Recently Tom Fochtman, Ceibass CEO, attended Lawn & Landscape Magazine’s Business Builders Summit in Nashville. The inaugural event featured education and networking for landscapers who wanted to aggressively grow their companies.
“The consensus was that for a first-time event, it was a smashing success. So successful that L&L rebooked the hotel for next year’s event,” said Tom. “There were many PE firms in attendance. We’ve never had any kind of landscape event where there were so many actual buyers in attendance. Very unusual. One of the speakers commented that he’d never seen so many suites at a landscape conference before, ever. Pretty funny, but a very true statement.”
So what were some insights and takeaways from The Summit?
- The quality of the speakers was excellent … most were panel discussions with industry leaders. Lots of practical advice to implement.
- There were many potential buyers at the event, both PE backed landscape platforms and PE firms looking to invest.
- A common theme amongst potential buyers was how hard it is to actually ‘win’ a deal. There is intense competition for good solid companies.
- It’s a good time to be a seller because quite a few of the good companies have sold. There are fewer good companies to buy and it has caused EBITDA multiples to increase.
- Interest rates have hurt deal flow, but the lack of quality acquisitions has off-set rates. Still a lot of activity.
“Given the level of interest at the summit you would have to conclude that It’s still a good time to be a seller,” added Tom. “And get this event on your calendar for next year.”
If you’re thinking about selling your lawn and landscape business, remember, no one is better connected in the industry than Ceibass.
