LOS ANGELES, May 2, 2011 /PRNewswire/ -- Aurora Capital Group, a Los Angeles-based private equity firm with over $2.0 billion of assets under management, today announced that an affiliate has successfully completed the acquisition of TruGreen LandCare from The ServiceMaster Company.
TruGreen LandCare is a leading U.S. provider of landscape maintenance services to commercial, industrial and municipal customers. It will continue to offer a comprehensive suite of landscaping services through a network of 60 branches in 17 states. The sale of TruGreen LandCare's business does not impact ServiceMaster's TruGreen lawn care unit, which provides residential and commercial lawn, tree and shrub care to 2.5 million residential and commercial customers within the United States and Canada.
Gerald L. Parsky, Chairman of Aurora Capital Group, said, "TruGreen LandCare is an excellent addition to our Aurora Resurgence program. This transaction is another example of Aurora Capital Group successfully acquiring a corporate divestiture in the middle-market. We are confident in TruGreen LandCare's growth prospects, and we believe we can bring operating resources to the company to help create value for our investors."
Anthony DiSimone, Managing Partner of Aurora Resurgence, said, "This is an opportune time to add TruGreen LandCare to the Aurora Resurgence portfolio. The long-term fundamentals of the landscape industry are attractive given the recurring nature of maintenance contracts and the pent-up demand for enhancement work that is expected to be completed in the coming years. We intend to position the company as a standalone business and capitalize on the significant growth opportunities in the industry. We look forward to working with TruGreen LandCare's excellent management team to grow the business both organically and through strategic acquisitions."
Mac McIlvried, President and Chief Operating Officer of TruGreen LandCare, said, "We are excited to join Aurora Capital Group and look forward to growing our business in partnership with our customers, suppliers and employees. We will continue to seek opportunities that strengthen TruGreen LandCare's landscaping service offerings and pursue growth in existing and adjacent geographies."
About Aurora Capital Group
Aurora Capital Group is a Los Angeles-based private investment firm managing over $2.0 billion of capital across several private equity funds. Aurora's traditional private equity vehicle, Aurora Equity Partners, focuses principally on control-investments in middle-market businesses with leading market positions, strong cash flow profiles, and actionable opportunities for growth in partnership with operating management. Aurora Resurgence, invests in debt and equity securities of middle-market companies and targets complex situations including corporate carve outs. Aurora's investors include leading public and corporate pension funds, endowments and foundations active in private equity investing. For more information about Aurora Capital Group, visit www.auroracap.com or www.aurorares.com.
For Aurora Capital Group
Sharon Stern / Blair Fasbender
Joele Frank, Wilkinson Brimmer Katcher
SOURCE Aurora Capital Group