TruArc Partners Acquires Schill Grounds Management, Commercial Landscaping Provider Serving the Midwest and Mid-Atlantic

NEW YORK--(BUSINESS WIRE)--TruArc Partners (“TruArc”), a private equity firm focused on middle-market investments in business services and specialty manufacturing, announced today that it has acquired Schill Grounds Management (“Schill” or the “Company”) from Argonne Capital Group. Terms of the transaction were not disclosed.

Founded in 1993 and based in Cleveland, Ohio, Schill has grown into one of the largest commercial landscaping providers in the upper Midwest and Mid-Atlantic regions, serving a diversified base of property managers, homeowners associations, and commercial clients. Schill has built a strong reputation for its customer service and comprehensive suite of landscape maintenance, enhancement and hardscaping offerings across Ohio, Kentucky, Pennsylvania, Illinois, Indiana, Michigan, and Ontario, Canada.

TruArc Partners has significant prior experience in the commercial services space and will work with Schill’s leadership team to accelerate the Company’s organic growth, pursue add-on acquisitions and expand its customer footprint beyond the Midwest. Founder, Jerry Schill, will continue in his role as CEO of the Company.

“TruArc’s experience supporting essential services businesses, together with their collaborative approach, aligns well with our culture and objectives and make them an ideal partner for Schill as we embark on this next phase of our evolution,” said Jerry Schill. “I am thrilled to be partnering with them and look forward to taking advantage of the growth opportunities we see across our business.”

“Schill has built a trusted and respected brand with commercial clients across the Midwest and Mid-Atlantic,” said Brandon Kiss, Partner at TruArc Partners. “We are excited to partner with the Schill team to support the Company’s next phase of growth as it seeks to expand its footprint and service capabilities.”

William Blair & Company and Citizens Capital Markets & Advisory served as financial advisors to TruArc Partners. Solomon Partners served as financial advisor to Schill. Weil Gotshal & Manges LLP acted as legal counsel to TruArc Partners.

About Schill Grounds Management
Schill Grounds Management is a provider of year-round landscaping services for multi-family, retail, office, mixed-use, distribution centers, healthcare and industrial properties of all sizes located in the Upper Midwest, Great Lakes, and Mid-Atlantic regions. The Cleveland, Ohio-based company was founded in 1993 by Jerry Schill, who serves as the Company’s President and CEO. Over the last three decades, Schill has grown to over 30 branches and services thousands of properties across Ohio, Kentucky, Pennsylvania, Illinois, Indiana, Michigan and Ontario, Canada. To learn more, visit www.schilllandscaping.com.

About TruArc Partners
TruArc Partners is a private equity firm focused on middle-market investments. TruArc focuses on companies in attractive sub-sectors across specialty manufacturing and business services. The TruArc investment team collaborates with its operating partners and portfolio management teams to create value through a transformational growth strategy led by organic or acquisition-driven growth. To learn more about TruArc visit www.truarcpartners.com.

About Argonne Capital Group
Argonne Capital Group is a closely held private investment firm focused on equity investments in high-quality middle-market businesses with scalable growth models. Founded in 2003, Argonne structures investments independently, enabling flexibility across industries, transaction types, capital structures, and investment horizons. To date, Argonne has invested over $2 billion of equity capital. For more information, visit www.argonnecapital.com.

Disclosures
Disclosure: All endorsements and/or testimonials are from current or former portfolio company executives about TruArc’s ability to provide operational support to their companies. In certain cases, the executives are investors or co-investors in TruArc’s vehicles. The executives have not been paid, directly or indirectly, for their testimonial or endorsement but as an investor or co-investor they are inherently incentivized to endorse TruArc.