Shoreline Equity Partners, a lower middle market private equity firm, has acquired American Landscaping Partners.
Headquartered in Nashville, Tennessee, ALP provides commercial and residential landscaping and chemical application services. Under the leadership of the CEO, Stefan Banks, the business has completed six acquisitions and has grown to more than 500 employees servicing customers throughout Tennessee, Florida, Pennsylvania and Ohio.
In partnership with Shoreline, ALP will continue to execute on an aggressive growth plan via organic initiatives and acquisitions. The new partnership with Shoreline provides the company with expertise in the facility and residential services sector and offers access to additional capital needed to partner with other leading landscaping providers across the U.S. The management team continues to maintain an ownership position in the business and will continue to lead the Company going forward.
“Stefan and the broader ALP team have built an exceptional company, and we are beyond excited to partner with them to grow the business through add-on acquisitions,” says Mike Hand, a managing partner at Shoreline. “It was clear from our first conversation that ALP would be a great fit for Shoreline due to the quality of the business and its people. We are so appreciative they chose us as partners and we look forward to collectively executing on an ambitious growth vision for ALP over the years to come.”
“The team at ALP has built an exceptional brand and reputation as the go-to landscaping service provider for its customers. We are very much looking forward to helping ALP embark on its next phase of growth,” says Ian Garland, principal at Shoreline.
“We are thrilled about our partnership with Mike, Ian, and the wonderful Shoreline team. It was incredibly important that we found a partner that aligned with our core values. As we continue to execute on our growth strategy while remaining committed to service, we wanted a partner with experience in doing just that,” says CEO Stefan Banks. “Through building a relationship with Shoreline, we knew they understood where we are today and where we are looking to go in the future.”
The transaction for Shoreline was led by Hand and Garland, plus Pete Bouret, senior associate; Mike Dolak, associate; and Catee de Roziere, analyst. Senior financing for the transaction was provided by Apogem Capital and NXT Capital. William Blair served as the exclusive financial advisor to ALP in the transaction.
