Partnership Strengthens Indiana Footprint
November 9, 2023
Jones Fish Hatcheries & Distributors, LLC ("Jones Lake Management" or the "Company") announced that it has completed the acquisition of Ponds Rx, LLC ("Ponds Rx"), a provider of pond and lake management services to commercial and residential customers across Indiana. The acquisition of Ponds Rx, based in Fishers, IN, deepens Jones Lake Management’s presence in the greater Indianapolis market and continues the Company’s track record of partnering with leading water services companies.
"Over the last 30 years, Mark Litwiler has built Ponds Rx into one of the leading pond and lake management providers in Indiana. The Ponds Rx ethos and unwavering commitment to delivering the highest level of customer service makes this acquisition a natural extension of our Indianapolis operations," said Kelly Veatch, CEO of Jones Lake Management. "We are delighted to welcome the talented team at Ponds Rx and their esteemed clients to the Jones Lake Management family," said Rob Jones, President of Jones Lake Management.
Mark Litwiler, Founder of Ponds Rx, commented, "This partnership is a natural fit for my employees and customers. Both companies share the common goal of using the latest technology to restore and preserve the health and beauty of waterbodies, and I look forward to watching the combined business continue to thrive."
"This acquisition further solidifies Jones Lake Management as the leading independent lake management operator in the Midwest," said Michael Brofft, Principal at Fort Point Capital. "We are thrilled that Mark Litwiler has entrusted the Jones team to build upon his legacy in the Indianapolis market, and we look forward to continuing our growth trajectory in this attractive geography.
Vorys and CliftonLarsonAllen advised Jones Lake Management.
About Jones Lake Management
Jones Lake Management, headquartered in Cincinnati, Ohio, is an industry leading provider of professional pond and lake management services. With scaled operations across 12 markets, the Company offers a range of services including annual, recurring pond and lake treatment services, fish stocking, aeration systems and services, algae and aquatic weed management, and other related services. To learn more, please visit joneslakemanagement.com.
About Fort Point Capital
Fort Point Capital brings a management-led, growth-oriented approach to private equity investing, targeting fragmented sectors of the business services industry. Founded in Boston in 2011, Fort Point partners with founders and management teams to accelerate growth by providing resources to expand teams and infrastructure, improve service offerings, access new markets, and support follow-on acquisitions. Fort Point fulfills its commitment to management, employees and shareholders by employing a repeatable process to drive durable value, showcased in over 45 acquisitions since its inception. Fort Point is currently investing from FPC Small Cap Fund III. To learn more, please visit fortpointcapital.com.