CIVC Partners Completes Sale of Yellowstone Landscape

CHICAGO, Nov. 1, 2019 /PRNewswire/ -- CIVC Partners, LP ("CIVC") is pleased to announce the successful sale of Yellowstone Landscape ("Yellowstone") to Harvest Partners ("Harvest"). Financial 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.

CIVC worked closely with Yellowstone's management team to generate strong organic growth, complemented with selective acquisitions, and expand Yellowstone's service areas.  With CIVC's support, Yellowstone made strategic investments in its sales force, management and reporting systems, and innovative safety practices, resulting in exceptional EBITDA growth and a leading position in the landscape industry. 

The sale of Yellowstone is a continuation of CIVC's success in the facility services industry.  Current and previous investments include KPA (environmental, health and safety software and onsite audit services), The Brickman Group (commercial landscape maintenance) and Kellermeyer Building Services (contract janitorial cleaning services).

"The CIVC team have been outstanding partners and colleagues," said Tim Portland, CEO of Yellowstone.  "They provided timely, sound, and helpful guidance to our team as we navigated the challenges that come with rapid growth and brought their experience with expanding facility service businesses to bear on our behalf.  We are excited to continue our pursuit of excellence in commercial landscaping for our current and new customers, deliver continued growth and success across each of our key priorities, and create ever increasing development opportunities for our outstanding team of landscape professionals."

"CIVC is proud to have been a part of Yellowstone's fantastic success over the past four and a half years, during which time we entered several new geographies and drove strong earnings gains," said John Compall, Partner at CIVC Partners.  "We expect continued success for Yellowstone and Harvest as they continue to build and grow the business."

Harris Williams served as financial adviser and Kirkland & Ellis LLP served as legal adviser to CIVC and Yellowstone. Moore & Van Allen PLLC served as legal advisor to Yellowstone management.  Ropes & Gray LLP served as legal adviser to Harvest Partners. 

About CIVC Partners

CIVC Partners is a Chicago-based private equity firm investing in high growth middle market companies in the business services sector.  Since 1989, the team has invested $1.7 billion in 65 platform companies and currently invests from CIVC Partners Fund V.  More information on CIVC Partners and its portfolio companies can be found at www.civc.com.

SOURCE CIVC Partners, L.P.

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