Graycliff Partners Invests in Richardson Saw & Lawnmower

NEW YORK--(BUSINESS WIRE)--Graycliff Partners, through its GCP Ascend small-cap fund, is pleased to announce its investment in Richardson Saw & Lawnmower (“Richardson”), a provider of outdoor power equipment, parts and services for the commercial landscaping industry.

Based in Dallas, TX and founded in 1968, Richardson offers a full range of outdoor power equipment, including zero-turn, stand-on and walk-behind mowers and handheld equipment such as chainsaws, blowers and trimmers. The Company also provides replacements parts, consumables and repair & maintenance services. Richardson primarily serves professional landscaping customers and maintains longstanding relationships with several leading original equipment manufacturers, including Toro, Stihl, Scag, Honda, eXmark and Echo.

James Poen, second generation family owner who will continue in his role as President of Richardson, said, “I am excited to partner with the Graycliff team, who fit our Company culture from the outset and has the knowledge and experience that will be integral to taking Richardson to the next level.”

Taylor Catarozoli, Managing Director at GCP Ascend, added, “James has consistently invested in both the operations and employees to build Richardson into a name brand in the outdoor power equipment market. We are thrilled to partner with James and the team at Richardson to build upon the Company’s foundation as a leading provider and servicer of outdoor power equipment in the greater Dallas area.”

Richardson is the first platform investment for GCP Ascend, which seeks to partner with founder and family-owned businesses with below $4 million of EBITDA in the manufacturing, industrial services, and value-added distribution sectors.

About Graycliff Partners LP
Graycliff Partners is an investment firm focused on making lower middle market investments, typically in manufacturing, business services and value-added distribution businesses. Through dedicated equity and credit funds, Graycliff provides capital for acquisitions, management buyouts, recapitalizations, growth and expansion. For more information about Graycliff Partners visit www.graycliffpartners.com.