Harvest Partners Announces Acquisition of Yellowstone Landscape
Harvest Partners, LP (“Harvest”), announced today that funds managed by Harvest have completed the acquisition of Yellowstone Landscape (“Yellowstone”) from CIVC Partners, LP (“CIVC”). Yellowstone, headquartered in Palm Coast, Florida, is the second largest commercial landscaping company in the United States. The Company’s management team, led by CEO Tim Portland, will continue to lead Yellowstone, and remain significant owners of the business. Additional terms of the transaction were not disclosed.
Yellowstone is a leading provider of commercial landscape services to over 5,000 customers throughout the Southern and Southwestern United States, including corporate campuses, resorts and hotels, homeowners’ associations, multi-family communities, schools, hospitals, and municipalities.
Of the transaction Tim Portland said, “On behalf of Yellowstone’s leadership team, we are excited to partner with Harvest and accelerate our growth. Their capital, experience and enthusiasm will help us continue our pursuit of excellence in commercial landscaping for our current and new customers across the country, deliver continued growth and success across each of our key priorities, and create ever increasing development opportunities for our outstanding team of landscape professionals.”
Michael DeFlorio, President of Harvest, said, “We are thrilled to partner with Tim and the entire Yellowstone team. They have built an excellent company and we look forward to providing additional financial and strategic resources to help them further build their market leadership.”
Stephen Carlson, Partner at Harvest, added, “We have been pursuing commercial landscaping services as a priority sector for several years and believe Yellowstone is a premier competitor in the industry. Customers value Yellowstone’s professionalism, commitment to service excellence, and scale, and we are excited to be partners with the Company through its next phase of growth.”
Harris Williams served as financial advisor and Kirkland & Ellis LLP served as legal advisor to CIVC and Yellowstone. Piper Jaffray and William Blair acted as financial advisors to Harvest Partners. Harvest Partners’ legal advisor was Ropes & Gray LLP. Moore & Van Allen PLLC advised Yellowstone management. Stephen Fessler from Harvest Partners will also join Tim Portland, Michael DeFlorio and Stephen Carlson on the Board of Directors of Yellowstone.
Yellowstone Landscape is a full service commercial landscaping company, delivering professional landscape services including Landscape Design, Landscape Installation, Landscape Maintenance, Irrigation Installation and Repair, and Tree Care Services. Headquartered in Palm Coast, Florida, Yellowstone Landscape currently serves more than 5,000 customers from its 40 branch facilities across the South and Southwest. More information about Yellowstone Landscape is available at www.yellowstonelandscape.com.