Core Equity Holdings, a Brussels-based private equity firm has acquired Id verde, a European landscape services leader. Id verde has major operations in both France and the United Kingdom. Its annual revenues are approximately US$530 million. Id verde has completed a number of acquisitions in both France and the U.K. and intends to continue to pursue its consolidation strategy in more European countries.
Here is the text of the announcement from Core Equity Holdings:
Core Equity Holdings has concluded the acquisition of Id verde, the European leader of green space creation and maintenance, from Chequers Capital. The existing management team headed by Hervé Lançon reinvests significantly as part of the transaction and will lead the new development phase of the group.
Since Chequers Capital acquired Id verde from ISS in 2014 through a management buy-out, the management team grew the business from sales of €270m to €430m, through a mix of organic and external growth. Id verde developed organically its customer base towards private clients and maintenance contracts. It reinforced its French leadership position through 7 acquisitions and became the leader in the United Kingdom through the acquisitions of The Landscape Group, Quadron and Land Engineering. UK sales now account for one third of Id verde total sales.
Going forward, Id verde’s management team will continue to focus on its long-term objective to become the Pan-European leader in the green space creation and maintenance market. The company will continue to expand its geographic footprint to new countries and deepen the density of its coverage wherever it operates in order to deliver to its clients the highest professional standards and widest breadth of services offering.
Hervé Lançon, President of Id verde said: “After four exciting years with Chequers Capital, we have achieved our goal of putting Id verde on a new growth trajectory. We will continue to pursue our consolidation strategy, and the investment by Core Equity Holdings provides the opportunity to accelerate our growth in new countries and lines of business. Our focus is and will continue to be on creating and maintaining wellbeing spaces everywhere in Europe. Our team of 5000 colleagues is proud to partner with such a strong and patient shareholder.”
Bertrand Rabiller, Managing Director at Chequers Capital adds: “We are delighted to have supported Hervé Lançon and the Id verde management team in its transformation of the business into a leader in France and the United Kingdom. We are confident that Id verde will continue its organic and external growth path under Core Equity Holdings ownership.”
Marc Valentiny, a Partner at Core Equity Holdings said: “We are very impressed by what Hervé and his team have accomplished since their Chequers-backed management buy-out and are thrilled to be able to support them in the next phase of their journey towards building a Pan-European Champion. This partnership is very much aligned with our strategy of providing long-term capital to ambitious management teams, enabling them to actively grow their business, both organically and through acquisitions”.