Investor buys stake in landscaping company | 2019-12-26 – grbj.com

A landscape management company in the area just got an infusion of growth capital, thanks to an equity investor.

An undisclosed investor recently acquired a minority stake in Augusta-based Turf Works, according to Grand Rapids-based Calder Capital.

Turf Works co-owners Dave Konkle and Kevin Boucher approached Calder Capital earlier this year seeking advice on how to grow the companys customer base.

After consulting with Max Friar, managing partner of Calder Capital, Konkle and Boucher decided the best course of action was not to sell the company but instead to look for an investor willing to provide growth capital.

After a lengthy search, an individual investor was found who turned out to be a perfect fit, they said.

Calder Capital provided us with several quality investors, and after careful consideration, we are very pleased with our new partner and believe we have succeeded in beginning to take our company to the next level, the co-owners said.

When people think about mergers and acquisitions, they generally do not think about partner buy-ins; however, there are a lot of qualified investors interested in taking majority and minority positions in established and profitable companies like Turf Works, Friar said.

Taking on a partner is a sensitive issue, and we are very pleased it worked out so well for Kevin and Dave at Turf Works.

Ghazey Aleck, an associate with Calder Capital, served as the lead M&A adviser for Turf Works for this transaction.

This represented Calder Capital/Small Business Deal Advisors 21st transaction of the year.

Turf Works

Founded in 1991, Turf Works is a professional landscape management company offering a variety of lawn care services, including mowing, fertilization and turf management; tree and shrub trimming; snow removal services; and a 24/7 emergency hotline.

Turf Works serves industrial, retail, residential, education and municipal clients.

The business employs 10 core staff members and part-time/contract laborers as needed.

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Investor buys stake in landscaping company | 2019-12-26 - grbj.com