NMS-backed Treeways recaps Hazlett

Treeways Inc, a portfolio company of NMS Capital, has recapitalized Townville, Pennsylvania-based Hazlett Tree Service Inc, a vegetation management services company.

Treeways Inc, a portfolio company of NMS Capital, has recapitalized Townville, Pennsylvania-based Hazlett Tree Service Inc, a vegetation management services company. No financial terms were disclosed for the transaction that was done in partnership with Hazlett management.

PRESS RELEASE

New York, NY, June 16, 2021 – NMS Capital (“NMS”) portfolio company Treeways, Inc. (“Treeways”) announced today that it has partnered with company management in the recapitalization of Hazlett Tree Service, Inc. (“Hazlett” or the “Company”). Hazlett is a leading vegetation management services company serving the utility end-market in Pennsylvania, New Jersey, Connecticut, and Ohio. Hazlett represents Treeways’ third acquisition under its vegetation management platform. Terms of the transaction were not disclosed.

Hazlett was founded in 1966 and is headquartered in Townville, Pennsylvania. The Company is a leading vegetation management services provider and for over 50 years, has remained at the forefront of the vegetation management industry and currently serves several of the region’s largest utility companies and electrical cooperatives.

John Smith, President of Hazlett commented, “We are excited to partner with Treeways and the opportunity it presents for our employees and customers alike to continue building upon the strong foundation already in place. Hazlett has been providing high quality service in our regions for over 50 years and we believe this partnership will help us continue to exceed our customers’ expectations as well as provide continued opportunities for our employees.”

Noel Jeon, NMS Managing Director, and Roxanne Bowman, NMS Operating Executive, added, “John and his team’s commitment to safety, quality, integrity, and reliability is well-aligned with the broader Treeways philosophy, and we are excited for Hazlett to join the Treeways platform. As our third partnership within Treeways, Hazlett expands our customer and regional presence, and further solidifies our presence as one of the largest vegetation management companies serving the Northeast, Mid-Atlantic and Midwest markets.”

About Treeways:
Treeways is a platform holding company that provides vegetation management services primarily to utilities. Our operating companies, JAFLO, Treesmiths, and Hazlett, are leading vegetation management companies in their regions, with support from Treeways across safety, hiring & training, fleet management, and finance & accounting. Treeways continues to partner with additional like-minded companies in the vegetation management industry and welcomes owners and operators interested in becoming a part of the Treeways platform to reach out. For additional information on Treeways, please visit the company’s website at www.treeways.com.

About NMS Capital:
NMS Capital is a New York headquartered private investment firm specializing in strategic equity investments and leveraged buyouts of lower middle market companies. The firm was formed through the spin-out of a group of portfolio companies from the Goldman Sachs Merchant Banking Division. NMS focuses on companies headquartered in the U.S. poised to benefit from sustainable growth trends with particular concentration on companies in Business Services and Healthcare Services. For additional information on NMS, please visit the firm’s website at www.nms-capital.com.