CIVC Partners, L.P., a Chicago-based middle market private equity firm focused on investments in the business services and financial services industries, has acquired Yellowstone Landscape Group in partnership with management.
Through its subsidiaries Austin Outdoor (13 locations throughout Florida, Georgia and South Carolina) and BIO Landscape (three locations serving the Houston, TX, area), Yellowstone’s annual sales reportedly surpass the $80 million mark.
CIVC Partners is no stranger to the landscaping services industry. It was a former investor in Brickman Group.
Yellowstone provides commercial landscape maintenance and installation services to over 1,500 homeowners’ associations, corporate office campuses, resorts and municipalities. The company offers a comprehensive suite of landscape maintenance services including mowing, detailing, irrigation and turf management as well as arbor care, and design and installation services.
Tim Portland, Yellowstone CEO, 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, “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.”
