SANTA CLARITA, Calif., Nov. 1, 2018 /PRNewswire-PRWeb/ -- Valencia-based Landscape Development Inc. announced today that its maintenance division, Enhanced Landscape Management, has completed the asset purchase of Las Vegas-based NewTex Landscape Inc.
The purchase expands the operations of LDI, which has annual revenues in excess of $110 million in its California operations, into new territory.
NewTex owner Michael Martinez, who joins the ELM executive team as regional manager, said the acquisition by LDI presents an opportunity for the companies' teams to grow stronger, together.
"I have had the pleasure of getting to know the LDI/ELM team over the course of the past couple years. What started as a relationship between companies working to develop and deploy new technologies turned into an opportunity for us to align and grow stronger together," said Martinez, who will play a key role in the integration of the NLI business into ELM as well as future business development.
NewTex through the course of nearly two decades has established a strong, local reputation for quality and customer service relating primarily to commercial landscape maintenance and tree service. The staff of approximately 120 employees of NLI is being retained, including field personnel and management.
"The cultural fit and opportunities for my employees were of the highest priority for me," Martinez said. "LDI/ELM has a strong track record of stability, growth, employee development and know-how when it comes to acquisitions. This made me comfortable in my decision to align with them and be part of their future growth, management and innovations to come. My staff were warmly welcomed and made to feel as valuable to LDI/ELM as they are to me."
ELM Division President Ron Reitz said the acquisition brings a wealth of new talent into the LDI/ELM team as the company extends its reach into Nevada for the first time.
"It has been a goal of our company to stretch outside of California for some time now and this opportunity brought us together with a great team of professionals in the Southern Nevada market," Reitz said. "This is personally exciting for me as I attended UNLV and spent 15 years in Las Vegas working in the commercial landscape and residential development industries. I am very familiar with the local community and look forward to again being a part of it."
Reitz added that the acquisition will benefit team members and clients alike. "When the opportunity came for us to align with NewTex and the team that Michael had assembled, it was something we had to seize upon. This addition to our family brings with it greater opportunities for our employees and allows us to deliver expanded service offerings to our valued clients."
Newtex will retain its unique brand identity for the time being as they have developed a strong brand in their market. Soon, an expanded line of services with be added in the Las Vegas area including commercial construction, erosion control, hydroseeding and design. NewTex clients will continue to experience the same familiar service, staff and management to which they are accustomed.
LDI President-CEO Gary Horton said the acquisition is an important step in the company's expansion of services and its plans to serve additional markets.
"This is an exciting addition to our LDI family and one which will bolster our presence in key markets," Horton said. "This acquisition also allows us to provide additional services to our existing clients who operate in both California and Nevada. We continue to pursue acquisition opportunities to grow our business and provide best-in-class service to our valued clients."
Horton founded LDI in 1983. The company currently operates from 12 regional offices throughout California and Southern Nevada.
SOURCE Landscape Development Inc.
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