SOURCE: CIVC Partners

CIVC Partners

January 12, 2015 17:45 ET

CIVC Partners Completes the Acquisition of Yellowstone Landscape Group

CHICAGO, IL--(Marketwired - 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, 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. For additional information on Yellowstone, visit www.yellowstonelandscape.com

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. 

Kirkland & Ellis LLP served as legal advisor to CIVC. Harris Williams & Co. served as financial advisor and Moore & Van Allen PLLC served as legal advisor to the Sellers. 

About CIVC Partners, LP

CIVC Partners is a Chicago-based private equity firm with over 25 years of experience investing in the middle market. The firm has invested $1.5 billion of equity capital in 57 platform transactions and dozens of add-on acquisitions since 1989. CIVC focuses on companies in the business services and financial services industries. More information on CIVC Partners can be found at www.civc.com.

If you have an opportunity that may be an acquisition candidate for Yellowstone, please contact John Compall (jcompall@civc.com) or Doug Potters (dpotters@civc.com).