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Lipinski sold

Discussion in 'Commercial Snow Removal' started by grandview, Oct 27, 2011.

  1. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    Lipinski sold to L2 Capital Partners



    Lipinski sold to L2 Capital Partners
    Lipinski Outdoor Services, a nationally-recognized leader in commercial snow and ice removal, commercial landscape maintenance, parking lot maintenance, and other outdoor services has recently been sold to L2 Capital Partners in Radnor, PA.



    Robert Lipinski, founder and former owner of the Marlton, NJ-based company, made the decision to sell the business in order to pursue new business ventures after over 35 years of dedicated service.

    A long-time resident of the South Jersey area and a graduate of Cherry Hill East High School, Lipinski started the business in his parents' basement while working toward his degree in Ornamental Horticulture at Delaware Valley College in Doylestown, PA.

    Today, Lipinski Outdoor Services has grown to have a presence in over 25 states with revenues of nearly $50 million.

    According to Lipinski, the decision to sell to L2 Capital Partners was based on the firm's ability to grow the business on a national level while still maintaining the company's core employees and values.

    "I researched several potential buyers before making the decision to sell," Lipinski reports. "In the end, I chose L2 Capital because I felt comfortable that they would continue to operate the business in a way that I would like to see it run. All employees have been retained and the company is still headquartered in Marlton, NJ. Under the new ownership of L2 Capital, Lipinski Outdoor Services is positioned for significant growth, and I look forward to seeing the company's future success unfold."

    Now that the business has been sold, Lipinski has turned his full-time attention to Dynamic Defense Materials, LLC (DDM), a defense company that he founded in 2004.

    Lipinski is currently President and CEO of DDM and is working to grow the business internationally. DDM has recently been awarded multiple contracts to supply its portable armored wall system, McCurdy's Armor to the U.S. Army for use at Entry Control Points in Afghanistan. Currently, McCurdy's Armor is also being used in The United States, Iraq, Afghanistan, Mexico, and other locations.
     
  2. Matson Snow

    Matson Snow PlowSite.com Addict
    Messages: 1,985

    Whenever Investment Bankers get involved in things they have No clue about....Things go Downhill very Quick.....Can anyone say Chrysler and Cerbrius....

    This has the Makings of what happend in Erie PA. a few years Back.....:eek:
     
  3. lilweeds

    lilweeds PlowSite.com Addict
    Messages: 1,178

    I am told this happened a couple months back.
     
  4. Superior L & L

    Superior L & L PlowSite Veteran
    from MI
    Messages: 3,039

    50 mil in sales, Good for them !
     
  5. Rich Graz

    Rich Graz Senior Member
    Messages: 141

    so it looks like its down hill from here
     
  6. Rich Graz

    Rich Graz Senior Member
    Messages: 141

    Your thinking of the merger
     
  7. hoskm01

    hoskm01 Senior Member
    from AZ
    Messages: 475

    They're a capital company, this is what they do. While they may not be horticulturalists, agronomists or CSP's, they're smart enough to hire those who are if they want to grow, which they will.
     
  8. leolkfrm

    leolkfrm PlowSite.com Addict
    Messages: 1,412

  9. Maclawnco

    Maclawnco Senior Member
    from OH
    Messages: 628

    just read that press release and was shocked. One of my close friends sold his co to Buckingham capital and has been less than impressed with the subsequent opperations. Any time you see the term "mezzanine financing" you should raise your eye brows. Typically its a way for investors to pull their initial investment back out of the company while crippling the company with debt. This will be interesting to watch.