Aug. 25, 2022: CenterOak Becomes Latest PE Firm to Launch Lawn Care Platform
Plus, Red Dog expands car wash business, and Huron exits an HVAC maintenance business
Read the top headlines from Thursday, August 25, 2022 below:
CenterOak Debuts Lawn Care Platform
Middle-market private equity firm CenterOak Partners announced the formation of its residential lawn care services platform, the result of the merger of Turf Masters Lawn Care Services, All Turf Holdings, and Green Group Holdings. Turf Masters founder Andy Kadrich will lead the combined entity as CEO, while existing owners and management will retain their equity interest in the company, a press release said. CenterOak noted that the combined business operates more than 20 branches across 10 states, which the firm plans to expand through organic growth and add-on acquisitions.
Red Dog’s Mammoth Expands Car Wash Operations
Mammoth Holdings, a car wash platform backed by Red Dog Equity, announced the opening of its newest locations in South Dakota and North Dakota. A press release said the two new car wash locations are part of Mammoth’s broader growth strategy, noting it is “actively seeking acquisitions and development opportunities.” Red Dog first acquired Mammoth in late-2018 through its partnership with Tom Pritzker family business interests. Today, Mammoth operates 107 locations.
Huron Exits HVAC Maintenance and Repair Business
Huron Capital, a middle-market private equity firm, said via press release that it has sold its majority interest in Pueblo Mechanical & Controls, which provides commercial HVAC and plumbing services. OMERS Private Equity has acquired the assets. Huron first invested in Pueblo in 2017, furling growth via an M&A strategy and investment in the company’s technology and infrastructure. The sale marks the private equity firm’s fourth platform exit in the last year.
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