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Lawn Doctor Acquired by Private Equity Firm Levine Leichtman

Consolidation continues in the lawn and landscape industry with Levine Leichtman Capital Partners purchase of Lawn Doctor Inc., a leading franchisor of lawn care services, which operates through a nationwide network of over 460 independently-owned franchise locations in 38 states.  Levine Leichtman, a Los Angeles-based private equity firm, invested $17.5 million in the acquisition of Lawn Doctor and secured an undisclosed amount of debt financing from Fifth Third Bank.

“Lawn Doctor is an iconic brand with a long history of growth and innovation. It offers a differentiated and personalized approach to lawn care and leads the industry in customer satisfaction and retention,” Levine Leichtman CEO Lauren Leichtman said.

In connection with the acquisition, Lawn Doctor’s founders, CEO Russell Frith and Senior Vice President Bob Magda, will assume advisory roles while Frith’s son Scott Frith will take the reins of the Holmdel, N.J.-based lawn care business. Russell Frith and Bob Magda will each make significant investments in the company and will remain engaged with LD through their new roles as senior advisors.

This acquisition marks the first investment by Levin Leichtman Capital Partners SBIC Fund, LP, a $225 million private equity fund. SBIC funds take advantage of low cost borrowing under the US Small Business Administration program.

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