TruArc Partners, a middle-market private equity firm focused on business services and specialty manufacturing, has acquired Schill Grounds Management from Argonne Capital Group. Financial terms were not disclosed.
Founded in 1993 and headquartered in Cleveland, Ohio, Schill provides year-round commercial landscaping services for multi-family, retail, office, mixed-use, distribution, healthcare and industrial properties. The company serves property managers, homeowners associations and commercial clients across the upper Midwest, Great Lakes and Mid-Atlantic, with operations spanning Ohio, Kentucky, Pennsylvania, Illinois, Indiana, Michigan and Ontario, Canada.
TruArc said it will partner with Schill’s leadership team to accelerate organic growth, pursue add-on acquisitions and expand the company’s customer footprint beyond the Midwest. Founder Jerry Schill will continue as CEO.
Schill has grown to more than 30 branches over the past three decades and offers landscape maintenance, enhancement and hardscaping services, positioning the business as a scaled provider in a fragmented sector with recurring, essential-service demand.
Support: William Blair & Company and Citizens Capital Markets & Advisory served as financial advisors to TruArc. Solomon Partners advised Schill. Weil Gotshal & Manges acted as legal counsel to TruArc.
KEY QUOTES:
“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. I am thrilled to be partnering with them and look forward to taking advantage of the growth opportunities we see across our business.”
Jerry Schill, Founder, President and CEO, Schill Grounds Management
“Schill has built a trusted and respected brand with commercial clients across the Midwest and Mid-Atlantic. 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.”
Brandon Kiss, Partner, TruArc Partners
