HCI Equity Partners-Backed LawnPRO Partners Acquires Gro-Masters

Expands footprint to Savannah, GA, Charleston, SC, and Myrtle Beach, SC

WASHINGTON, DC, January 27, 2025 — LawnPRO Partners (“LawnPRO”), a platform focused on residential lawn care treatment and tree, shrub and pest control services backed by HCI Equity Partners, today announced the acquisition of Gro-Masters (“Gro-Masters” or “the Company”). This represents LawnPRO’s eleventh acquisition for its rapidly growing platform. Terms of the transaction were not disclosed.

Based in Savannah, GA, Gro-Masters provides lawn care treatment, exterior pest control, and tree & shrub care services to residential and commercial customers. The Company was founded in 1987 and is led by Lynn Tootle, who will continue to lead the company as President after the acquisition.

Bill Viveen, CEO of LawnPRO Partners, said, “Gro-Masters has a proud history of providing exceptional service to its customers for over 35 years. We are thrilled to welcome the Gro-Masters team and look forward to continuing their tradition of outstanding service while expanding into new markets in South Carolina and Georgia.”

“At Gro-Masters, we’ve built a strong culture and a reputation as a great place for lawn care professionals to grow their careers. Partnering with LawnPRO is an exciting step forward, and I look forward to continued growth with their support,” said Mr. Tootle.

LawnPRO Partners intends to make significant investments in people, infrastructure and M&A for its growing platform. The firm welcomes inquiries from lawn care treatment businesses interested in becoming part of the platform.

Quarles & Brady served as legal counsel to LawnPRO Partners. Green Industry Advisors served as financial advisor to Gro-Masters.

About LawnPRO Partners
LawnPRO Partners, backed by HCI Equity Partners, is a platform focused on providing high-quality lawn care treatment, tree and shrub services and pest control to residential customers.

About HCI Equity Partners
HCI Equity Partners is a lower market private equity firm focused on partnering with family- and founder-owned distribution, manufacturing and service companies. HCI is headquartered in Washington, DC. For more information, please visit oridiancapital.com/.

WASHINGTON, DC, January 23, 2025 —HCI Equity Partners, a lower middle market private equity firm, announced today that it has been named to Grady Campbell’s list of the 2025 Top 50 Private Equity Firms in the Middle Market™. This marks the fifth consecutive year that HCI has appeared on the list.

Founded in 2016, the Top 50 PE Firms in the Middle Market list is designed specifically to acknowledge and promote leading small and mid-sized private equity firms in the middle market. The list recognizes firms that demonstrate excellent leadership, a strong track record and a trusted reputation with business owners.

“It’s an honor to once again be recognized for our efforts to build leading companies through partnerships that nurture sustainable businesses,” said Doug McCormick, Managing Partner at HCI. “We collaborate with company owners and management teams to pursue organic growth and strategic acquisitions that allow organizations to scale. We’re proud that HCI’s financial and operational support empowers our companies to identify meaningful opportunities and achieve transformational growth.”

Click here to view the full list and for more information on Grady Campbell’s Top 50 PE Firms in the Middle Market Award Program.

*Disclaimer: Grady Campbell’s Top 50 PE Firms in the Middle Market award is a program designed by Grady Campbell. Small to mid-sized private equity firms are eligible to apply. Winning firms are selected based upon their volume of investment activity, firm policies and references from intermediaries, founders and advisors. HCI is not aware of the number of advisers surveyed for the award. HCI did not pay a fee to be considered for this award. This award is not to be construed as indicative of HCI’s future performance. This award represents information as of December 2024 and may not reflect important information related to an evaluation of the investment adviser which has occurred prior to, or subsequent to, the award.

Further expands footprint in Pennsylvania to South Central PA

WASHINGTON, DC, January 9, 2025 — LawnPRO Partners (“LawnPRO”), a platform focused on residential lawn care treatment and tree, shrub and pest control services backed by HCI Equity Partners, today announced the acquisition of Green Image Lawn Care (“Green Image” or “the Company”). This represents LawnPRO’s tenth acquisition for its rapidly growing platform. Terms of the transaction were not disclosed.

Based in York and Lancaster, PA, Green Image provides lawn care services and fertilization, soil testing, tree & shrub care, flea & tick, and mosquito control to residential and commercial customers. The Company was founded in 2016 and is led by Luke Zimmerman and Ryan Freed, who both received Turfgrass Science degrees from Pennsylvania State University and will continue to lead the company after the acquisition.

Bill Viveen, CEO of LawnPRO Partners, said, “Luke and Ryan have built a successful professional lawn care service rooted in being the best place for lawn care technicians to build their careers.  The culture they have created is outstanding!  We are proud to welcome the Green Image team to LawnPRO and look forward to working alongside them to grow their business in Pennsylvania and beyond.”

“We bring a scientific approach to custom designing healthy, green lawns using eco-friendly practices and we believe LawnPRO will be an excellent partner to help us expand our services to new customers and markets,” said Luke Zimmerman and Ryan Freed, founders of Green Image.

HCI intends to make significant investments in people, infrastructure and M&A for the growing LawnPRO Partners platform. The firm welcomes inquiries from lawn care treatment businesses interested in becoming part of the platform. Please contact Nate Novak at nnovak@hciequity.com.

Quarles & Brady served as legal counsel to HCI.

About HCI Equity Partners
HCI Equity Partners is a lower-middle market private equity firm focused on partnering with family and founder-owned distribution, manufacturing, and service companies. HCI is headquartered in Washington, DC. For more information, please visit  oridiancapital.com/.

About LawnPRO Partners
LawnPRO Partners is a platform backed by HCI Equity Partners, a leading lower-middle market private equity firm. It is focused on providing high quality lawn care treatment, tree and shrub services and pest control to residential customers.

Company’s ninth acquisition continues expansion into Midwest

WASHINGTON, DC, December 20, 2024 — LawnPRO Partners (“LawnPRO”), a platform focused on residential lawn care treatment and tree, shrub and pest control services backed by HCI Equity Partners, today announced that it acquired Meehan’s Lawn Service (“Meehan’s” or “the Company”). Meehan’s is the ninth acquisition for LawnPRO Partners. Financial terms were not disclosed.

Based in Brook Park, OH, Meehan’s was founded in 1993 by Tim and Deanna Meehan and provides lawn fertilization, tree & shrub care, mulch bed weed control, perimeter pest control, and flea & tick treatment services to residential customers in Northeast Ohio. Meehan’s is LawnPRO’s second acquisition in Ohio and strengthens its geographic footprint in the Cleveland, OH market.  Tim and Deanna Meehan will continue to lead the business under LawnPRO’s ownership.

“Tim and Deanna have built a strong business rooted in customer service, and their presence in Ohio illustrates our commitment to expansion in that market,” said Bill Viveen, CEO of LawnPRO Partners. “We’re delighted to welcome the Meehans and their team to the LawnPRO family and look forward to working with them as we continue to strengthen our market position across a broader footprint.”

“After considering several potential platforms, we found that LawnPro Partners, with its track record of partnering with family and founder-owned businesses, was the right fit for us as owners, for our son who works with us, for our employees and for our customers,” said Tim Meehan. “Our future is looking brighter, and we are happy to be working with a partner who shares our values and vision.”

HCI intends to make significant investments in people, infrastructure and M&A for the growing LawnPRO Partners platform. The firm welcomes inquiries from lawn care treatment businesses interested in becoming part of the platform. Please contact Nate Novak at nnovak@hciequity.com.

Quarles & Brady served as legal counsel to HCI.

About HCI Equity Partners
HCI Equity Partners is a leading lower-middle market private equity firm focused on partnering with family and founder-owned distribution, manufacturing, and service companies. HCI is headquartered in Washington, DC. For more information, please visit  oridiancapital.com/.

About LawnPRO Partners
LawnPRO Partners is a platform backed by HCI Equity Partners, a leading lower-middle market private equity firm. It is focused on providing high quality lawn care treatment, tree and shrub services and pest control to residential customers.

December 15, 2024 – We are delighted to announce that Sutton Place Strategies has once again recognized HCI as a top quartile deal originator in its peer group of quasi-generalist, lower middle market firms! This peer group includes deals with a $10-249 million enterprise value range.

Released annually, the SPS Benchmark Report is the industry standard for private equity deal sourcing analytics. This report enables objective analysis of each firm’s sourcing performance in granular detail, alongside comparable firms and the industry at large. The 2024 edition includes 176 qualified PE firms, segmented into eight different peer groups. This marks the twelfth year that SPS has published its Deal Origination Benchmark Report and the third year in a row that HCI has been recognized.

At HCI, we are very proud to have sourced over 2,000 deals in the last year alone, and we want to acknowledge the outstanding work that Tim Frend and Michael Allen do leading our business development efforts.

Learn more about HCI’s investment strategy here or reach out to Tim Frend at tfrend@hciequity.com or Michael Allen at mallen@hciequity.com.

SPS Bain & Company (now called Sutton Place Strategies (SPS) by With Intelligence as of 2025) recognized Oridian as a top quartile deal originator in the lower middle market for deals sourced through LTM June of each year above. The award is typically issued in September of each respective year. Oridian did not pay a fee or apply to be recognized as a top quartile deal originator for the lower middle market. For more detail on this award, contact Tim Frend at tfrend@oridiancapital.com.

Accomplished corporate officer to lead HCI’s new automotive aftermarket distribution platform 

WASHINGTON, DC, November 19, 2024 — HCI Equity Partners (“HCI”), a lower middle market private equity firm, today announced the appointment of Matt Johnson as CEO of its recently launched automotive aftermarket distribution platform Driven Distribution Group (“Driven Distribution”). The announcement comes on the heels of Driven Distribution’s acquisition of the auto parts and accessories distribution business of Chicago Parts & Sound (“CPS”) in October 2024 and the recapitalization of Tri-State Enterprises, Inc. (“Tri-State”) in November 2023.

“We are delighted to welcome Matt to Driven Distribution,” said Scott Gibaratz, Partner at HCI. “He brings with him a wealth of experience in leading large automotive aftermarket businesses, integrating and growing multi-business unit companies, managing rapid-paced acquisitions, and building scalable processes and teams. Matt aligns seamlessly with our team, our culture, and our strategic objectives, and we believe he will be instrumental in driving our continued success.”

Most recently, Mr. Johnson was CEO of EiKO Global, a manufacturer and distributor of LED lighting appliances and fixtures. Previously, he held the title of Chief Operating Officer and Executive Vice President at both Pep Boys, an automotive aftermarket service and repair provider, and Parts Authority, a distributor of automotive aftermarket parts. Prior to those positions, he served as President of Altrom Group, Interamerican Motor Corporation and Westborough Management Group, LLC. Mr. Johnson holds an MBA from Wake Forest University.

“I’m eager to bring my operational and management experience in the automotive aftermarket industry to Driven Distribution,” said Mr. Johnson. “The company has an established track record of impressive organic growth, robust M&A, and a strong reputation built by Tri-State and CPS. I look forward to guiding Driven Distribution’s growing operations as we expand into new regions and partner with new businesses, all while continuing to provide best-in-class service to our customers.”

About HCI Equity Partners
HCI Equity Partners is a lower middle-market private equity firm focused on partnering with family and founder-owned distribution, manufacturing, and service companies. HCI is headquartered in Washington, DC. For more information, please visit oridiancapital.com/.

About Driven Distribution Group
Backed by HCI Equity Partners, Driven Distribution Group is a warehouse distributor of automotive aftermarket hard parts, consumables, and accessories. The platform focuses on delivering operational excellence, outstanding customer service, and fostering an innovative, growth-oriented environment. By uniting strong brands under one umbrella, Driven Distribution aims to create a leading platform in the automotive aftermarket industry. For more information, please visit www.drivendistributiongroup.com.

 

WASHINGTON, DC, November 11, 2024 – HCI Equity Partners (“HCI”), a lower middle market private equity firm, today announced that it has been recognized by Inc. for the fifth consecutive year as a 2024 Founder-Friendly Investor. Inc.’s annual list recognizes the private equity and venture capital firms with the strongest track record of successfully backing entrepreneurs and remaining actively involved with the businesses they invest in.

“We are honored to be named to Inc.’s Founder-Friendly Investors list for the fifth year in a row,” said Doug McCormick, Managing Partner at HCI. “This recognition from Inc. reflects our commitment to building meaningful, collaborative partnerships with founders and our strategy of active engagement which lays a foundation for transformational growth. By aligning closely with our portfolio companies, we are able to unlock each business’s full potential—whether through organic growth initiatives or strategic acquisitions. Witnessing these companies’ continued success is incredibly rewarding and validates the strength of our approach.”

Inc. compiled the 2024 list by selecting firms with strong track records of supporting founder-led companies through a combination of financial backing and active collaboration. The list celebrates firms that are trusted by entrepreneurs to help fuel their business growth while maintaining an ongoing partnership.

“Partnering with HCI has been a transformative experience for ACR as we have grown from regional family businesses into a market leader and trusted partner for our customers,” said Scott Milberg, CEO of ACR.  “HCI’s commitment to a collaborative approach and dedication to growth have enabled us to expand revenue by nearly 30x, scale from a single warehouse to 18 locations across North America and grow our team to nearly 1,000 employees. HCI’s partnership has been foundational to our success and continues to drive our vision forward.”

Bob Hund, Operating Partner at HCI, added, “This award is especially meaningful as it’s based on feedback from our portfolio companies’ founders. We understand their needs because over 90% of our current platform investments have been with founders and family-owned businesses. This recognition is a testament to the trust we’ve built with founders and our commitment to driving their success and sustaining their legacy.”

Disclaimer: Inc. Magazine’s Founder-Friendly Investors is a published list of U.S. founder-friendly private equity firms. HCI has paid a fee to be considered for this recognition. Private equity firms that have exited U.S.-based, founder-led, public or private, portfolio companies within the past five years were eligible to apply. This recognition is based on the analysis of and information gathered by Inc. Magazine using its own criteria and methodologies. As part of the vetting process, Inc. Magazine interviewed one or more portfolio company representatives about their experience partnering with HCI. For investments to qualify, portfolio company founders must have remained actively involved in their business for at least one year post-investment. The complete list of private equity firms considered for this award is not known to HCI. The award reflects information about a sample of portfolio companies and may not be representative of every portfolio company’s experience with HCI. There is no guarantee that similar awards will be obtained by HCI in the future. Portfolio companies should make their own determinations about the prospects of partnering with HCI.

WASHINGTON, DC, October 31, 2024 –HCI Equity Partners (“HCI”), a lower middle market private equity firm that focuses on partnering with founder-owned service, distribution, and manufacturing companies, announced today the promotions of Nate Novak to Managing Director and Michael Allen to Vice President.

Mr. Novak joined HCI in 2014 and currently leads the firm’s investments in Tech24 and LawnPRO Partners. He has led firm initiatives in proactive thesis development, M&A consolidation best practices (leading 35 add-on transactions), and an expanded focus on technical service business models. Mr. Novak is also an active deal team member on current portfolio investments in WF Cabinetry and Regent cabinets as well as prior investments in The Delaney Hardware Company, Naumann Hobbs Material Handling, and Dynamic Systems, Inc. Previously, he worked at Robert W. Baird in both investment banking and equity research.

Mr. Allen joined HCI in 2021 and is responsible for evaluating, executing, and monitoring current and prospective investments made by the firm. He is an active deal team member on current portfolio investments in ACR (AmerCareRoyal, LLC), and Highland Commercial Roofing, and significantly contributes to the firm’s business development and deal origination activities. Mr. Allen began his career as an analyst at J.P. Morgan before moving to Adams Street Partners in the private credit group.

“The strength of our team is critical to HCI’s success, and both Nate and Michael have distinguished themselves as valuable contributors,” said Doug McCormick, HCI Managing Partner. “I’m proud to recognize their dedication and hard work with these promotions, and I look forward to their continued growth in these expanded roles.”

Chicago Parts & Sound is the second addition to HCI’s new automotive aftermarket distribution platform

WASHINGTON, DC, October 23, 2024 — HCI Equity Partners (“HCI”), a lower middle market private equity firm, today announced the launch of Driven Distribution Group (“Driven Distribution”), a new automotive aftermarket distribution platform. The launch coincides with Driven Distribution Group’s acquisition of the auto parts and accessories distribution business of Chicago Parts & Sound (“CPS” or the “Company”), following the recapitalization of Tri-State Enterprises, Inc. (“Tri-State”) in November 2023. Financial terms of the transaction were not disclosed.

By bringing together CPS and Tri-State under the Driven Distribution Group umbrella, HCI aims to establish a leading platform in the automotive aftermarket industry by equipping its brands with shared resources, strategic vision, investment, and advanced technology to enable its companies to deliver best-in-class customer service. Both CPS and Tri-State will continue to operate under their respective brands while benefiting from the shared resources of the Driven Distribution Group platform.

Scott Gibaratz, Partner at HCI, said, “We are thrilled to welcome the CPS team to the Driven Distribution platform. Consistent with our original platform thesis, CPS represents a geographically strategic beachhead in the Midwest and is a great complement to Tri-State’s existing product categories. We look forward to working together to achieve our shared vision for growth.”

Based in Elk Grove Village, IL, with additional locations in Illinois and Wisconsin, Chicago Parts & Sound is a warehouse distributor focused on automotive aftermarket parts, batteries, consumables, and accessories. The Company serves auto dealerships, independent repair shops, municipalities/governments, and company fleets.

Chicago Parts & Sound was founded in 1978 and acquired by Bob and Jackie Lederer in 2002. Under their management, CPS has achieved a track record of success with excellent, value-added products and services and expanded capabilities through several acquisitions. Bob and Jackie Lederer are reinvesting in the Driven Distribution platform as part of the transaction and will continue to own and operate Police Department Systems (police and emergency vehicle upfitting services) and Coachcraft & Precision Services (specialty auto restoration services).

Bob Lederer, Co-Owner of CPS, said, “the growth of Tri-State Enterprises parallels that of CPS – just in a different part of the country. Opportunities to combine businesses of such similar backgrounds, culture, and customer focus make tremendous sense for all stakeholders in each company.”

“We are extremely impressed with the stellar business and established market reputation Bob and Jackie Lederer have built over the past 22 years. The combination of CPS and Tri-State as part of the Driven Distribution Group platform will enable us to expand our resources and capabilities to better serve our employees and customers,” said Tristan Taylor, CEO of Tri-State.

Dickinson Wright PLLC served as legal counsel to HCI and Driven Distribution.

About HCI Equity Partners
HCI Equity Partners is a lower middle-market private equity firm focused on partnering with family and founder-owned distribution, manufacturing, and service companies. HCI is headquartered in Washington, DC. For more information, please visit oridiancapital.com/.

About Driven Distribution Group
Backed by HCI Equity Partners, Driven Distribution Group is a warehouse distributor of automotive aftermarket hard parts, consumables, and accessories. The platform focuses on delivering operational excellence, outstanding customer service, and fostering an innovative, growth-oriented environment. By uniting strong brands under one umbrella, Driven Distribution aims to create a leading platform in the automotive aftermarket industry. For more information, please visit www.drivendistributiongroup.com.

ACR Accelerates Growth with Tenth Add-on Acquisition

EXTON, PA, October 9, 2024 – ACR (AmerCareRoyal, LLC), a leading supplier of essential foodservice supplies backed by HCI Equity Partners (HCI), is pleased to announce its acquisition of Mat-Pac, Inc., a leading supplier of products to the North American foodservice and janitorial/sanitation (“JanSan”) markets. This strategic acquisition strengthens ACR’s product portfolio and extends its reach into new markets, further enhancing ACR’s ability to serve customers with a broader range of high-quality solutions.

Founded in 1988, Mat-Pac Inc. is a leading supplier of paper, plastic, aluminum, and sustainable packaging solutions, with expertise in global sourcing, private labeling, and contract packaging for the North American foodservice and JanSan markets. Renowned for its trusted brands, including Captiva, Sanibel, and Dine-Out, Mat-Pac has established a strong presence over the past 35 years in the industry.

“We are thrilled to welcome Mat-Pac into the ACR family,” said Scott Milberg, CEO of ACR. “This acquisition marks a significant step forward in our growth strategy, enabling us to enhance the customer experience and expand our product offerings across our broad North American distribution network. It will accelerate the value we provide to customers, fuel our growth, and further differentiate ACR in the marketplace. Mat-Pac shares our commitment to quality and innovation, making them an ideal fit for our organization.”

“ACR’s acquisition of Mat-Pac marks an exciting opportunity to leverage synergies and accelerate growth,” Doug McCormick, Managing Partner at HCI. “We are confident that this partnership will unlock new potential and position ACR for long-term success.”

“Mat-Pac is excited to join ACR, a company with a proven track record of excellence,” said Manny Jimenez, CEO of Mat-Pac. “We look forward to expanding our impact and delivering a broader range of products to our customers.” The Jimenez family remains invested in ACR and will continue to play an integral role in leading Mat-Pac.

Greenberg Traurig, LLP served as legal counsel to ACR. DAK Group acted as the financial advisor to Mat-Pac and Day Pitney LLP served as legal counsel.

About HCI Equity Partners
ACR HCI Equity Partners is a lower middle market private equity firm focused on partnering with family and founder owned distribution, manufacturing, and service companies. HCI is headquartered in Washington, DC. For more information, please visit hciequity.com.

About ACR
ACR is a single stream resource for essential packaging and preparation products used in the foodservice, janitorial, sanitation, education, industrial, hospitality, and healthcare industries. With multiple shipping points across North America, our family of brands service national level customers with outstanding customer service and an ever-growing product line. For more information about the ACR brand and to explore ACR’s comprehensive range of foodservice essentials and packaging solutions, please visit WeAreACR.com.

About Mat-Pac Inc.
Founded in 1988, Mat-Pac Inc is a leading supplier of paper, plastic, aluminum, and sustainable packaging solutions, with expertise in global sourcing, private labeling, and contract packaging for the North American foodservice and JanSan markets. For more information, visit mat-pac.com.