Over the years, LandCare has experienced a number of changes in ownership and leadership, and this summer marked the next big change for the company.
Back in July, Aurora Resurgence, a private equity firm, sold LandCare to the company’s management team and a small group of investors, led by Scott Brickman, former CEO of the Brickman Group.
Prior to Aurora, LandCare was owned by ServiceMaster and was known as TruGreen LandCare. ServiceMaster sold the business to the private equity firm in 2011 when the company’s revenue began to decline.
Aurora hired Mike Bogan, who spent 23 years with the Brickman Group before starting his own consulting business as a consultant, and he eventually became the CEO of LandCare in 2014. Bogan helped turn the company around and create stability.
“From day one back in 2014, I wanted to create constancy of purpose for our team members,” Bogan says. “From experience, I knew private equity could be great partners in building the company, but the day would come when it would be time for them to sell, and I was uncomfortable that our culture and values could be changed by new owners.”
As Aurora drew closer to its exit, Bogan says they discussed the need to create ownership-permanence with the transaction and was able to reach an agreement that secured the future of LandCare by putting control of the company in the hands of its management team.
Bogan also reached out to Scott Brickman to become an investor and an advisor. Bogan says Brickman shares many of the same beliefs around culture and the importance of building a company guided by a set of strong core values. He says Brickman is excited to get back into the industry he loves.
“Scott will serve as chairman of the board and offer support and guidance as we start the next chapter at LandCare,” Bogan says. “He has the passion and energy to contribute wherever he can, and his focus will be as a board member and strategic advisor to LandCare. He has deep confidence in the team he is backing and isn’t looking to get back into day to day operations. Our existing management team will continue to lead the business, but we are thrilled to have the industry’s most accomplished leader and owner as a partner.”
Bogan says this new change in ownership isn’t a response to the launch of Sperber Landscapes that happened in April this year.
“We were not influenced by any outside factors; we knew back in 2014 that this was the direction we wanted to take and have worked toward that goal ever since,” Bogan says. “We’re not interested in the rollup strategies of other companies in the industry, and we’ll continue to focus on our own healthy growth with the conviction that focusing on culture and values will attract the best team members and build a great company. I am excited to see Richard Sperber back in the industry and know he and his team will do great things while we are creating our own unique path at LandCare.”
As for where LandCare will be in the next five to 10 years, Bogan says the company will focus on healthy growth, with its people being its priority. He says LandCare will continue to grow organically and also acquire landscaping companies that share the same values and culture.
“Our team members know that when they wake up every morning, our values will remain unchanged, our trucks will still be tangerine, and our people can find a career of growth and fulfillment at LandCare,” he says.
Bogan says LandCare’s staff is excited about taking control of the company and what it means for the business’s future and their personal opportunities.
“We now fully control our own future, and as a result, we sit in a much different position than most of the other large landscaping companies,” Bogan says. “Our leaders own and manage LandCare. Our business decisions are long-term oriented and are made with our customers and team members in mind. The value created will be shared by the managers that drive our growth. I’m not aware of another company that is sharing its success so broadly and so impactfully, with so much more to offer in the years ahead. We all feel that we are doing something different and special. It’s an exciting time to be part of LandCare!”