As president of ValleyCrest Landscape Cos., Richard Sperber had increasingly taken on more responsibilities for the operations and performance of the California-based business. Recent news naming him CEO as well hasn't changed his perspective on his job.
"We strive to be the best company in the landscape business. For us that means providing great service to our customers and bringing the best possible people into the company and developing them into great professionals and leaders," said Richard Sperber in an exclusive interview with Lawn & Landscape.
Burton S. Sperber, founder and chief executive officer of ValleyCrest, made the announcement last week in a prepared statement.
“I’m proud of Richard, as a son and as a leader,” said Burt. “He has learned the landscape business from the ground up. He has worked in the field, managed large projects and held various positions in each of the company’s divisions. Today, Richard heads a truly great company, a strong management team and is committed to our customers, our employees and maintaining ValleyCrest’s growth.”
ValleyCrest has grown from $450 million eight years ago when he was named president to $1 billion today. Richard Sperber said he sees almost unlimited growth opportunities.
"Growth will come primarily organically although we will likely continue to complement internal growth with acquisitions where there are good opportunities and where it makes sense for business," he said. "Overall, while we have done quite a few acquisitions, we are not an acquisition-driven company."
Despite its size, ValleyCrest isn't immune to rising fuel, fertilizer, pipe, wire and other material cost increases. The company has had to absorb costs but has strived to offset costs by driving more efficiency in their business as well as passing along some costs to our customers.
"Rising prices have become a fact of life over the last couple of years and a part of our business reality that we figure out how to deal with on a daily basis," Sperber said. "We are also seeing pullback from customers who are a little less likely to invest in their properties than they were a couple of years ago."
Business is not equal in all regions. Sperber said Florida has experienced the most economic challenges and some parts of California are pretty badly hit.
Nearly two years ago, MSD Capital acquired majority ownership in ValleyCrest. The partnership has been good for the company, said Sperber. "They have a long-term perspective on the business and have been incredibly supportive of the management team as we continue to grow the company. They believe it is important to give us space to run the business while being helpful to us as much as they can. I couldn't be happier with how things have worked out so far."
Speculation indictates that more private equity will soon flow through the landscape industry. "I'm too focused on running ValleyCrest to think too much about that. It is a great industry, so from that standpoint, I wouldn't be surprised if we saw it get more attention from sophisticated investors."