VALENCIA, Cali. — Valencia-based Landscape Development Inc. announced its maintenance division, Enhanced Landscape Management, has completed the asset purchase of Las Vegas-based NewTex Landscape Inc.
The purchase expands the operations of LDI, which has annual revenues in excess of $110 million in its California operations, into new territory.
NewTex owner Michael Martinez, who joins the ELM executive team as regional manager, says the acquisition by LDI presents an opportunity for the companies’ teams to grow stronger.
“I have had the pleasure of getting to know the LDI/ELM team over the course of the past couple years. What started as a relationship between companies working to develop and deploy new technologies turned into an opportunity for us to align and grow stronger together,” Martinez says.
The staff of approximately 120 employees of NLI is being retained, including field personnel and management.
“The cultural fit and opportunities for my employees were of the highest priority for me,” Martinez says. “LDI/ELM has a strong track record of stability, growth, employee development and know-how when it comes to acquisitions. This made me comfortable in my decision to align with them and be part of their future growth, management and innovations to come. My staff were warmly welcomed and made to feel as valuable to LDI/ELM as they are to me.”
ELM Division President Ron Reitz says the acquisition brings a wealth of new talent into the LDI/ELM team as the company extends its reach into Nevada for the first time.
“It has been a goal of our company to stretch outside of California for some time now and this opportunity brought us together with a great team of professionals in the Southern Nevada market,” Reitz says. “This is personally exciting for me as I attended UNLV and spent 15 years in Las Vegas working in the commercial landscape and residential development industries. I am very familiar with the local community and look forward to again being a part of it.”
LDI President-CEO Gary Horton says the acquisition is an important step in the company’s expansion of services and its plans to serve additional markets.
“This is an exciting addition to our LDI family and one which will bolster our presence in key markets,” Horton said. “This acquisition also allows us to provide additional services to our existing clients who operate in both California and Nevada. We continue to pursue acquisition opportunities to grow our business and provide best-in-class service to our valued clients.”
Horton founded LDI in 1983. The company currently operates from 12 regional offices throughout California and Southern Nevada.