GTCR has acquired Senske Services, a provider of residential lawn care, pest control, and other home services.
Senske serves over 80,000 residential and commercial customers across 16 branches in Washington, Utah, Idaho, and Colorado. The Senske family of brands includes Senske Pest Control, Senske Lawn and Tree Care, Senske Grounds Maintenance, Fit Turf, and Christmas Décor by Senske.
Senske was founded in 1947 and is headquartered in Kennewick, Washington. Chris Senske, the owner of Senske who has led the business since 1974, will remain a substantial shareholder of the company and remain on the board of directors in partnership with GTCR.
GTCR will use Senske Services as a platform for a broader national expansion in the residential lawn care and pest control sectors and GTCR has committed additional capital to fund acquisitions and organic growth opportunities. GTCR has partnered on this transaction with Casey Taylor and Nathan Hurst who will serve as co-CEOs of Senske Services. Messrs. Taylor and Hurst are former CEOs of the Americas region for route-based commercial water filtration business Waterlogic. At Waterlogic, the two executives completed over 60 add-acquisitions over a five-year period.
“We are excited to partner with GTCR and look forward to continuing to provide Senske’s customers with exceptional service,” said Messrs. Taylor and Hurst in a released statement. “GTCR brings significant resources and experience in building companies and together we expect to grow Senske into a leading national lawn care and pest control company.”
“Through their exceptional customer service and commitment to integrity, Senske has grown to become one of the leading lawn care and pest control companies in the US,” said David Donnini, a managing director and head of business & consumer services at GTCR. “We are thrilled to be partnering with Casey and Nate, as well as Senske, at this exciting time in the company’s evolution.”
Since its founding in 1980, Chicago-based GTCR has invested more than $24 billion in over 270 companies. Sectors of interest include business services; technology, media & telecommunications; healthcare, and financial services & technology. In November 2020, GTCR closed its thirteenth fund, GTCR Fund XIII LP, with $7.5 billion of limited partner capital commitments. The new fund, raised in just five months, is the largest investment fund in GTCR’s history. GTCR is based in Chicago with offices in New York and West Palm Beach.
“Chris and the Senske team have built a tremendous business that is well-positioned to serve as the platform for further investment in a growing sector,” said Tom Ehrhart, a principal at GTCR. “The entire Senske organization should be proud of the business they have built. We look forward to Casey and Nate working with the company and its employees to continue providing exceptional customer service while expanding into new geographies and service offerings nationally.”
San Diego-based LR Tullius was the financial advisor to Senske Services and New York City-based Solomon Partners was the financial advisor to GTCR.
© 2022 Private Equity Professional | December 20, 2022
Riata Capital Group has made an investment in Salon Republic, an operator of salon studio suites and a provider of support services to beauty care professionals.
“We have been impressed by the differentiated platform that Eric Taylor and the Salon Republic team have built, developing the business into one of the leading providers of salon suites and value-added services to BCPs in their markets,” said Barron Fletcher, a managing partner of Riata. “As innovators in their space since 2000, Eric and his team have capitalized on strong demand from BCPs for the salon-suite model and consistently demonstrated their commitment to helping BCPs grow their business outside traditional salon formats.”
“We are excited to partner with such a well-positioned and well-managed platform,” said Jeff Fronterhouse, a managing partner of Riata. “We believe Eric and the Salon Republic leadership team have built an impressive business with a differentiated service offering and a strong economic model. Salon Republic locations are designed to meet the strong secular demand from BCPs seeking the independence, autonomy, and economic advantages of having their own business in upscale environments with value-added services offerings and stimulating overall beauty care ecosystems. We expect to continue to deploy additional capital in the platform to support the company’s continued organic expansion along with pursuing strategic add-on acquisitions.”
