Landscape Development acquires Chateau Landscape
|By Kristin Smith-Ely|
Acquisition is Valencia, California, landscaping company’s second in as many months.
Enhanced Landscape Management, the maintenance division of Landscape Development Inc., with headquarters located in Valencia, California, has concluded the asset purchase of Chateau Landscape Inc., Santa Clarita, California, marking its second acquisition in as many months.
With this purchase, LDI’s annualized maintenance revenue now exceeds $25 million positioning it as a national industry leader with total annual revenues reaching over $100 million, the company says.
“It is with great excitement that Ron and I announce the acquisition of Chateau Landscape, Inc.,” says LDI CEO Gary Horton. “The continued growth of our maintenance operations is a priority, and we are always exploring acquisition opportunities. Today, we are especially excited to bring CLI into our family.”
CLI owner and founder Matthew Fredeking will stay on board as a senior account manager, playing a key role in business development activities. In the past 15 years, Fredeking steadily grew his business by focusing on homeowner associations, as well as in-house concrete, fencing and masonry services. Integrating this range of expertise into the LDI family will offer a broader range of in-house services, as well as expand the LDI family of trained professionals.
Just as importantly, LDI also retained all employees, including field management and personnel, driving the total number of dedicated maintenance team members over 300. New team members were given a detailed orientation of the LDI’s company culture, opportunities, benefits and emphasis on safety.
“This deal was months in the making, and it wouldn’t have happened without the efforts of so many on our team, and we thank all those who made this possible,” says ELM Division President Ron Reitz. “We’ve worked hard to earn a reputation for being best-in-class to our team, offering substantial careers and a great place to work. You all play a part in this success, and it makes the acquisition process all the more easy when the owners and employees work with our existing team, and vice versa.”
During the transition, LDI will be rebranding the CLI uniforms and fleet to match that of the LDI team.
“As you see their trucks and uniforms, please join us in welcoming them as the newest addition to our expanding family,” Horton says. “We’re so excited to see how CLI will enhance the lives of our clients and community.”
LDI was founded in 1983 by Gary Horton; he continues to serve as president and CEO. LDI currently operates from nine regional offices throughout Central and Southern California.