Charter Growth Capital Fund (CGCF), a fund managed by the principals of Grand Rapids-based Charter Capital Partners, has made a strategic investment in Jacksonville, Florida-based First Coast Mulch (FCM), a provider of blown mulch services for residential, commercial, and playground installations. The investment consists of a combination of subordinated and convertible debt. First Coast Mulch is the Fund’s 12th platform investment.The investment was led by Coastline Capital, a private equity investment firm that invests in middle market companies that are leaders in their market niches or can serve as platforms for consolidation and rapid growth in fragmented industries. Coastline takes an engaged approach with close collaboration with management to help identify and execute growth opportunities while mitigating key issues.In concert with the investment, First Coast Mulch consolidated with Tampa-based EZ Mulch and Jacksonville-based Innovative Mulch, creating a scalable commercial mulch installation platform poised to capture the growing Florida mulch installation industry. The combined company serves more than 300 customers across 10 counties. Craig Stein, founder of Coastline Capital, will serve as CEO. David Robinson, a cofounder of FCM, will lead operations as COO.“Our entire team is very excited to partner with Craig, a highly experienced sponsor, and David, an incredibly skilled operator, in this investment,” said Hector Bultynck, Partner at Charter Growth Capital. “We look forward to helping First Coast Mulch expand its operations.”