Huron Capital in Detroit, a leading middle-market private equity firm, today announced it has sold a majority interest in ExperiGreen Lawn Care to funds managed by Chicago-based Wind Point Partners. Terms of the deal were not disclosed.
Founded in 2016 and headquartered in Mishawaka, Ind., ExperiGreen provides customized fertilization, weed control, aeration, seeding, disease treatment, grub control, perimeter pest control, and tree and shrub care solutions to more than 140,000 residential customers in the U.S. and Canada.
Huron partnered with the company in 2022 and supported its expansion, including organic growth and 19 acquisitions that drove a greater than 10-fold increase to EBITDA, transforming ExperiGreen from an upstart lawncare provider into a regional powerhouse, according to company officials.
Since that time, ExperiGreen went from six locations to 27 branch locations.
Under its ExecFactor program, Huron recognized growth potential for do-it-for-me outsourcing of home services, increasing rates of home ownership, and the opportunity to drive better business outcomes with the integration of technology to enhance customer satisfaction, marketing effectiveness, and routing efficiency.
Huron partnered with a group of industry executives led by President John Moehn in 2022 to scale ExperiGreen to become a leader in the lawncare space. The ExecFactor strategy also brought together the guidance and leadership of Co-Chairmen David Alexander (former CEO of TruGreen, a leading lawncare company in the U.S.) and Joe Kucik (Founder of Real Green Systems, one of the lawncare industry’s foremost software providers).
“Since taking a first call in 2021 about the lawncare industry, we were enthused about the prospects for an ExecFactor investment in the space,” says Brian Rassel, a partner with Huron Capital and the firm’s investment lead.
“ExperiGreen was found on a tip that there was ‘a little lawncare company with big time executive leadership in Mishawaka,’ which was absolutely true. John and his team have been industry leaders and pioneers for decades, and we have been very proud to be able to support their organization and continue to be excited about being their partner going forward alongside Wind Point.”
The company’s senior management team, as well as Huron Capital, will retain minority equity stakes in the business, while Rassel will continue to remain active through a seat on ExperiGreen’s board.
Honigman, a large law firm in Detroit, served as legal advisor to Huron Capital and ExperiGreen.
Founded in Detroit in 1999, over the past 25 years Huron Capital has acquired more than 285 companies through seven investment funds, managing over $2 billion in capital on behalf of a global institutional investor base.
Through Huron Capital’s proprietary ExecFactor program, the firm utilizes a proactive, thesis-driven investment process to identify the best potential management teams and investment opportunities in our core sectors.
For more information, visit huroncapital.com or experigreen.com.
