Key Takeaways
- • Birch Hill Equity Partners, a Canadian private equity firm, has acquired TruGreen, the lawn care company, ending a 19-year ownership relationship with Clayton, Dubilier & Rice (CD&R).
- • TruGreen ranks No. 3 on Lawn & Landscape's Top 100 list, and CEO Kurt Kane describes the deal as an important milestone for the company.
- • Goldman Sachs advised TruGreen and CD&R as exclusive financial advisor, with Debevoise as legal counsel.
- • William Blair and TD Securities served as financial advisors to Birch Hill, with Paul Weiss and Davies as its legal counsel.
- • The source article does not disclose the transaction value.
Summary
TruGreen has been acquired by Birch Hill Equity Partners, a Canadian private equity firm, according to Lawn & Landscape. The transaction concludes TruGreen's 19-year relationship with Clayton, Dubilier & Rice, which had been the company's private equity sponsor. TruGreen ranks No. 3 on Lawn & Landscape's Top 100 list of industry companies.
Kurt Kane, president and CEO of TruGreen, described the transaction as "an exciting day for TruGreen and an important milestone in our company's journey." He said Birch Hill would be "a great partner who helps us build from our strong foundation," and framed the company's shared vision as becoming "the best, fastest-growing and most valuable lawn care company in the world." Kane also thanked CD&R for its partnership over the past 19 years, crediting the firm with helping transform TruGreen into an industry leader and with supporting development of a roadmap for growth.
Kane said the company's focus going forward remains on its team members, its customers and delivering pro-level lawns. The source article does not disclose the purchase price or other financial terms of the transaction.
Goldman Sachs served as exclusive financial advisor to TruGreen and CD&R, with Debevoise serving as legal counsel. On the buy side, William Blair and TD Securities advised Birch Hill financially, while Paul Weiss and Davies provided legal counsel.
Kurt Kane, president and CEO of TruGreen, described the transaction as "an exciting day for TruGreen and an important milestone in our company's journey." He said Birch Hill would be "a great partner who helps us build from our strong foundation," and framed the company's shared vision as becoming "the best, fastest-growing and most valuable lawn care company in the world." Kane also thanked CD&R for its partnership over the past 19 years, crediting the firm with helping transform TruGreen into an industry leader and with supporting development of a roadmap for growth.
Kane said the company's focus going forward remains on its team members, its customers and delivering pro-level lawns. The source article does not disclose the purchase price or other financial terms of the transaction.
Goldman Sachs served as exclusive financial advisor to TruGreen and CD&R, with Debevoise serving as legal counsel. On the buy side, William Blair and TD Securities advised Birch Hill financially, while Paul Weiss and Davies provided legal counsel.
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