Caltius Equity Partners (CEP) made a significant investment in APHIX, a founder-owned provider of commercial landscape services in Kentucky and Tennessee. The transaction marks the first time APHIX has partnered with an institutional investor, a significant milestone for the company.
Founded in 2004, APHIX has evolved from a small, single-location operation focused on residential customers into a provider of commercial landscaping services in Louisville, KY, Lexington, KY and Chattanooga, TN. It is a trusted outsourced partner for its customers, providing landscaping maintenance, enhancements and winter services. APHIX’s customer-centric operating model and strong employee culture drive superior service levels for its commercial and industrial customers.
“With the strong alignment between our cultures, we are thrilled to have CEP as our financial partner,” Allen Sweeney, president and founder of APHIX, said. “Their deep knowledge of the facility services industry and experience helping entrepreneurs grow their businesses is an ideal combination as we move to the next phase of growth at APHIX.”
“APHIX is a terrific fit for our investment thesis of targeting investments in recurring revenue services businesses to build a leading company in the fragmented landscaping services industry,” Justin Benshoof, managing director of CEP, said. “We will be actively evaluating add-on acquisitions of companies with strong maintenance revenues and $0 to $12 million of EBITDA.”
“We are confident that our capital and industry experience will help Allen and the rest of the management team achieve their growth goals, organically and through acquisitions,” Jeffrey Holdsberg, managing director of CEP, said.
“We are excited about this opportunity to be part of APHIX’s continued success,” Michael Morgan, managing director of CEP, said.