| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| LandCARE USA, Inc. |
| Three Riverway, Suite 630, Houston, TX 77056 * (800) 492-1101 |
| The company was founded in 1997 to become a leading national provider of comprehensive landscape and tree services to the commercial and institutional markets. |
| Manager | Tier | Phone |
| BT Alex Brown | Lead Manager | (410) 727-1700 |
| Nationsbanc Montgomery Securities, Inc. | Co-manager | (415) 627-2100 |
| Sanders Morris Mundy Inc. | Co-manager | (713) 250-4281 |
| NYSE: | GRW | Agricultural: | SIC 0782 | |
| Type of Shares: | Common Shares | Filing Date: | 3/18/98 | |
| U.S. Shares: | 5,000,000 | Offer Date: | 6/3/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $9.00 - $11.00 | |
| Primary Shares: | 5,000,000 | Offer Price: | $8.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.56 | |
| Offering Amount: | $50,000,000 | Selling: | $0.30 | |
| Expenses: | $4,000,000 | Reallowance: | $0.10 | |
| Post-IPO Shares: | 12,722,043 | |||
| Employees: | 2400 |
| Issuer's Law Firm: | Bracewell & Patterson |
| Bank's Law Firm: | Piper & Marbury |
| Registrar/Transfer Agent: | American Stock Transfer & Trust Co |
| Auditor: | Arthur Andersen |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/97 | 12/31/97 | ||||
| Revenue: | $118.80 | Assets: | $103.33 | ||
| Net Income: | $5.85 | Curr Assets: | $26.53 | ||
| EPS: | $0.48 | Liabilities: | $58.96 | ||
| Prior EPS: | Curr Liab: | $48.95 | |||
| Cash Flow/Oper: | Equity: | $44.37 | |||
| Cash Flow/Fin: | Cash: | $3.83 | |||
| Cash Flow/Inv: | Working Cap: | -$22.41 | |||
| Competition |
| The landscape and tree services industry is highly competitive. The Company believes that the principal competitive factors in the commercial and institutional segment are (i) customer relationships; (ii) price; (iii) quality, timeliness and reliability of services provided; and (iv) geographic scope of operations. Most of the Company's landscape services competitors are small, owner-operated companies operating in a limited geographic area. However, there are a few large, private landscape service companies which operate in multiple markets and have periodically acquired some small landscape companies. TruGreen-ChemLawn, a division of ServiceMaster, recently acquired several commercial landscape services companies, although it continues to focus primarily on residential lawn spraying. |
| Business Plan |
| The Company believes that there are significant opportunities to increase the profitability of the Founding Companies and any subsequently acquired businesses. The key elements of the Company's operating strategy are: (I) FOCUS ON COMMERCIAL AND INSTITUTIONAL MARKETS, (ii) OPERATE ON DECENTRALIZED BASIS, (iii) ACHIEVE OPERATING EFFICIENCIES and (iv) ATTRACT AND RETAIN QUALITY LABOR AND SUPERVISORY PERSONNEL. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to pay the cash portion of the purchase price for the Founding Companies, to repay expenses incurred in connection with the organization of LandCARE and the offering, to repay the existing debt of the Founding Companies and for working capital and for future acquisitions. |