Ernst & Young awards Jesson regional entrepreneur award

Abstract

As supply chain woes continue to mount and inflation surges to record levels, companies across the green industry are facing a new set of challenges in providing their customers with often critical services like landscaping, tree care, lawn care, irrigation, snow removal and landscape supply. The company's growth is fueled by green industry businesses offering landscaping, tree care, lawn care and landscape supply services seeking to improve productivity by automating key processes. "Given the breadth and depth of the platform's capabilities alongside the company's industry-leading service, SingleOps empowers customers to operate and grow more successfully, at a time when all businesses are feeling increased pressure on their margins. As adoption of business management software accelerates, we look forward to leveraging our extensive experience in B2B software and payments to help SingleOps seize a tremendous market opportunity and continue its exciting growth trajectory as it brings new innovative solutions to the green industry." Anderson and Gurmaan Bhatia, vice president at FTV Capital, will join SingleOps' board of directors as part of the investment. The company recently appointed Heather Dirksen, former president of Arbor Masters, one of the largest green industry businesses in the country, as its new Vice President of Operations. "We'll combine the best of the companies' manufacturing and delivery models, extend those capabilities to complementary equipment categories, and finance organic expansion and acquisition," says Ronin Partner Tiffany Bell, who joins DK2 as CFO. Although the purchase price is undisclosed, on a merged basis the group registers annual revenues in excess of $60 million and shows average annual sales growth over the past five years of 40-plus percent. The acquisition of the three companies was financed using Ronin's balance sheet, with investments from a range of limited partners, including Stephens Capital Partners, Northwood Ventures and Knott Partners. Katten Muchin Rosenman LLP and McCarthy Tetrault LLP acted as Ronin's legal advisors on its latest platform investment; buyside M&A advisors were Harvey & Company and Robert W. Baird.