HCI Equity Partners acquires Grasshopper Lawns

HCI Equity Partners recently acquired Grasshopper Lawns, a lawn care services company headquartered in Larksville, Pa.

HCI Equity Partners is a lower middle market private equity firm focused on partnering with family and founder owned companies. The transaction closed on June 30, 2023.

Founded in 1964, Grasshopper Lawns is a fourth-generation, family-owned provider of lawn care treatment services to residential customers across Eastern Pennsylvania. “The company has built a strong reputation for delivering a wide range of high-quality services, including lawn treatment and fertilization, aeration, mosquito and pest control and tree and shrub services,” according to the news release.

“We are excited about this new chapter in the history of Grasshopper,” said Michael Kravitsky IV, Grasshopper’s owner and president. “We’ve enjoyed our time getting to know the HCI team and firmly believe partnering with them will provide us with the resources and support needed to provide increased opportunities to our family of employees, accelerate our growth initiatives, expand our service offerings and ultimately deliver an even better experience to our valued customers.”

Kravitsky will remain with Grasshopper in a consulting and board role, and the day-to-day operations will transition to Michael Kravitsky V, which continues a trend of family leadership that has spanned for decades.

“The investment thesis HCI has developed for the lawn care treatment market is highly favorable. It has a route-based, recurring service model with growing, resilient customer demand for services, in a large and very fragmented market, making it a strong candidate for aggressive M&A consolidation,” said HCI Principal Nate Novak. “We believe Grasshopper is an ideal starting point for us to build a leading player in the industry that offers best-in-class service to customers.”

LR Tullius represented and acted as exclusive financial advisor to Grasshopper Lawns on the transaction.

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from Pest Management Professional https://www.mypmp.net/2023/07/12/hci-equity-partners-acquires-grasshopper-lawns/
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