SCG Partners, a Cleveland-based private equity firm, announced that it has acquired an additional landscape business in Florida to add to the three it acquired in the Melbourne, Florida area last year. SCG did not disclose the name if its most recent acquisition, but did say that it was not in the Melbourne area and that is “the leader in its local service area.” SCG also said that ut is seeking additional acquisitions throughout the Southeastern United States.
Here is the text of the press release issued by SCG:
SCG Partners is pleased to announce that it has acquired the assets of an additional commercial landscape company in Florida and is actively seeking additional acquisitions in the landscape maintenance industry throughout the Southeastern US. Financial terms of the transactions were not disclosed.
This marks the fourth acquisition for SCG Partners in the last six months. In October, SCG Partners announced that it acquired three landscape maintenance companies in Melbourne, Florida. The combined businesses currently operate as Green Leaf Landscaping & Irrigation (“Green Leaf”).
SCG Partners’ latest acquisition is outside of the Melbourne area. This company is the leader in its local service area and has operated in the Florida market for over 20 years. The company has over 300 commercial accounts, providing a full-range of services including landscape design, arbor care, fertilization, irrigation, lawn maintenance and landscape installation.
SCG Partners, a leading middle-market private equity fund, is actively seeking additional transaction opportunities in the landscape maintenance industry and plans to make additional add-on acquisitions to deepen local market penetration as well as expand geographic coverage.
SCG Partners Managing Director Jonathan Ives commented, “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.”