CNL Strategic Partners, LLC, (CNL Strategic) has acquired a majority interest in Lawn Doctor from an affiliate of Levine Leichtman Capital Partners. Senior management of Lawn Doctor holds approximately 37.1% of the company.
Lawn Doctor is a leader lawn care franchising company with franchises in over 35 states.. System-wide revenues were approximately $118 million in 2017. Lawn Doctor has achieved a compound annual growth rate of approximately 6% from 2009 to 2017. The Company reports a customer retention rate of more than80% for the last three years. The Company plans to continue to grow its franchise base and add other home service franchisors.
CNL Strategic was launched by CNL Financial Group (CNL) seeks to provide long-term growth and current income to individuals by acquiring controlling equity stakes in combination with loan positions in durable, and growing middle-market businesses. CNL Strategic will seek to raise up to $1.1 billion in capital over two years in a publicly registered, non-traded offering. CNL Strategic is managed by an affiliate of CNL. An affiliate of Levine Leichtman manages the assets CNL Strategic pursuant to a sub-management agreement.