NEW YORK – Harvest Partners announced Friday that funds managed by Harvest have completed the acquisition of Yellowstone Landscape from CIVC Partners.
Yellowstone is headquartered in Palm Coast, Florida. The company's management team, led by CEO Tim Portland, will continue to lead Yellowstone, and remain significant owners of the business. The company ranked fifth in Lawn & Landscape's annual Top 100 list this year. Additional terms of the transaction were not disclosed.
Yellowstone provides commercial landscape services to over 5,000 customers throughout the southern United States, including corporate campuses, resorts and hotels, homeowners' associations, multi-family communities, schools, hospitals and municipalities.
"On behalf of Yellowstone's leadership team, we are excited to partner with Harvest and accelerate our growth," Portland said. "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."
"We are thrilled to partner with Tim and the entire Yellowstone team," said Michael DeFlorio, president of Harvest. "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 Fessler from Harvest Partners will also join Portland, DeFlorio and Stephen Carlson on the board of directors of Yellowstone.
In May 2018, Harvest Partners acquired Neighborly, formerly known as Dwyer Group Franchising, the parent company of The Grounds Guys. Grounds Guys ranked 17th on Lawn & Landscape's Top 100 list with more than $77 million in 2018 revenue. In July, Josh Sevick was named president of The Grounds Guys, replacing Michael Green. Prior to joining The Grounds Guys, Sevick was the president and CEO of CPR-Cell Phone Repair and Computer Troubleshooters.