RIDGE TRAIL CAPITAL | OPPORTUNITY OVERVIEW
Project Greenfield
Project Greenfield | Midwest Property Care, Landscape Improvements and Seasonal Services
Landscape Improvements and Seasonal Services
Investment Thesis
Project Greenfield represents an established property care and landscape services business serving residential and commercial customers in the Midwest. With more than 40 years of operating history, a broad service portfolio, and strong local brand recognition, the Company offers a buyer access to a recurring property-care platform with additional project-based and seasonal revenue opportunities.
Business Overview
The Company is a full-service landscape management business serving an established Midwest market. Its service offering spans landscape design and installation, ongoing maintenance, lawn and plant care, irrigation, snow and ice management, and seasonal decor.
Management estimates that residential customers represent approximately 65% of revenue and commercial customers represent approximately 35%, varying from year to year. This mix provides exposure to both recurring residential and commercial maintenance demand, along with higher-value improvement and seasonal service opportunities.
Financial Snapshot
$1.2M
FY2024 Adjusted EBITDA
$1.2M
FY2025 Adjusted EBITDA
$2.4M
YTD June 2026 Revenue
$0.1M
YTD June 2026 Adjusted EBITDA
Revenue increased from $5.2 million in FY2023 to $6.1 million in FY2025, representing an 8.7% CAGR and demonstrating consistent organic expansion across the service portfolio. Adjusted EBITDA has remained near approximately $1.2 million in recent full-year periods, with margins around 20%.
Investment Highlights
- Established Regional Presence: More than 40 years of operating history, longstanding customer relationships, and strong local brand recognition support the Company’s competitive position.
- Broad Service Capabilities: Maintenance-oriented, project-based, and seasonal services address multiple outdoor property needs through one provider.
- Dedicated Operating Leadership: Functional leadership across general management, finance, sales, and production oversees day-to-day operations following the founders’ transition to ownership-level roles.
- Hardscape and Outdoor-Living Capabilities: Established capabilities include patios, retaining walls, outdoor kitchens, and fire features, aligning with management’s identified project-growth focus.
- Strong Customer Reputation: Favorable reviews, referrals, and longstanding relationships support retention and new-business generation.
Growth Opportunities
- Strengthen Sales Execution: Add sales capacity and consistent processes to improve responsiveness to inbound opportunities, follow-up discipline, and proposal conversion.
- Deepen Existing-Market Penetration: Increase residential and commercial customer coverage within the existing service territory and build on the Company’s established regional presence.
- Expand Hardscapes and Outdoor Living: Increase focus on patios, retaining walls, outdoor kitchens, fire features, and related landscape-improvement opportunities.
- Evaluate Selective Regional Expansion: Assess additional markets and branch locations across the broader region to reach new customers and extend geographic coverage.
Industry Context
The U.S. landscaping-services market is projected to grow from approximately $153 billion in 2021 to nearly $195 billion by 2031, reflecting stable and resilient long-term demand. Residential and commercial maintenance represent the majority of industry revenue, supported by recurring property-care requirements and long-term customer relationships. The industry also remains highly fragmented across more than 500,000 businesses.
Transaction Considerations
The source teaser does not specify a formal transaction structure. Based on the materials provided, Project Greenfield appears positioned as a business offering for a buyer or growth-oriented acquirer seeking an established landscape management platform with recurring maintenance demand, a recognized regional presence, and identifiable opportunities to expand sales execution, service mix, and geographic reach.
Ideal Buyer / Capital Profile
Best-fit buyers may include strategic acquirers in landscaping, property services, facilities services, residential services, outdoor living, or regional maintenance platforms, as well as financial sponsors seeking a fragmented-market platform with a long operating history, recurring service demand, and additional growth levers.
Additional Information
Matt Uhl | Matt.uhl@ridgetrailcap.com | 616-648-8032
