Bland Landscaping Eyes Future Growth with Comvest After Prospect Partners Exit

Deal News | Dec 11, 2024 | Prospect Partners LLC

Prospect Partners, a private equity firm focused on pre-middle market companies, has exited its investment in Bland Landscaping. The landscaping company, led by CEO Kurt Bland and CFO/COO Matt Bland, will enter a new phase of growth with Comvest Private Equity. Prospect Partners initially invested in the North Carolina-based business in 2017, working alongside Bland’s management to transform the company from a design-oriented service provider to a leading commercial landscaping firm. Over the course of Prospect's investment, Bland expanded through strategic acquisitions and improved operational capabilities. The company, which was started in 1976 and taken over by the Blan brothers in 2005, has grown its workforce to over 700 employees across 12 branches, becoming a major player in the Carolina markets. With its proven buy-and-build strategy, Bland Landscaping looks forward to further success in the Southeast under new guidance.

Sectors

  • Private Equity
  • Landscaping and Horticulture
  • Commercial Services

Geography

  • United States – The involved entities, Prospect Partners and Bland Landscaping, operate within the U.S. market. Bland Landscaping serves clients primarily in North and South Carolina.
  • North Carolina – Bland Landscaping, based in Apex, NC, provides services across North Carolina.
  • South Carolina – The company also extends its services to customers across South Carolina.

Industry

  • Private Equity – The article centers around a transaction involving a private equity firm, Prospect Partners, exiting its investment in Bland Landscaping.
  • Landscaping and Horticulture – Bland Landscaping operates in the landscaping services industry, providing maintenance and enhancement services across various markets in the Carolinas.
  • Commercial Services – Bland Landscaping offers commercial services across a range of sectors, including homeowners associations and industrial centers.

Financials

  • 7 – The number of add-on acquisitions Bland Landscaping completed during Prospect's investment period.
  • 700+ – The number of team members employed by Bland Landscaping across its network.

Participants

NameRoleTypeDescription
Prospect Partners LLCSelling CompanyCompanyA private equity firm known for investing in pre-middle market companies.
Bland LandscapingTarget CompanyCompanyA comprehensive landscaping service provider operating primarily in the Carolinas.
Comvest Private EquityBidding CompanyCompanyThe new private equity firm partnering with Bland Landscaping for its next growth phase.
Citizens M&A AdvisoryFinancial AdvisorCompanyServed as the exclusive financial advisor for Bland Landscaping in this transaction.
DLA Piper LLPLegal AdvisorCompanyProvided legal counsel to Bland Landscaping during the transaction.
Kurt BlandCEOPersonCEO of Bland Landscaping, pivotal in the company's transformation and growth.
Matt BlandCFO and COOPersonCFO and COO of Bland Landscaping, instrumental in operational advancements and strategic growth initiatives.
Brad ODellPartner at Prospect PartnersPersonExpressed sentiments about Prospect Partners' exit from Bland Landscaping.
Erik MaurerPartner at Prospect PartnersPersonCommented on the growth under Prospect Partners' guidance.