GTCR, a leading private equity firm, announced today that it has made a strategic investment in Senske Services (“Senske” or the “Company”).
Founded in 1947 and based in Kennewick, WA, Senske Services is a leading regional provider of recurring subscription-based residential lawn care, pest control, and other home services. The Company serves over 80,000 residential and commercial customers across 16 branches in Washington, Utah, Idaho, and Colorado.
In executing the Leaders Strategy™ GTCR is partnering with Casey Taylor and Nathan Hurst, former CEOs of the Americas region for route-based commercial water filtration business Waterlogic, to invest in Senske. At Waterlogic, Messrs. Taylor and Hurst built a consolidation platform, completing over 60 acquisitions in the last five years while building a fully-integrated national brand. Messrs. Taylor and Hurst are joining Senske as Co-CEOs and succeed owner Chris Senske who has led the Company since 1974. Mr. Senske will remain a substantial shareholder of the Company and remain on the board of directors.
Senske Services will serve as the platform for a broader national expansion in the residential lawn care and pest control industries. As part of the transaction, GTCR has committed significant capital to fund acquisitions and organic growth opportunities.
“Chris and the Senske team have built a tremendous business that is well-positioned to serve as the platform for further investment in a growing sector,” said GTCR Principal, Tom Ehrhart. “The entire Senske organization should be proud of the business they have built. We look forward to Casey and Nate working with the Company and its employees to continue providing exceptional customer service while expanding into new geographies and service offerings nationally.”
“We are excited to partner with GTCR and look forward to continuing to provide Senske’s customers with exceptional service,” said Messrs. Taylor and Hurst. “GTCR brings significant resources and experience in building companies and together we expect to grow Senske into a leading national lawn care and pest control company.”
David Donnini, Managing Director and Head of Business & Consumer Services at GTCR, added: “Through their exceptional customer service and commitment to integrity, Senske has grown to become one of the leading lawn care and pest control companies in the U.S. We are thrilled to be partnering with Casey and Nate, as well as Senske, at this exciting time in the Company’s evolution.”
Solomon Partners served as financial advisor and Kirkland & Ellis served as legal advisor to GTCR. LR Tullius served as exclusive financial advisor to Senske Services and Gravis Law served as legal advisor to Senske.
About GTCR
Founded in 1980, GTCR is a leading private equity firm that pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through organic growth and strategic acquisitions. GTCR is focused on investing in transformative growth in companies in the Business & Consumer Services, Financial Services & Technology, Healthcare and Technology, Media & Telecommunications sectors. Since its inception, GTCR has invested more than $24 billion in over 270 companies, and the firm currently manages over $26 billion in equity capital. GTCR is based in Chicago with offices in New York and West Palm Beach. For more information, please visit www.gtcr.com. Follow us on LinkedIn.
About Senske Services
Founded in 1947, Senske Services is a market-leading, multi-state home services company focused on growing organically and through mergers and acquisitions in the Western United States. The Senske family of brands includes Senske Pest Control, Senske Lawn and Tree Care, Senske Grounds Maintenance, Fit Turf, and Christmas Décor by Senske. Senske is actively exploring expansion opportunities; for companies interested in selling their lawn care or pest control business, contact Jordan Cano at 214.497.7245 or visit www.senske.com.
