PEP Portfolio Company Terracare Associates Completes Add-On Acquisition
Progress Equity Partners (“PEP”) is pleased to announce the acquisition of Landscape Management Services (“LMS”) based in San Jose, CA. LMS represents the third add-on acquisition to PEP portfolio company Terracare Associates (“TCA”), an industry leading outdoor maintenance company, and is a strategic extension of TCA’s current operations in Northern CA.
“This transaction is a terrific opportunity for our organization to grow along the peninsula of the San Francisco Bay area and we couldn’t be more pleased to partner with the strong ownership and management team currently in place at LMS”, said Dean Murphy, President of TCA. “The team at LMS has built a portfolio of quality-minded clients and we will certainly work together with the LMS staff to meet and exceed their expectations going forward.”
George Kaiser, owner and founder of LMS, added “I feel fortunate to have found a partner like TCA who will continue to support the growth of LMS and its employees well into the future. The process was straight forward and I’m pleased to partner with TCA and our shared values for operating with respect, integrity, and with concern for our communities and the environment.”
TCA is based in Littleton, CO and has approximately 850 employees in four states. TCA is a leader in outdoor maintenance, providing services to both commercial and municipal clients, including landscape, asphalt and concrete maintenance, street sweeping, snow removal, lake maintenance and other related outdoor services.
TCA currently operates from 11 branch locations throughout California, Colorado, Texas, and Utah. For more information about TCA, please go to www.myterracare.com.
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