|Commentary – It’s hot out there
As I write this, the temperature is hovering near 100 degrees. At the same time, the politicians have been playing their game of brinkmanship in Washington for many days. Much like the weather, I am weary of it all and anxious for them to move forward.
Many companies in the industry also seem to be anxious to move forward. There is a good bit of activity developing in the green industry marketplace. A number of companies are taking the opportunity to expand their footprints coming out of the recession. For example, The Brickman Group moved into the key Los Angeles market with an acquisition.
The sustained downturn in commercial real estate construction continues to take its toll on companies focused on that segment, particularly in markets like Florida that saw the deepest drop in construction activity. It is distressing to see former industry leaders struggle. We know, however, that even those situations create new opportunities.
This is a good time to take stock and examine where the best opportunities lie for your business.
As always, if you are considering buying or selling a green industry business or are interested in exploring the exit planning process, we would be happy to speak with you.
In a Canadian private equity deal, DDR Landscaping Contractors, Ltd. of Oakville, Ontario, has been acquired by a joint venture of GC-Global Capital Corp. and Rossmore and Partners Investment Corp. The acquisition price was $2.5 million (Canadian). In connection with the transaction, Rossmore’s Susan Tanenbaum has been named president & CEO of DDR. DDR has been a commercial site contractor in Ontario for the past 15 years.
Austin Outdoor, the Florida unit of Yellowstone Landscape Group, has acquired Acorn Landscaping, a commercial landscape maintenance business based in Port St. Lucie, Florida. Yellowstone is a portfolio company of Gridiron Capital, LLC, a private equity firm.
Broccolo Tree & Lawn Care, located in Rochester, New York, has acquired Country Way Garden Center. Country Way, which includes both a retail garden center and a landscaping operation, will continue to operate under its existing name. Country Way’s previous owners will remain active in the business.
Editors’ Note: We believe the synergy between retail garden centers and landscape design/build businesses can be dramatic. Using a high-visibility garden center location to demonstrate landscaping projects such as hardscapes, outdoor living spaces, etc. can help drive business to a the landscape design/build part of the business.
Scott Lawn & Landscape, Inc. of Oviada, Florida has acquired Pristine Image Landscaping.
Cantu Enterprises, parent of Express Services of McKinney, Texas, has acquired Discount Pest & Lawn, based in Carrolton, Texas.
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