TenCate Grass acquires majority stake in The LandTek Group

TenCate Grass announced the acquisition of a majority stake in The LandTek Group, a leading provider of athletic field engineering, construction, project management and maintenance services on the East Coast from New York to South Florida.

“This partnership represents a culmination of the full LandTek team’s efforts since I started LandTek in my mother’s garage 45 years ago,” said Mike Ryan, CEO of LandTek. “TenCate is the ideal partner with experience, capabilities and know-how needed to support LandTek’s long-term growth strategy.”

The founders and management team of LandTek will continue to be substantial shareholders and will also continue to lead the company.

“LandTek has a proven track record of sustained growth in geographies that have been underserved by TenCate,” said Joe Fields, chief executive officer of TenCate Grass Americas. “We are very excited about the combination of LandTek’s unparalleled customer service and quality with TenCate’s market-leading product portfolio and unparalleled U.S.-based supply chain.”

Raymond James served as financial advisor to The LandTek Group. Ruskin Moscou Faltischek P.C. served as legal advisors to LandTek. Burr & Forman and Latham & Watkins served as legal advisors to TenCate.

TenCate, headquartered in the Netherlands, is a leading, vertically integrated manufacturer, distributor and installer of artificial turf and other surfaces for sports. Some examples include surfaces for football, soccer, baseball, softball, field hockey and a variety of smaller sports, as well as for the rapidly growing outdoor living market.