CI Capital Partners, a New York-based private equity firm has acquired a majority interest in SavATree, a fast growing company engaged in tree care and tree and shrub care services. SavATree has completed eleven acquisitions making it among the most active acquirors in the industry. In recent months, SavATree acquired Mountain High Tree, Lawn and Landscape in Colorado and Thrive, Plant Health Care Solutions in Virginia.
We have been closely watching the interest of the private equity in the lawn and tree care segment, especially since industry-leader TruGreen acquired number two Scotts LawnCare Service. There has been a significant gap between TruGreen/Scotts and the next largest lawncare provider, seemingly creating a market opportunity.
Here is the text of the press release announcing the acquisition:
BEDFORD HILLS, N.Y. and NEW YORK, June 6, 2017 /PRNewswire/ — CI Capital Partners (“CI Capital”), a New York-based private equity firm, and SavATree, a leading provider of quality tree, shrub and lawn care services, announced today that an affiliate of CI Capital has acquired a majority interest in SavATree. The management team of SavATree has a significant equity ownership in the company. Terms of the transaction were not disclosed.
SavATree is committed to an environmentally sensible approach to tree, shrub and lawn care services and has been caring for residential, commercial, community and government properties for over 30 years. The company services customers in 12 states through 25 locations.
Since 1985, under the leadership of Daniel van Starrenburg, who will remain CEO, SavATree has expanded through both organic growth and eleven strategic add-on acquisitions. The partnership with CI Capital will enable the company to continue its growth and bring SavATree’s industry leading services to new regions of the United States.
Mr. van Starrenburg said, “We are excited to form this partnership with CI Capital, whose experience executing buy and build strategies will help us accelerate the pace of our acquisitions. We look forward to working with CI Capital to further expand SavATree’s business while providing the same high level of service our customers expect.”
“We have known Daniel for some time and are very impressed with the business he and his team have built,” said Joost Thesseling, Managing Director at CI Capital. “We are grateful for this opportunity and are committed to providing the SavATree team with the resources and support they need to achieve their growth objectives.”
SavATree, the green choice for tree, shrub and lawn care, provides environmentally sensible services to residential, commercial, community and government properties in the Northeast, Mid-Atlantic, Midwest and Western region. Property stewardship programs feature organic and hybrid plant health care, general tree care and lawn care – all highly customized to meet the needs of each landscape. Services include tree and shrub pruning, insect and disease management, deer deterrence, lawn care as well as tree and shrub nutrient/fertilization programs. Learn more at www.savatree.com.
About CI Capital Partners
CI Capital Partners LLC, a leading North American private equity investment firm with approximately $2.4 billion in assets under management, has been investing in middle-market companies since 1993. Since inception, CI Capital and its portfolio companies have made over 220 acquisitions representing approximately $8 billion in enterprise value.