Generational Equity Advises O’Hara Management in Sale to LP First Capital and Centre Partners

By Generational Equity

11/10/2020

Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of O’Hara Management, LLC, to LP First Capital and Centre Partners. The acquisition closed October 9, 2020 and details were not disclosed.

O’Hara Management (O’Hara), located in Orlando, Florida, consists of four different entities primarily providing hardscape, irrigation, and landscape installation services to commercial home builders and developers. It provides landscape maintenance and irrigation monitoring to HOA communities, apartment complexes, and restaurants across central and the west-central coast of Florida.

Founded in 2004, the Company provides management services and back-office support for its four entities. O’Hara has established extensive personal contacts with commercial and residential builders, property management companies, and landscape contractors and nurseries throughout the region.

Each of the entities’ growth and success is driven by an outstanding reputation for providing high-quality landscape design and installation, reliable irrigation services, and healthy plant production, and a strong commitment to customer support. The Company employs 73 full-time and 3 part-time personnel, plus a General Manager, Purchasing Manager, Estimator, and 2 Project Managers.

Located in Austin, Texas, LP First Capital is a lower middle market private equity firm focused on the healthcare, business services and education industry. They specialize in growth capital, platform roll-ups, buyouts, and recapitalizations. Their sweet spot is to partner with founder-led or family businesses and help them scale to the next level by providing industry operational expertise and the right capital structure.

Centre Partners, located in New York, New York, was founded in 1986 and is a longstanding and leading middle market private equity firm. With offices in New York and Los Angeles, they specialize in making control investments in North American based businesses primarily in the consumer and healthcare industries. They seek to partner with experienced management teams who are passionate about their businesses, have meaningful economic stakes in their companies, are looking for more than capital from a financial partner, and with whom they share a common vision for future growth.

Centre Partners joined with independent sponsor LP First Capital to form United Land Services Holdings to consolidate the landscape services sector. United Land Services (ULS) has completed its first five acquisitions with the buys of United Landscapes, Blandford Turf, Tree World, O’Hara and River Region Sports Fields. These acquisitions give ULS operations in three cities in Florida (Jacksonville, Orlando and Port. St. Lucie) and two in Alabama (Birmingham and Montgomery). According to the company, it is now the 5th largest landscape platform in the Southeast.

ULS is led by CEO Bob Blandford who founded both United Landscapes and Blandford Turf.

“Centre is an excellent partner for ULS given its long track record of successfully collaborating with founders and entrepreneurs to scale their businesses,” said Mr. Blandford. “Centre and LP First’s financial and strategic resources will enable us to accelerate our growth trajectory, expand our service capabilities and strengthen our market leadership, allowing us to better serve our customers.”

“Centre is excited to partner with LP First, Bob Blandford and the ULS team,” said Jeff Bartoli, a partner of Centre Partners. “The company is well-positioned to capitalize on favorable industry tailwinds driving increased demand for landscaping services in the Southeast. We look forward to expanding the platform through strategic acquisitions across the region.”

Generational Equity Executive Managing Dir, M&A-Technology Practice Leader, David Fergusson and his team, led by Senior M&A Advisor, Mario Dieckmann, with support from Vice President, Mergers & Acquisitions, Alex Mironov, successfully closed the transaction. Executive Managing Director Edward G. Weber established the initial relationship with O’Hara.

“While the closing process presented unique challenges during this unprecedented COVID-19 period, it was the determination, flexibility, and compatibility of the buyer and seller that ultimately led to the successful transaction,” said Dieckmann.