THE TRANSACTION – Reliable Property Services made a corporate decision to grow through acquisition, with a specific goal of expanding its geographic footprint in the Upper Midwest.
One of the Reliable owners had a previous business relationship with Bruce Behm, President of Quazar Capital Corporation; based on this relationship and Quazar’s expertise and experience in buy-side advisory, Reliable retained Quazar to perform a targeted search.
Quazar, with the help of Reliable’s management, researched the industry, identified, qualified and contacted numerous potential targets throughout the Upper Midwest. Quazar successfully reached out to a number of potential acquisition targets. After reviewing multiple opportunities, Reliable decided to pursue a partnership with The Bruce Company.
Reliable Property Services will acquire The Bruce Company’s lawn maintenance, snow and ice management, and agronomics businesses in the Milwaukee, Racine, and Madison markets. The Bruce Company will retain its design/build business in Wisconsin and expand its wholesale nursery sales and design/build architectural practice to Minnesota and Iowa. Reliable will retain The Bruce Company’s existing management team.
ABOUT RELIABLE PROPERTY SERVICES – Reliable Property Services, headquartered in Eagan, Minnesota, offers snow and ice management services as well as lawn and landscape maintenance throughout the Midwest. Reliable, founded over 30 years ago, is the seventh largest snow and ice management company in the United States. Reliable is a portfolio company of Private Capital Management.
“We are excited about the opportunity to bring The Bruce Company’s widely respected design expertise to our customers throughout the Midwest and in return bring our snow and ice management and landscape maintenance systems expertise to The Bruce Company’s customers throughout Wisconsin.” – James Hansen, Chairman at Reliable Property Services
“Quazar did a great job. We received an overwhelming response from potential targets and had ample sellers to meet with and evaluate, which was in large part due to the professionalism of Quazar and Quazar’s approach.” – James Hansen, Chairman at Reliable Property Services
ABOUT THE BRUCE COMPANY – The Bruce Company, headquartered in Middleton, Wisconsin, is one of the 50 largest landscape supply and services companies in the United States. The Company, founded in 1952, offers wholesale nursery sales, award-winning landscape design/build service as well as irrigation systems and landscape maintenance.
“This partnership will allow the Bruce Company to continue to provide exceptional services for current and prospective clients” – Bliss Nicholson, Chief Executive Officer at the Bruce Company
ABOUT QUAZAR CAPITAL CORPORATION – Quazar Capital Corporation is an Investment Banking firm that specializes in confidentially helping privately held companies with Mergers and Acquisitions, recapitalizations, and financial advisory services.