M&A Deal Summary

Morgan Stanley Capital Partners Acquires Fairway Lawns

On May 18, 2022, private equity firm Morgan Stanley Capital Partners acquired consumer services company Fairway Lawns from Prairie Capital and Rising Point Capital

Acquisition Highlights
  • This is Morgan Stanley Capital Partners’ 4th transaction in the Consumer Services sector.
  • This is Morgan Stanley Capital Partners’ 40th transaction in the United States.
  • This is Morgan Stanley Capital Partners’ 2nd transaction in Arizona.

M&A Deal Summary

Date 2022-05-18
Target Fairway Lawns
Sector Consumer Services
Buyer(s) Morgan Stanley Capital Partners
Sellers(s) Prairie Capital
Rising Point Capital
Deal Type Secondary Buyout
Advisor(s) Harris Williams (Financial)

Target

Fairway Lawns

Little Rock, Arizona, United States
Fairway Lawns is a provider of residential lawn treatment and pest control services. The Company currently serves over 40,000 customers from 12 lawn treatment locations and 2 pest control locations across six states (AL, AR, GA, OK, SC, TN). Fairway Lawns was formed in 1979 and is based in Little Rock, Arizona.

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Buyer(S) 1

DESCRIPTION

Morgan Stanley Capital Partners (MSCP) is the private investment arm of financial services firm and investment bank Morgan Stanley. MSCP looks to partner with founders looking to leverage Morgan Stanley's resources, as well as fund corporate carveouts, recapitalizations, buyouts, and industry consolidations. Areas of interest include business services, industrials, education, consumer products/services, food/beverage, retail, healthcare, and packaging. MSCP primarily targets businesses operating in North America valued between $75 and $750 million. Morgan Stanley Capital Partners is based in New York City.


DEAL STATS #
Overall 43 of 50
Sector (Consumer Services) 4 of 4
Type (Secondary Buyout) 14 of 19
State (Arizona) 2 of 2
Country (United States) 40 of 47
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-02 SpendMend

Grand Rapids, Michigan, United States

SpendMend helps healthcare organizations nationwide discover the full impact of financial leakage upon their organization. As the healthcare expert in audit recovery and spend visibility, SpendMend has perfected the process of holistically analyzing complex spend data to help an organization shed light upon ubiquitous financial leakage. SpendMend helps recover financial leakage and partners with clients to optimize cost cycle management and improve spend visibility. SpendMend was founded in 1993 and is based in Grand Rapids, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-17 Sterling Energy

Denver, Colorado, United States

Sterling Energy is a natural gas gathering, processing and marketing company serving oil and gas producers in the Denver-Julesburg Basin of northeast Colorado and the Williston Basin of northwest North Dakota. Sterling Energy was founded in 2000 and is based in Denver, Colorado.

Sell -

Seller(S) 2

SELLER

Prairie Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 525M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prairie Capital is a private investment firm that provides equity and/or mezzanine capital to support buyouts and recapitalization of lower middle-market companies generating sales of $20 - $100 million with an EBITDA of $4 - $12 million. Areas of interest include niche manufacturers, business services, consumer products, marketing services, specialty chemical, and food businesses. The firm invests in the range of $25 - $45 million per transaction. Prairie Capital was formed in 1997 and is based in Chicago, Illinois.


DEAL STATS #
Overall 50 of 55
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 23 of 26
State (Arizona) 1 of 1
Country (United States) 49 of 54
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-19 BOTE

Miramar Beach, Florida, United States

BOTE is a watersports brand driven by a singular mission to stand apart through industry-shaping innovation, fresh ideas and simplicity to create a product that defines a lifestyle. BOTE boards and accessories are sold through independent specialty outdoor retailers and select national retail chains. BOTE was founded in 2008 and is based in Miramar Beach, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-01 Royal Distributing

Guelph, Ontario, Canada

Royal Distributing is a omnichannel specialty retailer serving the enthusiast powersports market for snowmobile, ATV, UTV, dirt bike, motorcycle, and watersports aftermarket products. Royal Distributing was founded in 1990 and is based in Guelph, Ontario.

Buy -
DESCRIPTION

Rising Point Capital is a private investment firm focused on acquiring service based companies throughout the US. Specific service areas of interest include industrial, energy, logistics, infrastructure, home, waste, distribution, and facility maintenance. The Firm will consider majority or minority positions in profitable businesses with at least $10 million in revenue and $2 million of EBITDA. Rising Point Capital is based in Chicago, Illinois.


DEAL STATS #
Overall 1 of 1
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Arizona) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-24 PirTano

Addison, Illinois, United States

PirTano is a multi-dimensional construction company that provides underground utilities, roads, and site development as a full-service prime contractor for residential home builders, commercial developers, municipalities, departments of transportation, and tollway authorities. PirTano was founded in 1982 and is based in Addison, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-08 Cinterra

Hope Mills, North Carolina, United States

Cinterra is a provider of specialized electrical utility and solar construction services to support to some of the nations leading contractors, private industry and public utilities. Cinterra was founded in 2005 and is based in Hope Mills, North Carolina.

Buy -