Progress Equity Partners, Ltd. is pleased to announce the recent sale of Terracare Associates, LLC (“TCA”) to Monarch Landscape Holdings, LLC (“Monarch”), a portfolio company of One Rock Capital Partners, LLC. Progress Equity acquired TCA in May of 2009 and since the acquisition, the company successfully expanded its operations and evolved into a leading regional provider of outdoor maintenance services with ten branches located throughout Colorado, Texas, and California. Revenue nearly tripled during the investment period through both organic growth and add-on acquisitions.
We are pleased by the results of this transaction and believe Monarch is an excellent partner for TCA and its employees as it enters its next phase of growth. Steve Sangalis, Partner of Progress Equity, commented “We are proud of our successful partnership with Dean Murphy and the entire TCA management team and commend them for their outstanding achievements in building an industry leading company.” Dean Murphy, Terracare CEO, added “It was a pleasure to work with Progress Equity. Our entire team is appreciative of their collaborative and long-term focused investment approach. We are equally excited to partner with Monarch as the company enters its next stage of growth.”
About Terracare Associates
Terracare Associates, LLC is a leading provider of outdoor maintenance services for commercial and public properties. Headquartered in Littleton, CO, the company offers a comprehensive suite of landscape and infrastructure maintenance services to clients throughout California, Colorado, and Texas.