Green Bay, WI, June 01, 2021 (GLOBE NEWSWIRE) -- Earth Development, Inc. (“EDI” or the “Company”), a fast-growing provider of outsourced outdoor facility management solutions, has been acquired by Minnesota-based Crosswalk Capital (“Crosswalk”). CLA (CliftonLarsonAllen LLP), one of the leading professional services firms in the U.S., served as the exclusive financial advisor to Earth Development, Inc.
Earth Development, Inc. provides mission-critical snow and ice management services, as well as lawn and landscaping services. EDI creates significant value by managing essential service provider tasks on behalf of its customers, including due diligence, onboarding, quality assurance, billing accuracy verification, and general management of the service provider relationship. The Company’s customer base spans a broad range of industries and business sizes. EDI is headquartered in Green Bay, WI and serves approximately 500 customer locations across the Midwest.
Crosswalk Capital is led by its founder Eddy Zakes and has financial backing from a number of investment firms and/or high net-worth individuals. Eddy has assumed the role of EDI’s CEO and day-to-day responsibilities of running the Company.
EDI was owned and led by Justin and Katie Rollin. “It was a considerable effort for Katie and me to grow Earth Development and make it the finely-tuned business that it is today,” said Justin. “Eddy is stepping into a business that has all the right operational procedures in place and is primed for continued rapid growth. CLA’s process brought us together with a great buyer who was able to accommodate our goals for the sale.”
“We knew what Justin and Katie were looking to achieve with the sale, both from financial and non-financial perspectives,” said Ben Axelrod, managing director and group head of CLA’s investment banking practice. “We designed and executed our process so that Justin and Katie could have strong options to consider while staying true to their post-transaction objectives. In selecting Crosswalk as the ultimate buyer, Justin and Katie found an optimal mix of value recognition and realization of their non-financial goals.”
Stewart Etten and his team from Wausau-based law firm Ruder Ware acted as EDI’s trusted legal counsel on the transaction. Quality of earnings advisory was led by Joe Baez of CLA.
CLA investment banking professionals provide sophisticated corporate finance advisory and investment banking services to lower middle-market businesses and owners. The practice’s services include mergers and acquisitions, recapitalizations, and other transaction-related advisory services.
For more information on CLA and its investment banking practice, please visit: https://www.claconnect.com/services/investment-banking
Securities products, merger and acquisition services, and wealth advisory services are provided by CliftonLarsonAllen Wealth Advisors, LLC, a federally registered investment advisor and member FINRA, SIPC.
About CLA
CLA exists to create opportunities for our clients, our people, and our communities through industry-focused wealth advisory, outsourcing, audit, tax, and consulting services. With 7,400 people, more than 120 U.S. locations, and a global affiliation, we promise to know you and help you. For more information, visit CLAconnect.com. Investment advisory services are offered through CliftonLarsonAllen Wealth Advisors, LLC, an SEC-registered investment advisor.
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