M&A activity snapshot
Landscaping is one of the most PE-driven corners of home and facility services. Hyde Park Capital counted 108 U.S. and Canada landscaping transactions through September 2025, versus 138 in the same period of 2024, and 78 of the 108 involved private equity. KPMG reports that private equity firms accounted for 76% of total landscaping transaction volume in 2025 as of August 31.
The market remains fragmented. Hyde Park describes it as highly fragmented, with regional and local operators dominating, which creates a substantial runway for consolidation. Platforms built in the last decade now change hands between sponsors: CI Capital-backed SavATree agreed to be acquired by funds advised by Apax in 2021.
Who is buying
Commercial landscaping platforms dominate. An Ares Private Equity fund acquired a majority stake in Landscape Workshop, a commercial grounds maintenance provider with 38 Southeast locations, in May 2025. Comvest recapitalized Bland Landscaping in the Carolinas, which had completed seven acquisitions since 2019, and Bregal Partners and L Capital invested in Juniper Landscaping in 2022.
Tree and lawn care platforms follow a residential-plus-commercial model. SavATree tripled its revenue under CI Capital, growing from 28 to 58 branches through organic growth and 27 add-on acquisitions, before Apax-advised funds agreed to buy it in 2021.
Strategic acquirers are active too. Hyde Park notes strategics pursuing deals to expand market share, grow and retain labor, and diversify customer bases.
What buyers look for
Recurring contracts are the core of the thesis. KPMG says PE interest is driven by recurring revenue models derived from contractual and subscription-based offerings. Commercial work is preferred: commercial landscaping accounted for about 50% of 2024 U.S. industry revenue, and companies with commercial customer bases were particularly sought after in 2024.
Route density is the operating lever. Hyde Park describes the playbook as branch expansion around existing operations to increase route density and improve labor efficiency.
Labor is the main risk. Hyde Park notes the industry is highly reliant on seasonal and immigrant labor pools. The H-2B program has a statutory annual cap of 66,000, and DHS released 64,716 supplemental visas for FY2026, the maximum allowed. NALP says landscaping accounts for nearly half of all H-2B guest workers. Buyers ask how many crew members depend on visas that must be won again every season.
What makes a strong company
Landscaping businesses that attract platform interest usually show:
- Multi-year commercial maintenance contracts, tracked by renewal rate.
- Enhancement revenue (seasonal color, irrigation upgrades, tree work) sold to existing contract customers rather than one-off installs.
- Dense routes around a branch, so crews spend more time working than driving.
- A stable crew, with a plan if H-2B visas fall short.
- Snow removal or other off-season revenue in northern markets.
- Clean pesticide applicator licensing for any lawn care or weed control work.
- In California, a fleet plan for the state's zero-emission equipment rules.
Valuation and deal structure
No public source publishes private-deal multiples for landscaping. The available reference points are indirect. Hyde Park's comp set of public landscaping companies averaged 7.9x EV/EBITDA in January 2025. Those are public companies, not small private businesses. For small private deals across all industries, GF Data reported averages of 5.5x EBITDA for $1M-$5M transactions and 5.6x for $5M-$10M in H1 2025.
No public dataset tracks earnout or rollover rates in landscaping deals.
Outlook
Expect PE-led add-on activity to continue at a somewhat lower volume than 2024. KPMG points to an aging population and a growing preference for "do it for me" services as long-term support for demand. Labor and regulation are the swing factors: H-2B availability depends on DHS releasing supplemental visas each year, and in California, CARB requires most newly manufactured small off-road engines to be zero-emission from 2024 under AB 1346. Operators with commercial contracts, dense routes and a stable workforce are best placed.
Own a landscaping or lawn care company? Run the valuation tool or read what buyers look for in detail. Part of Home Services M&A. See also: off-market deal sourcing channels.