS on the transaction. 

Based in Plainfield, Illinois, MWSTS specializes in synthetic turf sales, installation, design build, maintenance and repair along with field removal. Founded in 2013 by Jody Factor, MWSTS has become a leading provider and constructor of synthetic turf systems for schools, universities, municipalities and other customers throughout the Midwest.

“I have known and admired Joe Fields, the Chief Executive Officer of TenCate Grass North America, for many years,” said MWSTS founder Jody Factor. “He has helped build a great organization in the U.S. that will provide an opportunity for MWSTS and our employees to succeed in a competitive industry. We are excited about working with TCG in the U.S. and beyond.” 

TenCate is a global leader in the development, production and marketing of synthetic turf components. Based in the Netherlands, TenCate serves customers in more than 60 countries, with production facilities in North America, Europe, the Middle East and Asia Pacific. The company provides fully integrated services including R&D, design, production, distribution, installation and recycling.

“MWSTS has a great reputation as one of the top turf companies in the U.S. This acquisition will further enhance our ability to offer a vertically integrated solution to our customers from coast to coast,” said Joe Fields, CEO of TenCate Grass North America. “Jody and his team are a great addition to our team, and we look forward to the capabilities they bring to our organization.” 

Bridging the Gap From Buyer to Seller

For the third time in six years, FourBridges Capital Advisors has represented a client in a sale to TenCate Grass. In 2018, FourBridges represented Challenger Industries in a sale to TenCate, followed by TenCate’s acquisition of Geo-Surfaces. MWSTS benefitted from FourBridge’s industry expertise and track record of getting deals done based on favorable terms for both parties.

“Jody’s primary goal for the transaction was to protect both his key employees and his family,” said Chris Rowe, managing director of FourBridges. “TenCate was an ideal fit on both a cultural and strategic level, and we were thrilled to help advise Jody on the transaction.”

Navigating Simultaneous Deals

FourBridges helped MWSTS navigate through several specific challenges and nuances during the sale to TenCate. Though TenCate is owned by a U.S. based private equity firm, the location of the company in the Netherlands led to several complex tax considerations.

At the same time, Leonard Green & Partners was in the process of acquiring TCG from Crestview Partners, creating some timing issues that needed to be resolved. 

“I have participated in many acquisitions throughout my career, but I needed help accurately presenting my financials, getting the best terms and closing the sale successfully,” said Jody Factor. “FourBridges helped me navigate the process, producing a great outcome for me, my family and my employees.”

Jody Factor will remain at the helm of Midwest Sport and Turf Systems as the company continues to expand its presence bolstered by TenCate’s globally integrated resources. 

About Midwest Sport and Turf Systems

Midwest Sport and Turf Systems provides complete design build services for all sports construction associated with synthetic turf playing fields. The company prides itself on providing outstanding quality and unmatched customer service before, during and well after the project is complete. For more information, visit www.midwestsportandturf.com.

About FourBridges

FourBridges Capital represents business owners who are thinking about selling their company, making an acquisition, or refinancing. The partners run a proven process to identify quality buyers, achieve the best value, and close a deal fast. For more information, visit www.fourbridgescapital.com.

About TenCate Grass

TenCate is a global leader in the development, production and marketing of synthetic turf components. Backed by Leonard Green & Partners, TenCate operates production facilities in North America, Europe, the Middle East and Asia Pacific. For more information, visit www.leonardgreen.com.