PEP Portfolio Company Terracare Associates Completes Add-On Acquisition

Progress Equity Partners (“PEP”) is pleased to announce the acquisition of Tierra Verde Resources and Blue Skies Landscape Maintenance, affiliated commercial landscape companies based in San Diego, CA. The transaction represents the fourth add-on acquisition, and second this year, to PEP portfolio company Terracare Associates (“TCA”), which is based in Denver, CO. The acquisition is a strategic extension of TCA’s current operations in Southern California.

“This transaction is a terrific opportunity to expand our current operations throughout the entire San Diego County area”, said Dean Murphy, President of TCA. “We look forward to partnering with the existing team of employees to continue their growth and working together in providing high quality services to its already impressive roster of existing clients.”

Bud Delgado, owner and founder of Tierra Verde Resources, added “I feel fortunate to have found a partner like TCA who will continue to support our growth and our employees well into the future. I have no doubt the broad resources of TCA will add significant value to our operations.”

TCA, based in Littleton, CO, has over 1,000 employees in four states and 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 14 branch locations throughout California, Colorado, Texas, and Utah. For more information about TCA, please go to www.myterracare.com