Central Valley Fund (CVF) announced recently that it has invested $7.2M in growth capital financing for two of the region’s largest landscape contractors. The transaction includes equity investments in Coast Landscape Management, based in Napa, California, and Signature Landscapes, based in Reno/Tahoe, Nevada. The two companies will be merged into a single entity during the fourth quarter of 2017.
The investment was completed in partnership with Lebo Newman, CEO of Signature Landscapes (and shareholder in both companies), and Kelly Solomon, CEO and shareholder of Coast Landscape Management. Newman will become chairman and Solomon will be CEO of the combined companies; Justin Trimble will be COO. Minority shareholders, including Tim Laskowski, Tim Scott and Sal Perez, will continue in their management roles at the combined company.
"We are excited to partner with Lebo and Kelly and their teams during their next phase of growth," said Brad Triebsch, a managing partner with CVF. “Professional landscape services are essential to maintain the attractiveness and appeal of properties of all sizes. Both Coast and Signature offer their clients turn-key solutions that continue to win accolades for quality, consistency and personal touch. Through a well-trained, loyal team and the latest industry technology, the companies provide a service level that cannot be matched by smaller providers. In addition to local market growth, both companies will play a significant role in consolidating this industry through accretive acquisitions.”
David Ryan of Upton Financial acted as the financial advisor to both Signature and Coast in the transaction.