CenterOak Partners, a Dallas-based private equity firm, announced the sale of Turf Masters Brands, Inc. (“Turf Masters Brands” or the “Company”), a provider of residential recurring lawn, tree and shrub care services, in a transaction with ExperiGreen Lawn Care. Both of these companies were featured in this year’s LM150 list. Turf Masters was ranked No. 25 and ExperiGreen was ranked No. 46. Terms of the transaction were not disclosed.
Turf Masters Brands, headquartered in Atlanta, Ga., provides recurring lawn, tree and shrub care services to over 200,000 homeowners across 12 states. During CenterOak’s investment, the company more than doubled its customer base and branch network, rising to over 40 locations and more than 1,100 employees. Turf Masters Brands differentiates itself through high-quality application work, exceptional customer service, investment in best-in-class equipment and a company culture that’s people first and focused on skills development and meaningful career opportunities.
“As the first institutional capital provider to Turf Masters Brands, we worked with management to build a group of strong regional operators into one of the nation’s premier residential lawn care platforms,” said Jason Sutherland, managing partner of CenterOak. “Investments in talent, systems, service offerings, and shared services created a platform capable of sustained growth. The resulting business transformation is a hallmark of CenterOak’s strategy, which has contributed to four successful exits in the last 24 months. We are proud of all that the team accomplished and believe Turf Masters Brands is well-positioned for continued growth under new ownership.”
“Teaming with CenterOak was one of the most important decisions we made for our family-owned business,” said Andy Kadrich, founder of Turf Masters Brands and CenterOak Operating Partner. “They shared our core values, they cared deeply about our legacy, and they made it clear from day one that they wanted to build a business with us. Together, we mapped out priorities and executed a growth plan that allowed us to triple earnings and surpass our goals.”
Harris Williams served as lead financial advisor to Turf Masters Brands, with William Blair & Company serving as a co-advisor. Gibson, Dunn & Crutcher LLP served as legal counsel to the Company.
