HeartLand sold to PPC

Kansas-City based HeartLand has been sold to Pritzker Private Capital ("PPC").

Founded in 2016, HeartLand, previously owned by Sterling Investment Partners, is a commercial landscaping company with more than 4,000 employees and more than 60 branches servicing 26 states. HeartLand operates through 18 local operating companies.

HeartLand's leadership team includes Founder and Chief Executive Officer Edward Schatz Jr, Chief Operations Officer Bill Dellecker, Chief Financial Officer Peter Welch and Chief Development Officer Rob McDonnell.

Heartland ranked 6^th on Lawn & Landscape’s 2023 Top 100 list with $434 million in revenue.

"In partnership with Sterling, we've built a scalable national landscape services platform, establishing ourselves as an acquirer of choice in the industry while continuing to be a trusted service provider for our customers,“ Schatz says. "Our shared vision and strategic early investments in people, processes and systems have fueled our exponential growth and I'm very proud of what we've accomplished in just over 4 years together. Sterling has been an ideal partner and we're incredibly appreciative of their mentorship and support on this journey and are excited to continue the next phase of our growth with PPC."

Charles Santoro, managing partner and co-founder of Sterling, says, "Sterling is extremely proud of our partnership with HeartLand and for management's steadfast devotion to providing quality service to their customers as well as to the safety, training, development and overall well-being of their employees. We have built a dynamically growing and industry-leading platform through a combination of successful organic and M&A initiatives. HeartLand is extremely well positioned for ongoing success in their new partnership with PPC, an organization with a very strong reputation, track record and history of building great businesses."

James Soldano, partner of Sterling, adds, "We are truly grateful for the partnership with HeartLand over the past few years. It has been a pleasure working with such a talented and motivated management team to build HeartLand into one of the leading national providers of commercial landscape services. We wish them the best with their new partners at PPC."

Piper Sandler served as lead financial advisor, while Solomon Partners and CCG Advisors served as co-financial advisors, to HeartLand, and Norton Rose Fulbright US LLP served as legal adviser to HeartLand and Sterling.