CIVC Partners Acquires Yellowstone Landscape Group

CIVC Partners, L.P., a Chicago-based private equity firm today announced the acquisition of Yellowstone Landscape Group from GridIron Capital, which founded Yellowstone in 2008. CIVC has substantial background n the landscape services induystry, having been an investor in The Brickman Group, Ltd., from 2002 to 2008. CIVC is already seeking acquisition opportunities for Yellowstone. This is one of several major transactions we expect to see announced in the near future, reflecting the strength of merger & acquisition activity in the landscape services industry following the acquisition of The Brickman Group, Ltd. in late 2013 by KKR&Co. and the subsequent merger of Brickman with The ValleyCrest Companies in mid-2014.
Here is the text of the press release:
CHICAGO, IL–Jan 12, 2015 – CIVC Partners, L.P., a Chicago-based middle market private equity firm focused on investments in the business services and financial services industries, is pleased to announce the acquisition of Yellowstone Landscape Group, Inc. (“Yellowstone” or the “Company”) in partnership with management.
Yellowstone Landscape GroupYellowstone, through its subsidiaries Austin Outdoor and BIO, provides commercial landscape maintenance and installation services to over 1,500 homeowners’ associations, corporate office campuses, resorts, and municipalities throughout the Southeast United States and Texas. The Company offers a comprehensive suite of landscape maintenance services including mowing, detailing, irrigation, and turf management as well as arbor care, design and installation services. Yellowstone’s service breadth, unique design capabilities, superior information systems and world class industry professionals enable it to deliver consistent, high quality landscaping services to sophisticated commercial and government clients with complicated landscaping needs. The Company is headquartered in Bunnell, FL and has 16 branches across Texas, Florida, Georgia, and South Carolina.
The Company’s CEO, Tim Portland, said, “We are thrilled to be partnering with a CIVC team that enthusiastically supports our strategy for Yellowstone. CIVC has been an active investor in the landscape maintenance industry for nearly two decades and brings an unmatched track record of partnering with management teams to rapidly grow businesses in service industries. Based on their past experiences, we expect CIVC to be an excellent partner for us as we execute on our business strategies.”
John Compall, a Partner at CIVC, added that, “Yellowstone is one of the few operators of scale in a highly attractive industry defined by recurring revenue, limited cyclicality, and a fragmented base of small competitors. We are excited to partner with Tim and his team and build on the impressive platform that they have assembled in recent years to pursue strategic acquisitions and support the Company’s next phase of growth.”
The acquisition of Yellowstone builds on CIVC’s investment experience in the outsourced business services industry. CIVC was previously an investor in The Brickman Group, Ltd, the largest commercial landscaping firm in the country. Other prior investments within outsourced business services have included Kellermeyer Building Services, Icon Identity Solutions, EN Engineering, PowerTeam Services and Track Utilities.

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