CHICAGO – Prospect Partners, a private equity firm investing in lower middle-market companies, recapitalized, in partnership with management, of Bland Landscaping in Apex, North Carolina.
Bland Landscaping offers landscape design, installation, enhancement and maintenance services for commercial properties and high-end residential estates. The company, established in 1976, primarily serves offices, hospitals, universities, municipalities, and homeowner associations statewide, including the Triangle, Triad, and metropolitan Charlotte regions.
The company employs 300 people and is owned by Kurt Bland, president and CEO, and Matt Bland, CFO and COO.
Going forward, Bland Landscaping seeks to invest in add-on acquisitions of providers of commercial landscape maintenance services based in the Southeast and the Mid-Atlantic states.
Serving the company’s board of directors from Prospect Partners are Erik Maurer, a principal of Prospect Partners, as chairman, and Brad O’Dell, Principal, as a director.
Bland Landscaping becomes Prospect Partners’ 50th portfolio company overall, and the 14th in the firm’s current fund, Prospect Partners III, L.P.
The company was the cover story subject in Lawn & Landscape's September 2014 issue.