Surna Cultivation Technologies LLC and Hydrobuilder Holdings LLC have entered into a non-equity strategic alliance to create a One-Stop-Shop for Cultivation Companies Buy Local & Grow Local With The Hydrobuilder Holdings Family. Solidifying this relationship with Hydrobuilder Holdings is a breakthrough achievement for Surna, stated Tony McDonald, Chairman and CEO of CEA Industries Inc.Our combined offering can fully serve our customers with every conceivable service and product they would need to build out or refurbish an indoor cultivation facility. Also . Revenue in the third quarter of 2022 increased 37% to $5.1 million compared to $3.7 million for the same period in 2021. The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution. Surna Cultivation Technologies (www.surna.com), is an industry leader in CEA facility design and technologies. By continuing to use this site you are consenting to these choices. Hydrobuilder.com and GreenCoast will continue to be operated by their existing management teams under the newly-formed Hydrobuilder Holdings platform and substantially all team members from Hydrobuilder.com and GreenCoast will remain with Hydrobuilder Holdings. Louisville, Colorado, Nov. 10, 2022 (GLOBE NEWSWIRE) -- Surna Cultivation Technologies LLC, a subsidiary of CEA Industries Inc. (NASDAQ: CEAD), has entered into a non-equity strategic alliance, combining its industry leading controlled environment agriculture (CEA) systems engineering and technologies with Hydrobuilder Holdings expansive commercial-first omnichannel platform. About Hydrobuilder Holdings Hydrobuilder Holdings (HBH) was initially formed through the acquisitions of Hydrobuilder.com, a leading online retailer of hydroponics and horticultural supplies, GreenCoast Hydroponics, the second-largest hydroponics retailer in the United States, and Los Angeles, Calif.-based Elevated Equipment Supply, full-service equipment and supplies provider for the . Two Greenfield Openings and Two Relocations as Company Executes Growth Strategy. As the global environment for indoor cultivation continues to grow, CEA Industries was formed to embrace companies that support these ecosystems. Through our partnership with a certified service contractor network, we provide installation and maintenance services to assist in a smooth build-out and optimal facility performance. We have also been busy on the acquisition front with a number of promising opportunities in the pipeline, said Markus Hockenson, CEO of Hydrobuilder Holdings. "Hydrobuilder Holdings brings decades of experience and a broad and deep catalogue of leading cultivation products, and we're excited to expand our offerings to include Surna's leading design services and HVACD products. Q3 was highlighted by strong revenue growth on a sequential and year-over-year basis, reflecting both the benefit of our investments in sales and marketing this year and less disruption to our operations from past supply chain issues, said Tony McDonald, Chairman and CEO of CEA Industries Inc. We recently signed contracts with two non-cannabis vertical agriculture companies, which reflects our focus on diversifying the customer base beyond our traditional cannabis customers. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. This will better integrate and support our customers needs across all of our three pillars: e-commerce, retail and commercial. Mr. Hockenson previously served as President and Chief Executive Officer of International Car Wash Group and Vision Group Holdings, and has served in leadership positions at Enterprise Rent-a-Car, Starbucks, Advance Auto Parts, and TBC Corporation (Tire Kingdom). We are excited to bring together two proven leaders in hydroponics e-commerce and brick-and-mortar retail as the initial partnerships within Hydrobuilder Holdings, which we believe is poised to be a leading omni-channel seller of specialty agriculture and hydroponics equipment and supplies, said Hockenson. What is Hydrobuilder's latest funding round? site you are consenting to these choices. Solidifying this relationship with Hydrobuilder Holdings is a breakthrough achievement for Surna, stated Tony McDonald, Chairman and CEO of CEA Industries Inc.Our combined offering can fully serve our customers with every conceivable service and product they would need to build out or refurbish an indoor cultivation facility. Along with better serving our customers, we feel great about how this partnership will support our employees and the culture that we have worked 20+ years to build., Michael Rapp, Managing Partner of Broadband Capital Investments, added, We are excited to be investing in the formation of Hydrobuilder Holdings. Net loss in the third quarter of 2022 was $1.0 million or $(0.13) per share, compared to a net loss of $0.4 million or $(1.69) per share for the same period in 2021. Mr. Levine previously served as Chief Financial Officer of International Car Wash Group, and has additional experience at Deloitte Consulting, Versa Capital Management, Flashpoint College and Driven Brands. We believe these non-GAAP financial measures reflect an additional way to view aspects of our operations that, when viewed with our GAAP results, provide a more complete understanding of factors and trends affecting our business. Find out more about how we use your personal data in our privacy policy and cookie policy. Headquartered in Louisville, Colorado, we leverage our experience in the industry to bring value-added solutions to our customers that help improve their overall crop quality and yield, optimize energy and water efficiency, and satisfy evolving state and local codes, permitting and regulatory requirements. Hydrobuilder Holdings is a leading omnichannel platform with 22 retail locations and 10 warehouses serving the $12.5 billion indoor and outdoor CEA and hydroponics industry, currently focusing on . The increase was primarily driven by higher selling, general and administrative expenses in support of organic and inorganic growth initiatives, and an increase in advertising and marketing expenses. For more information, please visit https://hbhold.com/. We are a family of businesses that include over 20 retail locations in various parts of the country. CEA Industries Inc. Reports Third Quarter 2022 Results. CEA management will host a conference call today to discuss its financial and operating results, followed by a question-and-answer session. The reference to CEAs website has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release. Founded in 2002 by Ethan Holmes as an online retailer, New England Hydroponics has since grown to five retail locations and one warehouse location in each of Massachusetts and Maine and is now a leading indoor gardening retailer in the strategically important Northeastern market. Gross margin was 11.8% compared to 20.2% in the year ago period. BCI (and/or its affiliates) was the founding investor in Vroom.com (Nasdaq: VRM), a leading used car e-commerce company, co-led the management buyout of Hydrofarm Holdings (Nasdaq: HYFM), a leading hydroponics manufacturer and distributor, prior to its initial public offering, and invested in Montrose Environmental (NYSE: MEG), an environmental services provider offering measurement & analytical services as well as environmental resiliency & sustainability solutions. margin items): Hydrobuilder Holdings was initially formed through the acquisitions of Hydrobuilder.com, a leading online retailer of hydroponics and horticultural supplies, GreenCoast Hydroponics, the second-largest hydroponics retailer in the United States, and Los Angeles, California-based Elevated Equipment Supply, full-service equipment and supplies . This is Hydrobuilder Holdings' 1st transaction in the Distribution sector. Claim your profile to get in front of buyers, investors, and analysts. AD "Hydrobuilder Holdings brings decades of experience and a broad and deep catalog of leading cultivation products, and we're excited to expand our offerings to include Surna's leading design services and HVACD products. Founded in 2011, Hydrobuilder.com is based in Northern California and has rapidly grown to become a leading online retailer of hydroponics and horticultural supplies. Hydrobuilder Holdings will be led by Markus Hockenson, Chief Executive Officer, and Avi Levine, Chief Financial Officer, both of whom bring extensive digital and retail experience, and a proven . This alliance will combine our industry-leading CEA systems engineering and technologies with Hydrobuilder Holdings expansive commercial-first omnichannel platform, creating a one-stop-shop solution for cultivation companies across North America. ET Have a confidential news tip? About Hydrobuilder Holdings LLCHydrobuilder Holdings is a leading omnichannel platform with 22 retail locations and 10 warehouses serving the $12.5 billion indoor and outdoor CEA and hydroponics industry, currently focusing on the $3.0 billion North American CEA market, and serving the entire spectrum of customers from hobbyists to the largest commercial growers through its online, retail and warehouse direct channels. GreenCoast has 12 locations and is an industry leader in sales and large-scale grow design. Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces. Have a Great We, Yahoo, are part of the Yahoo family of brands. Get ahead of the crowd by signing up for420 Investorwhen it becomes available again. The strength of our brands, combined with our technical expertise, industry knowledge and channel coverage will be a huge benefit for our customers. Through our partnership with a certified service contractor network, we provide installation and maintenance services to assist in a smooth build-out and optimal facility performance. You can read more about your cookie choices at our privacy policyhere. I am incredibly grateful and excited to be working alongside these experts and pioneers within the hydroponics industry as well as professionals from many outside business ventures. dividendos, dados financeiros, preo da ao e avaliao da empresa num formato visual Under our ownership, we intend to uphold and build on that reputation as we bring to bear our advantages as a scale omnichannel platform to expand the Commercial division and execute our strategy of rapid growth in a dynamic and evolving industry, said Markus Hockenson, CEO of Hydrobuilder Holdings. Every failure, brings us a step closer to another failure, each failure, is a milestone that should teach us . Our team of project managers, licensed professional architects and engineers, technology and horticulture specialists, and systems integrations experts help our customers by precisely designing for their unique applications. Have questions about your grow? CEA Industries Inc. Surna Cultivation Technologies LLC and Hydrobuilder Holdings LLC have entered into a non-equity strategic alliance to create a One-Stop-Shop for Cultivation Companies. ICR About Hydrobuilder Holdings LLC Markus and Avi are world class executives who understand how to drive efficiencies and scale enterprises, both organically and through acquisitions.
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