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I just re-read the original post, your offer was more than fair. If you do work out a deal, you need to fully separate from his company.
DON'T keep the same name, and don't let him have any say in anything that happens to his business.
Are you sure the income/profit numbers he gave you were just from the lawns and not lawns and landscape?
-Michael
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There is an Old Blue Chair for each and every one of us, we just have to find it. 
2006 GMC Sierra 2500hd crew cab with 6.0 gas
Kubota L4740 w/ loader and landscape rake
Exmark Lazer Z 60"
Toro Proline 36" wb w/t-bar controls
JS46 22" walk-behind $500 piece of $h!t, don't buy one
Echo trimmers, chainsaws, pole hedge trimmer, pole saw, hedge trimmer
Husqvarna 130BT blower
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