Acquisition of Zodega Marks Active Period for the Firm (Following a Successful Realization of Brothers National)
Lincoln Road Global Management, LLC (“Lincoln Road”), a private equity firm focused on lower middle-market companies, today announced that it has completed the acquisition of Zodega (“the Company”), a provider of high-quality, full-service landscaping, and lawn care services. Financial terms of the transaction were not disclosed.
Headquartered in Houston, TX, Zodega serves commercial customers, providing a full suite of landscaping services and exemplary customer service. Services Zodega provides include overall landscape maintenance, lawn care, irrigation system management, and ancillary services with locations in Houston and Dallas. Zodega’s customer base includes property management companies, industrial complexes, office buildings, and apartment complexes.
“We are excited to partner with Zodega’s talented management team and provide it with the capital and resources to support its strong trajectory, while continuing to identify growth opportunities that bolster its ability to better serve customers throughout Texas,” said Jeff Magny, Founder and Managing Partner of Lincoln Road. “This transaction is another example of Lincoln Road’s ability to identify an attractive investment opportunity involving a business that provides local and regional communities with essential services that support overall quality of life and well-being.”
Zodega has acquired and integrated nine landscaping businesses in the last six years.
“We are thrilled to be partnering with Lincoln Road, a firm known for its collaborative approach in supporting entrepreneurs, founders, family owners, and management teams who are interested in growing their businesses to that next level,” said Robert Dihu, Co-President and Partner of Zodega. “With the support of Lincoln Road, we believe that Zodega is well positioned to pursue this next stage of growth.”
“Clear communication and a well-defined strategic plan were important to us while finding the right group to partner with and Lincoln Road exceeded expectations in both,” said Larry Litton, Co-President and Partner of Zodega. “We are extremely excited about all Lincoln Road brings to the table and believe we have found the ideal partner to fuel Zodega’s growth plan.”
Lincoln Road has considerable experience investing in and building growing businesses that provide essential services and job creation in local communities. The firm invests in founder-owned companies primarily in the services space and has maintained an active pipeline of transaction opportunities amid the current market dislocation.
Lincoln Road has generated significant value creation for its investors. In February, the firm realized a successful investment in the nation’s premier asphalt, concrete, and paving solutions business, Brothers National, and in 2021 exited Republic Fire Protection, a supplier and servicer of fire extinguishers, emergency lighting, and fire sprinklers.
About Lincoln Road Global Management
Lincoln Road is a private equity firm making control investments in lower middle market buy-and-build opportunities in North America. Lincoln Road targets founder- and family-owned businesses providing essential services and producing essential goods in fragmented industries where it believes there are an abundance of untapped growth opportunities that would benefit from operational intervention coupled with an acquisition strategy. Please visit www.lincolnroadmgmt.com for more information.
About Zodega
Zodega is a full-service landscaping and lawn care contracting services business based in Houston and Dallas, Texas. The all-inclusive lawn maintenance services provider allows customers to bundle all their landscaping, irrigation system, and other many maintenance needs into one predictable monthly fee. For more information, please visit www.zodega.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230319005054/en/
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