Apax Funds is buying SavATree, a professional tree, shrub and lawn care provider, from CI Capital Partners.
Founded in 1978 and headquartered in Bedford Hills, N.Y., SavATree is provides tree, shrub and lawn care services and has been caring for residential, commercial and government properties for more than 40 years. The company services customers in 27 states through 58 locations.
Apax Funds, in partnership with SavATree’s leadership team, hopes to accelerate the company’s growth trajectory organically and through strategic purchases.
“We’ve built SavATree into a company that people trust and rely upon across the U.S., and Apax has the experience and know-how to help us achieve our ambitious, global growth plans while staying true to our customer-centric, environmentally responsible approach. Together with our dedicated teams, we can’t wait to start this next chapter of the business,” said Daniel van Starrenburg, executive chairman of SavATree.
Apax was advised by Kirkland & Ellis LLP (legal adviser), Deutsche Bank (lead financial adviser) and Baird (financial adviser). SavATree was advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP (legal adviser) and Harris Williams (financial adviser).
The transaction is subject to customary closing conditions and is expected to close in Q4 2021. Terms of the transaction were not disclosed.
