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AloStar Provides Senior Credit Facility to Yellowstone Landscape Group

September 25, 2013, 07:41 AM
Filed Under: Specialty Industries

AloStar Business Credit has provided a senior secured credit facility to Yellowstone Landscape Group, Inc., a full-service commercial landscaping firm servicing the south and southeast regions of the U.S. The senior secured credit facility consists of a revolver, term loan and equipment purchase line that will provide the company with working capital to support its continued growth.

Headquartered in Bunnell, FL, Yellowstone is a wholly-owned subsidiary of Gridiron Capital, LLC and is the sixth largest full-service landscaping firm in the U.S. The company offers a suite of landscaping services including specialized and ongoing maintenance, landscape design and installation services.  Its customer base consists of hotels and resorts, homeowner associations, property management companies and mixed-use retail properties, as well as state and local government departments.

“Yellowstone is a leader in the commercial landscape industry and we are excited to be able to provide the capital they need to achieve their growth objectives,” said Andy McGhee, president of AloStar Business Credit.

Yellowstone was established following the acquisition of Houston-based BIO Landscape & Maintenance and Atlanta-based Piedmont Landscape Contractors by Gridiron Capital in 2008. Yellowstone would then later complete the acquisition of Austin Outdoor, LLC and through a series of add-on acquisitions from July 2009 to January 2012 significantly expand its service offerings and geographic reach.

“AloStar took the time to understand our business and had the flexibility and creativity to match the capital structure to our needs,” said Tim Portland, CEO of Yellowstone Landscape Group, Inc.  “AloStar’s executives asked thoughtful questions, which combined with their analysis and problem solving approach, led to a very successful outcome for Yellowstone.  AloStar acted as true partners throughout the entire process.”

“This refinancing was a very important step in our plans for Yellowstone.  We believe the company is well positioned to grow as the demand for commercial landscape services increases.  AloStar was able to provide us with the right capital structure and help us capitalize on Yellowstone’s market position and potential,” said Owen Tharrington, Managing Director at Gridiron Capital.

AloStar Business Credit provides asset-based lending products nationwide to businesses ranging between $20 million and $300 million in revenue and with financing needs ranging between $5 million and $20 million. AloStar Business Credit is the asset-based lending arm of AloStar Bank of Commerce. For more information, visit

Founded in 2008 by Gridiron Capital, Yellowstone Landscape Group is a full-service landscape services company led by a team of professionals with years of experience in all lines of landscape maintenance, design and installation.

Gridiron Capital, LLC, headquartered in New Canaan, CT, is a private equity firm focused on creating value by acquiring and building middle-market manufacturing, service and specialty consumer companies in the United States and Canada. Gridiron’s principals work closely with management teams to develop strategies for portfolio companies, as well as providing resources to execute business plans and build industry-leading companies.

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