Green Landscaping Group: Enters Germany - ABG

First deal in Germany, with accretive margins
Adds c. 3% to pro forma EBITA 2023e
Accretive to both margins and multiples


Brand recognition to support further M&A

Today, Green Landscaping (GLG) announced its first deal in Germany, with the acquisition of Schmitt & Scalzo, an outdoor maintenance-, landscaping- and infrastructure service provider in Hessen, Germany (headquartered southwest of Frankfurt). The company was founded in 1996 and GLG claims that the company has long-standing relations with public customers, and that the entrepreneur behind Schmitt & Scalzo is well-regarded in the addressable regions. The company had sales of EUR 13m (~SEK 151m), with margins "exceeding that of GLG". According to the CEO of GLG, this acquisition will be used as a platform for GLG to further expand in Germany, with the reputation of Schmitt & Scalzo expected to facilitate further M&A.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/green-landscaping-group/Equity-research/2023/6/green-landscaping-group---enters-germany/