DAVIS, CA (PRWEB) - SEPTEMBER 14, 2017 -
Central Valley Fund (CVF) announced today it has invested growth capital financing in two of the nation’s largest landscape contractors.
The transaction includes equity investments in Coast Landscape Management, based in Napa, CA, and Signature Landscapes, based in Reno/Tahoe, Nevada. The two companies will be merged into a single entity during the 4th quarter of 2017. The combined company will be the 53rd largest landscaper in the United States based on current rankings by Landscape Management Magazine.
The investment was completed in partnership with Lebo Newman, CEO of Signature (and shareholder in both companies), and Kelly Solomon, CEO and shareholder of Coast. Lebo Newman will become Chairman and Kelly 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.”
"We are excited by the opportunities ahead of us," said Newman. "The CVF team shares our vision for building strong teams and systems to deliver superior service to our customers. Their partnership provides our two teams the opportunity to set the standards for innovation, quality and customer service in our market areas."
David Ryan of Upton Financial acted as the Financial Advisor to both Signature and Coast in the transaction.
About Coast Landscape Management
Coast Landscape Management offers contracted full-service landscape management to large sites including resorts, business parks, wineries, multi-family properties and public agencies for parks, schools and recreational facilities. Coast is headquartered in Napa, California with regional offices in Concord, Santa Rosa, San Rafael, Sacramento and Roseville. Coast was established in 2005 by Lebo Newman and Robert and Kelly Solomon. Coast has received many industry awards and accolades and recently has been named a “Best Place to Work” in the North Bay for the seventh year. http://www.CoastLM.com
About Signature Landscapes
Signature Landscapes is the largest landscape contracting company in Northern Nevada and designs, builds and maintains landscapes for commercial, residential, hospitality and resort properties in the greater Reno/Tahoe market area. The company’s team of highly trained horticulturists, certified landscape professionals and arborists have received many local and industry awards for excellence, including the recent “Best Landscaper in Northern Nevada” by the Reno News and Review. Signature has been led since its founding by Lebo Newman, a longtime industry veteran who has participated in the growth of several large landscape contracting firms in the Western United States. http://www.signaturelandscapes.net
About Central Valley Fund (CVF)
The Central Valley Fund was established in 2005 to finance later-stage growth and buy outs of small businesses through mezzanine debt and preferred equity investments. The Fund has over $325 million in committed capital and has offices in California – Davis, Fresno and San Diego – and in the Pacific Northwest in Portland, OR. It is focused on making investments in California’s Central Valley and throughout the Western United States. http://www.CVFcapitalpartners.com