Landscape Development Inc. just became one of the largest maintenance contractors in Southern California.
Its maintenance division, Enhanced Landscape Management, completed the asset purchase of Chateau Landscape Inc. on Tuesday, according to a statement released by CEO Gary Horton.
LDI’s annualized maintenance revenue now exceeds $25 million per year.
When the discussion on the continued growth of ELM’s maintenance operations became the company’s priority, ELM continued looking for acquisition opportunities.
“We are excited to bring CLI to our family,” Horton said in the statement.
All 45 of CLI’s employees, including field and management personnel, will be continue working through ELM. They were hired Tuesday, met with ELM’s Human Resources representatives, and given a detailed orientation of the company’s benefits, culture, opportunities and emphasis on safety. ELM’s maintenance teams is now made up of 300 professionals.
“This deal was months in the making and it couldn’t happen without the efforts of so many of our team,” reads the statement. “We thank all those that made this possible. Without our great team, making and executing these deals would not be possible. We have earned the reputation of being a best-in-class company that offers great careers while being a great place to work.”
CLI’s owner and founder, Matthew Fredeking, will also join ELM as a senior account manager, playing a key role in business development activities. Following the purchase, CLI underwent an immediate rebranding for the sake of consistency
“We are continuing to build a best in class, multi-disciplined company,” Horton wrote. “LDI is on the move and you all play a part in our success. Thank you for helping us grow and succeed!”
The above information was obtained by The Signal via a press release from Landscape Development Inc.
Gary Horton writes a weekly column for The Signal’s opinion page.