8.24.15 // Lenox Hill Capital announces the recapitalization of RCI by management and private investors
Slidell, Louisiana – August 24, 2015 – Lenox Hill Capital Advisors is pleased to announce that its client, Rotolo Consultants, Inc. (“RCI”) has completed a recapitalization transaction with a consortium of private equity and mezzanine investors and RCI management.
The transaction was effective as of August 24, 2015. Terms of the transaction were not disclosed by the parties. Lenox Hill Capital Advisors served as the exclusive financial advisor to RCI and its shareholders. The Lenox Hill Capital team worked closely with RCI’s management and shareholders to explore strategic alternatives for the Company and coordinate the transaction process.
RCI is a leading provider of landscaping maintenance and construction services throughout the southern United States, serving a broad range of clients including commercial and government entities, healthcare facilities, gaming resorts, hotels, industrial and business parks, multi-family developments, educational and athletic facilities, and other commercial properties. Headquartered in Slidell, Louisiana, RCI also has operating branches in Memphis, Tennessee; Baton Rouge and Lake Charles, Louisiana; and Biloxi and Jackson, Mississippi. RCI has a strong track record of providing industry-leading quality and customer service, and the RCI management team, led by CEO, Keith Rotolo, will continue to operate RCI going forward.
Keith Rotolo, CEO of RCI, commented: “We could not have been more pleased with the service that Lenox Hill Capital provided during the transaction process. Through the entire process, Lenox Hill displayed a depth of knowledge and experience coupled with essential advice that allowed for a successful transaction. Sharif Tanamli’s hands-on guidance and advice was critical in making this a successful recapitalization.”
Joe Rotolo, Co-Founder and Former President and CEO of RCI added: “Lenox Hill Capital has represented our family’s businesses over the past 15 years in three transactions. We have developed a relationship with Sharif and Lenox Hill that transcends business; Sharif has always been a valued advisor who has provided expert advice and confident direction throughout each transaction. Once again, through a competitive and thorough process, Lenox Hill has provided the perfect match-up for RCI with our new private equity partners. We are excited about the future with our new partners and the expansion of RCI to national prominence.”
About Rotolo Consultants
Rotolo Consultants, Inc. is the largest landscape contractor in the state of Louisiana and ranked one of the top 35 largest in the United States (according to Lawn & Landscape Magazine’s Top 100 Landscaping Companies recent league tables). RCI is headquartered in Slidell, Louisiana just outside of New Orleans, with multiple facilities in a contiguous tri-state area. RCI is a full-service landscaping contractor offering a wide range of services including landscape maintenance, commercial pool construction and landscape construction. With approximately 400 employees and projected 2015 revenue approaching $40 million, RCI is a dominant force in its industry in the southeastern United States.
RCI offers one point of contact for multiple scopes of work including landscaping, irrigation, water features, pools, fencing, concrete, retaining walls, lighting and related services. Following the completion of the construction phase of a new project, RCI consistently converts the customer to a long-term maintenance contract. Management estimates that more than 25% of the maintenance division’s revenue is generated from construction projects that have converted to maintenance accounts, which demonstrates the added-value of the Company’s construction division.
RCI has further expanded its maintenance operations to include numerous stand-alone maintenance services from Interstate Mowing (ROW) to caretaker services for cemeteries and memorial gardens. In this manner, RCI has consistently increased its geographic footprint, market density, client base and gross revenue, all while maintaining the core values that have served its clients and staff so well for three generations. Additional details may be found on the Company’s website: www.rotoloconsultants.com.
About Lenox Hill Capital Advisors
Lenox Hill Capital Advisors, Inc. is a private mergers & acquisitions advisory firm based in New York City with branch offices in Connecticut and Louisiana. The firm’s highly seasoned professionals specialize in middle-market mergers & acquisitions, private equity recapitalizations, restructurings, business ownership transition planning, business valuations and related financial advisory services.
Lenox Hill Capital has maintained long-standing coverage of the landscaping, facilities management & maintenance, construction and engineering services industries and continues to actively advise and seek M&A opportunities in these sectors.
