By order of the U.S. Bankruptcy Court for the District of Delaware, SC&H Capital, an investment bank specializing in M&A advisory, was retained as the exclusive investment banker for Moon Group to explore strategic options, including a sale of the company.
Moon Group is a holding company in Chesapeake City, MD, with a customer base that consists of large municipalities, hospitals, universities and cemetery operators. Moon Group has three complementary operating subsidiaries:
- A nearly 900-acre plant nursery that grows a variety of trees, shrubs and perennial plants
- A suite of landscaping and hardscaping services offering conceptual design support, construction and installation
- Grounds management services, including turf management, landscape maintenance, mature tree care, irrigation systems, night scaping and snow removal
In late 2019, Moon Group agreed to substantially expand the services offered to a cemetery operator by slowly absorbing its existing site maintenance operations and corresponding employees. By December 2019, Moon Group’s revenue had grown by 180% year over year. Due to working capital challenges, the company filed for Chapter 11 to secure adequate working capital or to sell the business to an operator with the financial backing to allow the company to continue to capitalize on its opportunities for growth. An accelerated process is underway.
“The Moon management team has built an extremely experienced and loyal work force and deep relationships with their customer base,” Hank Waida, principal at SC&H Capital, said. “The company is positioned for continued success once properly funded.”