Harris Williams Advises Fairway Lawns on its Sale to Morgan Stanley Capital Partners
May 19 2022 - 12:50PM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces it advised Fairway Lawns, a
portfolio company of Prairie Capital (Prairie) and Rising Point
Capital (RPC), on its sale to an investment fund managed by Morgan
Stanley Capital Partners (MSCP). Fairway Lawns is a market leading
provider of residential lawncare services, including weed control
and fertilization, pest control, and tree and shrub maintenance.
The transaction was led by Brent Spiller, Zach Ledwith and
Christian Brumbaugh of the Harris Williams Consumer Group.
“Fairway Lawns is a leader in lawncare in the Southeast and has
a phenomenal track record of delivering top-quality results for its
customers. Over its 40-year history, Fairway Lawns has expanded its
footprint throughout the Southeast and we are excited to see
Fairway Lawns continue to grow in partnership with MSCP,” said
Brent Spiller, a managing director at Harris Williams.
“We are thrilled to have partnered with Fairway Lawns and both
Prairie and RPC. This transaction marks yet another successful
outcome for our clients in residential services. We are looking
forward to the next chapter for Fairway Lawns,” added Zach Ledwith,
a director at Harris Williams.
Formed in 1979, Fairway Lawns is a market leading provider of
recurring lawncare services such as weed control and fertilization,
in addition to complementary services including pest control and
tree and shrub maintenance. The company currently serves over
70,000 customers from 14 lawn treatment locations and two pest
control locations operating under the brand Command Pest Control.
Fairway Lawns’ locations span across seven states (Alabama,
Arkansas, Florida, Georgia, Oklahoma, South Carolina, and
Tennessee).
Founded in Chicago in 1997, Prairie is a private equity fund
with a long and successful track record of scaling growth-oriented,
lower-middle market companies in partnership with talented founders
and management teams. Since inception, Prairie has invested over $1
billion in more than 100 platform companies. Prairie makes control
equity investments in founder-owned companies with $4 million to
$12 million in EBITDA that participate in growing subsectors within
business services, consumer, education, healthcare, industrial, and
technology.
RPC is an investment firm headquartered in Chicago. RPC provides
partnership and capital to transform and grow businesses, investing
primarily in founder-owned business and consumer services companies
in the lower-middle market. The principals of RPC, Michael Drai and
Justin Marku, have worked together since 2011. RPC has led six
investment platforms since its founding in 2019.
MSCP, part of Morgan Stanley Investment Management, is a leading
middle market private equity platform that has invested capital in
a broad spectrum of industries for over three decades. MSCP focuses
on privately negotiated equity and equity-related investments
primarily in North America and seeks to create value in portfolio
companies primarily in a series of subsectors in the business
services, consumer, healthcare, education, and industrials markets
with an emphasis on driving significant organic and acquisition
growth through an operationally focused approach.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams Consumer Group has completed transactions
across a variety of verticals, including food, beverage and
agribusiness; branded consumer products; consumer services; and
restaurant and retail. For more information on the Harris Williams
Consumer Group and recent transactions, visit the Consumer Group’s
section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
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For media inquiries, please contact Julia Moore at
media@harriswilliams.com.
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