Prairie Capital VI, LP has partnered with Rising Point Capital to acquire Fairway Lawns.
Headquartered in Little Rock, AR, Fairway is a provider of residential lawn treatment and pest control services. The Company currently serves over 40,000 customers from 12 lawn treatment locations and 2 pest control locations across six states (AL, AR, GA, OK, SC, TN).
Over the course of its 30-year history, Fairway has proven its ability to compete effectively against national and local providers. Fairway focuses on the residential market, and is recognized for its high-quality service offering, professional brand, and exceptional customer service. The Company invests heavily in training and retention of its technicians and branch managers. As a result, Fairway enjoys high levels of customer satisfaction and retention. The Company’s growth results from strong performance at existing locations, coupled with an ability to successfully open new locations in attractive markets.
Fairway Lawns has twelve branches serving customers in seven states ranging from Arkansas to South Carolina. Its pest control affiliate is Command Pest Control.
The lawn treatment and pest control industries are large, steadily growing, and highly fragmented. Both industries benefit from favorable underlying macro trends and recession resistant characteristics. In particular, the Southeast U.S. represents a strong market for lawn treatment and pest control services, with limited exposure to the impacts of seasonality.
Prairie Capital partnered with Rising Point Capital to (i) support a buyout of Fairway’s founders; and (ii) back the incumbent management team to accelerate growth through company-building investments in human capital, sales and marketing, infrastructure, and add-on acquisitions.