Total LM150 revenue hits 11 digits for the first time

June 18, 2018 -  By
Money. Photo: iStock.com/Terminator3D

Photo: iStock.com/Terminator3D

This issue marks the tenth LM150 list—it debuted in 2009—and the first year the combined revenue of all 150 companies has topped the $10 billion mark. The combined 2017 revenue was up 9 percent ($8.6 million) year over year.

BrightView and TruGreen didn’t report year-over-year growth figures, but the math tells us they grew only 3 percent and 2 percent over last year’s reported revenue, much less than the average company on the list’s reported 11 percent growth rate. LM150 firms are projecting to grow 11 percent on average again in 2018.

While the industry remains fragmented overall with tens—or even hundreds—of thousands of businesses, depending on who you’re counting, it’s worth noting that the top two firms again combine to account for more than a third of the entire list’s revenue. The top five firms on the list—BrightView, TruGreen, Davey Tree, Bartlett Tree and Gothic Landscape—account for nearly half. The No. 6 company on the list, Aspen Grove Landscape Group, is a new one. Learn more about this firm and why it caused four LM150 mainstays to drop off this year’s list below.

The information on the LM150 list is self-reported unless otherwise noted. Some companies don’t break out their service lines, so we can’t be sure what revenue is specific to typical green industry services. Not to mention, there are several firms that opt not to participate in the list, there are others we don’t know about and it’s possible some firms’ revenue overlaps due to subcontracting agreements among companies on the list.

To see this year’s rankings, check out the LM150 listing here. To quickly find the rank of any company, visit the alphabetical index here.

Methodology

LM sought submissions from landscape companies in the magazine, on LandscapeManagement.net, via email and over the phone from January through May. Companies submitted their details through an online form. LM editors compiled the results and, where applicable, removed nontypical green industry revenue sources from totals reported by companies. For example, we omit revenue from pest and janitorial services.

We estimated revenue for firms that didn’t provide data if they participated in last year’s list and reported a projected 2017 revenue figure. We calculated the numbers for client mix, profit centers and regional charts based on the data submitted.

Making moves

Due to several mergers and acquisitions in 2017, some LM150 firms dropped off the list this year. They include:

  • The debut of Aspen Grove Landscape Group, previously known as Five Seasons Property Management, based in Willow Grove, Pa. In April, it announced the 10 companies that make up their portfolio, including the following former members of the LM150 list:
    • Integrated Landscape Management in Arizona (No. 93 on last year’s list);
    • James River Grounds Management in Virginia (No. 72 on last year’s list);
    • Providence Landscape Group in North Carolina (No. 130 on last year’s list); and
    • Reliable Property Services in Minnesota (No. 49 on last year’s list).
  • The acquisition of Swingle Lawn, Tree & Landscape Care (No. 80 on last year’s list) by SavATree in September.
  • TruGreen’s acquisition of Lawn Dawg (No. 125 on last year’s list) in September.
  • Monarch Landscape Holding’s acquisition of Terracare Associates (No. 22 on last year’s list) in October. Monarch, which also owns five additional large landscape firms on the West Coast, declined to participate in this year’s list.
  • Yellowstone Landscape’s acquisition of Ecoscape Solutions Group, based in Huntersville, N.C. Ecoscape was No. 91 on last year’s list. Yellowstone also acquired Heads Up Landscape in late 2017, so the Albuquerque, N.M.-based firm will drop off next year’s list.

In other LM150 M&A news…

  • An affiliate of New York-based private equity firm CI Capital Partners acquired a majority interest in SavATree (No. 16) last summer.
  • Signature Landscapes and its sister company Coast Landscape Management, based in Napa, Calif., merged following an equity investment from Central Valley Fund. Together they are No. 67 this year.
  • BrightView (No. 1) acquired Girard Environmental Services (No. 42), based in Sanford, Fla.
  • TruGreen (No. 2) acquired TurfMasters in Connecticut.
  • Bland Landscaping (No. 94) recapitalized in December and is now a private equity-backed, management-led platform company in the Carolinas.
  • Davey Tree (No. 3) acquired Elizabeth River Lawn & Landscape in Virginia this year.
  • Ruppert Landscape (No. 12) acquired Classic Landscaping in Maryland and Pennsylvania this year.
  • Bartlett Tree Experts (No. 4) acquired Seattle Tree Preservation this year.

Who did we miss?

Should your company be on the LM150 list of the largest landscape companies? Or do you know of one we missed? Contact Editor Marisa Palmieri at mpalmieri@northcoastmedia.net to be notified in early 2019 when the submission period opens. We encourage companies with more than $8 million in revenue to enter.

Featured photo: iStock.com/Terminator3D

This article is tagged with , , , and posted in 0618, Cover story, LM150

About the Author:

Marisa Palmieri is an experienced Green Industry editor who's won numerous awards for her coverage of the landscape and golf course markets from the Turf & Ornamental Communicators Association (TOCA), the Press Club of Cleveland and the American Society of Business Publication Editors (ASBPE). In 2007, ASBPE named her a Young Leader. She graduated with a Bachelor of Science in Journalism, cum laude, from Ohio University’s Scripps School of Journalism.

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