MASHPEE, Mass. – Chenmark Capital Management, a Maine-based family investment firm, acquired Massachusetts-based Maffei Landscape Contractors. Robert Maffei, company founder and CEO, plans to remain the company’s CEO through this partnership.
“I’m thrilled that what began as cutting grass to pay for college has grown into a team of more than 100 employees,” Maffei said. “Over the years, I have continually sought ways to grow the business and insert the right capital to get to the next level. Chenmark Capital Management will help us do that. Their vision and resources will allow us to continue growing, offer more innovative services, and create new career opportunities.”
Chenmark Capital is an investment firm focused on acquiring and helping to support the operations of small businesses in North America. To date, Chenmark has four landscape companies in its portfolio.
“The principals of Chenmark maintain strong multi-generational ties to the lower Cape and look forward to working with the Maffei team to invest in and provide employment opportunities for those in the local area,” said James Higgins, a partner at Chenmark.
Maffei Landscape has grown into a large commercial and residential landscape contractor that serves Cape Cod and southeastern Massachusetts. The company received about $10 million in revenue last year. Throughout its 27 years of service, the company has partnered with local organizations like the Cape Cod Children’s Museum, Seaside Le Mans – the Race for the Cape Code Community, Flags for Service and others.
In addition, Robert Maffei is involved in the Cape Cod community, serving in numerous leadership capacities including serving on the board of directors for the Cape Cod Chamber of Commerce.
“I grew up on the Cape, I grew this company on the Cape and I’m thrilled to keep the company and my raise my family here,” he said. “I’m confident that the commitment to the local community will remain steadfast with our new partners.”