Crystal Knafel started her landscaping business with a shovel, a wheelbarrow, and a willingness to outwork just about anyone. Today, she and business partner Krista Bontrager are building something much bigger.

In this episode of The Deal Factory, Jeff Harkness sits down with Crystal and Krista to discuss their evolution from a founder-led operation into a $5M+ multi-location business pursuing growth through acquisitions. They share how their visionary-integrator partnership works, what they learned acquiring Lawn & Turf, and why culture became one of their biggest post-close challenges.

The conversation covers M&A, integration, leadership, organic growth, technology, talent, and their long-term vision of building a $100M+ landscaping platform.

Landscaping Services Indiana | Design & Lawn Care Experts | Dynamic Landscaping

Key Discussion Points

• Crystal's journey from a shovel and wheelbarrow to business owner
• How Krista became the integrator to Crystal's visionary
• Using EOS and mentorship to create structure for growth
• Why they chose Lawn & Turf as an acquisition target
• Discovering culture problems after the deal closed
• Rebuilding the team and integrating the acquisition
• Moving from pure grit to intentional growth strategy
• Why alignment is critical in a business partnership
• Delegating responsibilities as the company scales
• Building a stronger organic sales engine
• Using Aspire, Weathermatic and AI in the business
• Recruiting and retaining the right people
• Why Crystal wants to build the platform—not sell to one
• The five-year vision for a $100M+ landscaping company

Chapters:

0:00 Intro

0:26 Meet Crystal and Krista

2:03 How Crystal Started the Business

5:29 Krista Joins the Business

8:43 Visionary vs. Integrator

10:50 Where the Business Is Today

13:01 Acquiring Lawn & Turf

15:48 The Reality of Post-Close Integration

18:22 Rebuilding Culture & Leadership

21:00 Women in the Green Industry

24:00 Learning to Delegate

28:15 How Their Partnership Works

31:20 Handling Disagreements & Staying Aligned

36:50 The Next Critical Hire

38:12 Technology & Operational Infrastructure

41:20 Robotics & AI

43:00 Solving the Labor Challenge

46:34 Building the Platform

48:35 Mentors, Belief & Thinking Bigger

52:18 The $100M Vision

55:35 Closing Thoughts

Private equity has never been more misunderstood.

In this episode of The Deal Factory, Jeff Harkness sits down with longtime friend and Plexus Capital Partner Brad Pence for one of the most practical conversations yet on how institutional investors actually evaluate businesses. From defining the lower middle market to explaining fund structures, leadership, AI, operations, and value creation, Brad provides an inside look at what separates companies that attract premium valuations from those that struggle to transact.

The conversation goes well beyond deal multiples. Brad shares how great investors think about people, leadership, operational excellence, technology adoption, capital deployment, liquidity, continuation vehicles, and why the best private equity firms are focused on building stronger businesses—not simply buying EBITDA.

Whether you're a founder considering institutional capital, an executive leading a PE-backed company, or simply trying to understand how today's investment market works, this episode offers a masterclass on what creates long-term enterprise value.

Key Discussion Points

• Brad Pence's journey from college graduate to Partner at Plexus Capital

• Defining the lower middle market vs. the middle market

• What institutional investors actually evaluate before investing

• Why leadership is the single biggest investment decision

• Building trust between founders and private equity partners

• Current state of lower middle market deal activity

• Return expectations, fund structures and investor discipline

• Continuation vehicles explained simply

• How AI is improving business development and operational efficiency

• Why data systems and financial visibility drive enterprise value

• The operational playbook behind successful platform companies

• Organic growth vs. acquisition integration

• Debunking common myths about private equity

• Alternative capital options through structured debt and minority investments

• Balancing career, family and high performance

Chapters:

0:00 Intro

1:10 Meet Brad Pence & Plexus Capital

7:30 From Analyst to Private Equity Partner

17:30 What Is the Lower Middle Market?

20:15 Current State of Private Equity

24:30 Capital Deployment & Investor Expectations

30:00 Fund Life Cycles & Liquidity

33:00 Continuation Vehicles Explained

35:45 AI's Real Impact on Private Equity

41:20 Leadership Is Everything

48:40 The Plexus Operating Playbook

52:10 Building Companies That Scale

56:45 Private Equity Myths Debunked

1:00:30 Structured Capital Without Giving Up Control

1:04:30 Brad's Leadership Habits & Closing Thoughts

Most entrepreneurs dream about building a business that lasts. Few ever build one capable of attracting multiple private equity partners, completing more than 20 acquisitions, and creating life-changing wealth for employees.

In this episode of The Deal Factory, Jeff Harkness sits down with Jerry Shill, Founder & CEO of Schill Landscape Collective, to unpack the 35-year journey from a local landscaping company to one of North America's fastest-growing commercial landscape platforms.

Jerry shares the pivotal decisions that changed everything—from splitting the family business and focusing exclusively on recurring maintenance revenue to designing a scalable "business in a box" operating model that ultimately attracted institutional capital. The conversation dives deep into acquisitions, integration, leadership development, value creation, data-driven operations, and what it really takes to build a billion-dollar vision.

Whether you're considering private equity, actively acquiring businesses, or simply trying to scale your company, this episode delivers a masterclass from someone who's lived every stage of the journey.

Key Discussion Points

• Building a maintenance-first business model that scales

• Why recurring revenue beats chasing construction projects

• Designing a "Business in a Box" operating system

• Preparing a company for institutional capital

• Lessons from partnering with Argon Capital and TruArc Partners

• Scaling from $2M to nearly $31M EBITDA

• What Jerry learned completing 21 acquisitions

• Why integration—not the deal—is the real challenge

• Centralized vs. decentralized leadership models

• Data, KPIs and forecasting at scale

• Creating wealth through management equity

• AI, robotics and the future of commercial landscaping

• Why customer issue resolution is a competitive advantage

• Building businesses that are designed to sell