Announcing the acquisition of Steven Smith Landscape

Steven Smith Landscape will serve as VEP's North County San Diego service arm

SAN DIEGO, CA, USA, September 30, 2023

Verde Equity Partners, a San Diego-based private equity buyout firm, is thrilled to announce the acquisition of Steven Smith Landscape, a prominent name in commercial landscape and property maintenance in Southern California for over 40 years.

Verde Equity Partners operates a vertical roll-up strategy for commercial landscaping companies. This approach involves consolidating owner-operated businesses with strong reputations, deep roots in the community, and exceptional teams. The investment strategy respects the legacy of the founders while building a sustainable platform that supports employee growth and superior customer service.

This is the second acquisition for the firm this quarter, aligning with the recent appointment of Tom Heaviland as CEO and operating partner of the platform. With over 40 years of industry experience, Heaviland enhances the leadership team and brings a track record of successfully executing similar strategies in the region.

"We are committed to delivering exceptional service at a fair price," stated Heaviland. "Our robust pipeline of potential acquisitions reflects the growing interest of sellers in achieving the right value for themselves, their teams, and their loyal customers. We are enthusiastic about the opportunities in California and the U.S. Southwest and remain dedicated to serving the landscaping needs of our customers throughout the region."

Steven Smith remains on the executive team, and works with Heaviland to integrate operations, update technology and seek opportunities for growth. Smith expressed his excitement to continue to provide the same stellar service his team has provided for almost 40 years in the San Diego area.

“The Verde team has the talent and tools to take our firm to the next level and our employees and clients will benefit from the scaled efforts under Tom Heaviland’s leadership.”

Verde Equity Partners will continue to actively pursue investment opportunities with the support of its investors while continuing its planned acquisitions of additional commercial landscaping companies located in and around the Southwest states.

For more information about Verde Equity Partners, please visit www.verdecompanies.com.

Barnes & Thornburg represented Verde Equity Partners in connection with the formation of the investment manager and the acquisition of Steven Smith Landscape, Inc.

The Barnes & Thornburg M&A team included Anthony Arnold, Victoria Rockefeller, and Lili Skrumbis; the fund formation team included Kerry Potter McCormick, Ogochukwu Chukwuma, Paige McHugh, and Travis Ortiz; the tax team included Michele Alexander and Albert Farr; and the employee benefits and executive compensation team included Mina Amir-Mokri.

About Verde Equity Partners:

Verde Equity Partners is a minority and US military veteran owned private equity firm specializing in control buyouts of great commercial landscaping companies across the Western U.S.

Media Contact:

Alan Baca | Head of Investor Relations | Verde Equity Partners | IR@verdecompanies.com | +1.619.492.0101