HCI Equity Partners Announces Investment in Custom Lawn Care, Inc.
Marks the Second Investment in HCI's Lawn Care Treatment Platform
BUTLER, Pa., Aug. 2, 2023 /PRNewswire/ -- HCI Equity Partners ("HCI"), a leading lower middle-market private equity firm, today announced that it made a majority investment in Custom Lawn Care, Inc. ("Custom" or the "Company") on August 1, 2023. This is the second investment in HCI's thesis-driven strategy to consolidate companies in the large and fragmented market of residential lawn care treatment, tree and shrub services and pest control. Financial terms were not disclosed.
Based in Butler, PA, Custom is a second-generation, family-owned provider of lawn care treatment services to residential and commercial customers in the Pittsburgh metro area. The Company specializes in lawn care, tree and shrub care, tick and pest control, aeration and hydroseeding, and has built a reputation for quality service and customer satisfaction. HCI's acquisition of Custom provides its lawn care treatment platform with geographic expansion into a second Pennsylvania market, as Grasshopper Lawns, Inc., the first acquisition completed within the platform, is located adjacently in Larksville, PA. Custom is led by brothers Rick and Robb Ritenour, who will remain with the Company after the transaction and continue to run the day-to-day operations.
"We're very impressed by the Ritenour family and the high standard of service and customer satisfaction that Custom has established among its customers in the Pittsburgh metro area," said Nate Novak, Principal at HCI. "Growing the platform's presence in Pennsylvania and the broader Mid-Atlantic is a key priority, and the acquisition of Custom is a positive step in that direction."
"The HCI team has been great to work with and stuck to their word the whole process," said Rick Ritenour of Custom. "We are excited to partner together and help HCI build a leading lawn care platform in Pennsylvania and beyond."
Doug McCormick, Managing Partner at HCI, said "Our vision is to build a leading player in the lawn care industry, and Custom is a strong addition. Custom brings an excellent customer-focused service model and expands the platform to a second market in Pennsylvania. We look forward to partnering with the Ritenour family and entire Custom team."
Quarles & Brady served as legal counsel to HCI.
About Custom Lawn Care, Inc.
Custom Lawn Care is a provider of lawn care treatment services to residential and commercial customers in the Pittsburgh, Pennsylvania metro area. For more information, please visit www.customlawncareinc.com.
About HCI Equity Partners
HCI Equity Partners is a lower market private equity firm focused on partnering with family and founder-owned distribution, manufacturing and service companies. HCI is headquartered in Washington, DC. For more information, please visit www.hciequity.com.
Contacts:
Kelsey Clute, VP, Director of Communications, HCI
[email protected]
Megan Bowman, Lambert
mbowman@lambert.com
SOURCE HCI Equity Partners
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