Funding funds managed by Morgan Stanley Capital Companions, the middle-market targeted personal fairness crew at Morgan Stanley Funding Administration, have accomplished an funding in Fairway Lawns.
MSCP is partnering with the present administration crew led by CEO Kyle DeMilt, who will proceed to steer the enterprise.
Headquartered in Little Rock, Arkansas, Fairway is a residential garden care firm. The corporate, which operates 16 branches throughout the Southeast area, primarily gives recurring garden care providers similar to weed management and fertilization, along with complementary providers together with pest management and tree/shrub upkeep.
“For almost 40 years, Fairway has persistently delivered finest in school residential garden care providers to our prospects, and we’re thrilled to associate with MSCP on the following section in our historical past,” mentioned Kyle DeMilt, CEO of Fairway. “We glance to leverage MSCP’s method to operational excellence, in addition to their expertise finishing complementary acquisitions to speed up the growth of Fairway’s capabilities and geographic footprint within the coming years.”
“We’re excited to associate with Kyle and the Fairway crew as they proceed to work to construct the corporate into the main residential lawncare platform within the Southeast,” mentioned Adam Shaw, managing director and head of enterprise providers at MSCP. “For MSCP, Fairway represents a possibility to execute on our core technique of investing in focus sub-sectors the place now we have deep institutional data and expertise to drive worth creation. We sit up for working collectively to advance the corporate’s market management place via natural development and acquisitions.”
Debevoise & Plimpton served as authorized counsel to MSCP, and Solomon Companions served as MSCP’s monetary advisor. Carlyle International Credit score acted as sole administrative agent, bookrunner and arranger on the financing. Harris Williams served as monetary advisor to Fairway.