Minority stake in Yellowstone Landscape acquired by Neuberger Berman Capital Solutions

Neuberger Berman Capital Solutions, on behalf of client funds, has acquired a significant minority stake in Yellowstone Landscape.

Yellowstone ranked No. 4 on Lawn & Landscape's Top 100 list in 2024.

Funds managed by Harvest Partners, a private equity firm based in New York, are retaining majority ownership of Yellowstone. Harvest Partners acquired ownership of the company from CIVC Partners in 2019.

Separately, funds managed by Harvest Partners SCF, Harvest’s non-control investment strategy, invested additional funds alongside NBCS. Terms of the investment were not disclosed. 

“We are excited to welcome NBCS as a partner in Yellowstone,” says Harry Lamberton, president and CEO of Yellowstone. “Combined with Harvest and NBCS, we will continue our pursuit of excellence in commercial landscaping for customers across the country, driving success through our five key priorities, and creating ever increasing development and career opportunities for our industry leading team of landscape professionals.”

“Yellowstone has long stood out as a differentiated, industry-leading company providing critical services with demand that is supported by long-term trends, and driven by an exceptional management team that is executing with discipline and consistency,” says J.T. Munch, managing director, NBCS. “We are thrilled to make this investment and look forward to partnering with the management team and Harvest Partners as Yellowstone continues to drive future growth and success.”

Headquartered in Bunnell, Florida, Yellowstone serves over 9,000 commercial landscape services throughout the United States. Yellowstone provides services that include landscape management, landscape installation, landscape enhancements, tree care services, irrigation & water management and snow & ice removal.

“We are very pleased to continue as the lead investor in Yellowstone, supporting the management team in their excellent execution, and welcoming NBCS as a partner,” says Stephen Fessler, partner at Harvest. “What the team at Yellowstone has built is truly exceptional, and we look forward to working together with NBCS to help the Company continue to execute their vision for strategic growth and superior customer and financial performance.”

Harris Williams served as financial advisor, and Ropes & Gray served as legal advisor to Harvest Partners and Yellowstone. Piper Sandler served as financial advisor, and Latham & Watkins served as legal advisor to Neuberger Berman Capital Solutions.