ABC Finance

Complete Landscaping Systems Inc. expects to close soon on its nearly $500,000 purchase of the adjacent Second Street building that is occupied by Baldridge Electric Inc. The price also includes buying the Complete Landscaping building at 1727 E. Second, which the company had been leasing. Acquiring the 8,000-square foot site next door will nearly double the Complete Landscaping’s space. The additional space at 1717 E. Second will allow Complete to accommodate the Green Thumb Lawn and Landscaping operation, which it recently purchased for $1 million.

The two companies have close to 150 employees. Complete Landscaping made nearly $10 million is sales in 2009 and serves customers in 11 states, primarily in the Midwest and Northeast. The company hopes to more than double its revenue in 2010. The company says acquiring Green Thumb will further spur growth. Complete Landscaping has been in business for 27 years.

The company was named earlier this year one of 15 finalists for the Wichita Business Journal’s 2009 Best in Business awards payday loans. It was named in August to Inc. Magazine’s 5,000 list, which ranks the fastest-growing, privately held companies in the United States. Complete Landscaping ranked No. 1,582 — No. 87 in the construction category — and has grown 202 percent since 2005. Revenue was $2.7 million in 2008. Baldridge, meanwhile, continues its search for a new location.

Owner George Baldridge says the company is considering six or seven possible locations — likely smaller than the 8,000 square feet he is selling. He says Complete won’t move in until his company, which is not closing, finds a new location. The company has been at its Second Street location for about 18 years.

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Filed under: legal by Specialist