Carousel Capital announced today that it has successfully realized a majority of its investment in Landscape Workshop (“LW” or “the Company”), a leading provider of route-based commercial landscaping services, including landscape maintenance, irrigation services, seasonal color programs, design and installation, and facility services. An Ares Private Equity Fund (“Ares”) has acquired a majority stake in the Company. Carousel Capital, which invested in LW in 2020, will retain a significant stake in the Company going forward.
For nearly 40 years, LW has provided professional service and expert maintenance for outdoor commercial spaces across various industries. Today, the Company has grown to be one of the largest landscaping companies in the U.S. With 38 locations across the Southeast, LW offers a comprehensive range of services, specializing in landscape maintenance and enhancements, seasonal color, irrigation systems, landscape installation, and other services. The Company is committed to delivering quality service through its team of dedicated professionals, including degreed horticulturalists, expert landscapers, irrigation specialists, and hundreds of year-round, E-verified, background-checked employees.
“This is a pivotal next step in Landscape Workshop’s journey and a credit to our exceptional team for their dedication to our disciplined growth strategy while maintaining quality service for our clients,” said J.T. Price, CEO, Landscape Workshop. “As one of the largest landscaping companies in the nation, we have focused on establishing a strong culture of high-performance, collaboration and entrepreneurship that extends across our operations.”
Price added, “On behalf of Landscape Workshop, I would also like to thank Carousel Capital. We are extremely grateful to their team for playing a key role in our growth over the past five years, and we look forward to continuing our relationship.”
Charles Grigg, Managing Partner of Carousel Capital, said, “It has been a privilege to partner with the Landscape Workshop team over the past five years as the business has expanded its footprint, strengthened its operations, and built a reputation for excellence across its markets.” Al Welch, Parter of Carousel Capital added, “We are so proud of what J.T. and his team have built – an industry leading consolidator, with a strong foundation that is ready to scale.” Both added, “Carousel Capital wishes Landscape Workshop and Ares continued success, and we are thrilled to continue as investors in the Company moving forward.”
Terms of the transaction were not disclosed. Piper Sandler served as financial advisor and K&L Gates LLP served as legal advisor to LW.
