K&L Gates Advises Carousel Capital on Ares Management Acquisition of Landscape Workshop Stake

K&L Gates Advises on Major Private Equity Deal, Showcasing Global Reach and Integrated Expertise

Breaking News: K&L Gates LLP has successfully advised on a significant private equity transaction, highlighting the firm’s extensive capabilities across the entire deal lifecycle. The complex deal involved intellectual property, data privacy, real estate, environmental, antitrust, and Delaware law considerations, demonstrating the firm’s ability to marshal diverse legal expertise for its clients.

The transaction saw a multidisciplinary K&L Gates team, comprising partners, of counsel, and associates from various domestic and international offices, providing comprehensive counsel. Key contributors included Jake Bernstein and Jane Petoskey for intellectual property matters; Christian Schütz and Sean Wood for data privacy issues; Stanford Baird for environmental law; Vishal Mehta,John Susoreny,and Henry Brockway for antitrust guidance; and Kelly Teribile for matters concerning Delaware law.

“This transaction underscores the breadth and depth of K&L Gates’ capabilities across the private equity lifecycle,” commented a representative from K&L Gates. “From complex structuring and diligence to regulatory and industry-specific guidance, our integrated platform allowed us to deliver seamless, buisness-focused counsel that helped drive a successful outcome for our client.”

Evergreen insight: This landmark deal serves as a compelling case study for the vital role of specialized legal expertise in navigating the complexities of private equity. The ability of a law firm to seamlessly integrate counsel across a wide spectrum of practice areas – from intellectual property and data privacy to antitrust and real estate – is critical for achieving successful outcomes in today’s intricate financial and regulatory landscape. For businesses engaging in private equity transactions, selecting legal partners with a proven track record of cross-disciplinary collaboration and global reach is paramount. The efficient management of diverse legal streams, as demonstrated by K&L gates, not only mitigates risk but also accelerates deal completion and enhances value creation. As the private equity landscape continues to evolve, the demand for such integrated, business-minded legal solutions will only intensify.

What specific due diligence activities did K&L Gates undertake to assess potential risks and liabilities associated with Landscape Workshop?

Deal Overview: Ares Management Expands into Landscape Services

Ares Management Corporation, a leading global investment manager, has significantly expanded its presence in the landscape services industry through a strategic stake acquisition in Landscape Workshop. K&L Gates LLP served as legal counsel to Carousel Capital, the private equity firm selling a portion of its ownership in Landscape Workshop to Ares Management. This transaction highlights the continued consolidation within the fragmented landscape services market and the attractiveness of businesses with strong regional presence and recurring revenue models. The deal closed on July 24, 2025.

K&L Gates’ Role in the Transaction

K&L gates provided comprehensive legal counsel to Carousel Capital throughout the entire transaction process. This included:

Due Diligence: Conducting thorough legal due diligence on Landscape Workshop to identify and assess potential risks and liabilities.

Negotiation: Skillfully negotiating the terms of the investment agreement with Ares Management and their legal counsel.

Transaction Structuring: Advising on the optimal transaction structure to achieve Carousel Capital’s objectives.

Documentation: Preparing and reviewing all key transaction documents, including the stock purchase agreement, ancillary agreements, and closing deliverables.

Regulatory Compliance: Ensuring compliance with all applicable securities laws and regulations.

The K&L Gates team was led by partners specializing in private equity and mergers & acquisitions, bringing significant experience to bear on this complex transaction. Their expertise was crucial in navigating the intricacies of the deal and securing a favorable outcome for Carousel Capital.

landscape Workshop: A Leading Landscape services Provider

Landscape Workshop is a prominent provider of comprehensive landscape services across the Southeastern United states. Their services include:

Landscape Design & Installation: Creating and implementing aesthetically pleasing and functional outdoor spaces.

Landscape Maintenance: Providing ongoing care for landscapes, including mowing, pruning, fertilization, and irrigation.

Irrigation Services: Designing, installing, and maintaining irrigation systems.

Hardscape Services: Constructing patios,walkways,retaining walls,and other hardscape features.

The company serves a diverse customer base, including commercial properties, residential communities, and municipalities. Landscape Workshop’s strong reputation for quality service and customer satisfaction has fueled its growth and success.

Ares Management: Expanding its Portfolio in the Outdoor Services Sector

Ares Management’s investment in Landscape Workshop reflects a broader trend of private equity firms targeting the outdoor services sector. This sector is benefiting from several tailwinds, including:

Aging population: An increasing number of homeowners are seeking professional landscape services as they age.

Rising Disposable Income: Higher disposable incomes are driving demand for premium landscape services.

Focus on Outdoor living: A growing emphasis on outdoor living spaces is boosting demand for landscape design and installation.

Fragmented Market: The highly fragmented nature of the landscape services market presents opportunities for consolidation and growth.

Ares Management manages over $360 billion in assets across various option investment strategies, including private equity, real estate, and credit. their investment in Landscape Workshop is expected to provide the company with the capital and resources to accelerate its growth and expand its geographic reach.

Carousel Capital’s Investment Strategy

Carousel Capital focuses on investing in lower-middle-market companies with strong growth potential.Their investment in Landscape Workshop demonstrates their ability to identify and partner with leading businesses in attractive industries. The partial sale to Ares Management allows Carousel Capital to realize a significant return on its investment while retaining a stake in the company and continuing to support its future growth.

Implications for the Landscape Services Industry

This transaction is likely to have several implications for the landscape services industry:

Increased M&A activity: The deal could spur further consolidation within the industry as other private equity firms seek to capitalize on the growth opportunities.

Higher Valuations: Increased investor interest could lead to higher valuations for landscape services companies.

Greater Professionalization: The influx of capital from private equity firms could drive greater professionalization and operational improvements within the industry.

Focus on Technology: Investment in technology,such as route optimization software and customer relationship management (CRM) systems,is likely to increase.

key Players Involved

Ares Management Corporation: The buyer,a global investment manager.

Landscape Workshop: The target company, a leading landscape services provider.

Carousel Capital: The seller, a private equity firm.

*K&L Gates