Events Calendar
In This Section
Most Read Stories
Family found dead in Ohio home
Man gets 3 years in prison for having sex with horse
Robbers order bar patrons to empty pockets
Sex-toy study at Duke University raises some eyebrows
Akron man turns himself in after authorities turn up heat
Man appears alive at own funeral
Take comfort in knowing Browns could be bigger losers
Blogs:
Pets:
Not 101 Dalmations…but close!
The Heldenfiles:
Friday Notebook
Patrick McManamon:
For your perusal
Akron Zips:
No. 1 UA soccer remains perfect, Zips football defeats rival Flashes
Tribe Matters:
Tribe makes roster moves
Cleveland Browns:
Lewis doesn't like boycott
Kent State Sports:
Kent State falls to Akron, 20-28
Cleveland Cavaliers:
Gameblog: Cavs at Knicks
Buckeye Blogging:
Weekly ‘B’ Deck Report – New Mexico St.
Varsity Letters:
Wrestling, bowling teams prepare for season
All Da King's Men:
Blog of Mass Destruction:
Akron Law Café:
Health Care Financing Reform: (62) The Stupak Amendment
See Jane Style:
Muffle Your Muffler
Car Chase:
Perfect Weather for an Autumn Drive
Let's Talk Real Estate:
RUMORS: Downtown Restaurant Explosion
Ohio Travels with Betty:
Jack is looking for a trip to Southern Ohio the week of November 16.
Sound Check:
The Black Keys to perform benefit concert at Musica on November 27
HRLite House:
Personal Rant – Why People Do Not Live in Northeast Ohio
Akron Gamer:
The Care of Trees of Illinois will be subsidiary of employee-owned Kent company
By Paula Schleis
Beacon Journal business writer
Published on Tuesday, Jul 01, 2008
The nation's No. 1 and No. 3 residential/commercial tree care services are merging.
The Davey Tree Expert Co., the 7,000-employee company headquartered in Kent, is tying the knot with The Care of Trees, an Illinois-based operation with nearly 500 employees.
Davey has been on a shopping spree since 2003, acquiring about 30 lawn-care services, tree-trimming companies and resource firms in markets around the country.
While those acquisitions were cash actions, the Care deal is an exchange of stock for assets and liabilities.
Davey and Care are both employee-owned companies. Care will operate as a wholly owned subsidiary of Davey.
''It's an exciting time as we unite our individual strengths for the mutual benefit of our clients and our employee owners,'' said Karl Warnke, Davey's chief executive officer.
The Care of Trees posted $51 million in revenues for 2007 and serves 60,000 residential and commercial clients in Illinois, California, Connecticut, Maryland, New York, Pennsylvania and Virginia.
While Davey has offices in all of those states, it does not have a presence in all of the markets that Care covers.
''This merger gives us the chance to take the best practices of both companies across North America,'' said John Hendricksen, chairman of The Care of Trees.
Davey Tree, founded in 1880, is the 16th largest employee-owned company in the United States. It had consolidated revenues of $506 million in 2007.
The Care merger follows Davey's March acquisition of Wolf Tree Experts Inc., a Knoxville, Tenn.-based utility tree trimming company with 700 employees, a 13-state service area, and annualized revenues of over $40 million.
Paula Schleis can be reached at 330-996-3741 or pschleis@thebeaconjournal.com.
The nation's No. 1 and No. 3 residential/commercial tree care services are merging.
Get the full article here.
Comments
Click here to post your comments
