Green Leaf Landscaping & Irrigation, a portfolio company of SCG Partners, has acquired the assets of a commercial landscape company in Florida. SCG Partners Managing Director Jonathan Ives led the transaction.
SCG Partners formed Green Leaf Landscaping & Irrigation (Greenleaf) in October 2015 when it acquired three landscape maintenance companies – Green Leaf Landscaping & Irrigation, A New Look Lawn Care, and M&M Professional Grounds – that were based in Melbourne, FL (www.greenleaf-fl.com).
SCG Partners would not make the name of the newest add-on available, however we can report that the company operates outside of Green Leaf’s core Melbourne territory and has been in the Florida market for over 20 years. The add-on also has over 300 commercial accounts and, similar to Green Leaf, provides landscape design, arbor care, fertilization, irrigation, lawn maintenance and landscape installation services.
SCG Partners invests up to $100 million of equity in middle-market, business-to-business service companies that can serve as platforms for national expansion. Typical target companies will have annual revenues of $10 million to $200 million and EBITDA of $1.5 million to $20 million. Service sectors of particular interest include facilities maintenance; landscaping & lawncare; real estate & property; inspection; repair & maintenance; cleaning & janitorial; and disaster recovery & reconstruction. SCG is led by its managing directors Jonathan Ives and Sean Dorsey. The firm is headquartered in Cleveland (www.scgp.com).
“SCG Partners is very excited to partner with the owner of our latest commercial landscaping operation and his senior team. The entire management staff and employees are expected to remain with the company. This acquisition further expands our presence in the attractive Florida market,” said Mr. Ives.
SCG Partners is actively seeking additional investments in the landscape maintenance industry and plans to make additional add-on acquisitions to deepen local market penetration as well as expand geographic coverage.
Lower middle-market investment bank Benchmark International (www.benchmarkcorporate.com) was the financial advisor to the un-named seller.
© 2016 PEPD • Private Equity’s Leading News Magazine • 2-24-16
