PEP Portfolio Company Revere Completes Add-on Acquisition

Dallas, TX – Revere Packaging, a portfolio company of Progress Equity Partners, LLC. is pleased to announce its recent acquisition of Plastic Package, Inc.

Revere Packaging, in business for more than 60 years, is a niche provider of custom recyclable aluminum and plastic packaging solutions to the food services industry. Plastic Package, Inc. produces proprietary and custom trays and containers primarily to the bakery, confectionary, pre-packaged meals and school nutrition markets.

“With more than 150 employees and over $40 million in annual revenues, the newly-combined entity will more than double the size of sales, employees, and manufacturing capacity,” commented David Watts, CEO of Revere Packaging. “This will translate to shorter lead times, faster delivery, and the availability of a broader product mix for our customers.”

Mike Miller, President of Plastic Package remarked, “This partnership reflects our shared philosophy of providing exceptional, sustainable packaging solutions with an unparalleled level of service to our customers. We’re proud to be a part of this revolutionary company.”

Progress Equity partnered with Stonehenge Partners and Texas Capital Bank in completing the transaction.

About Revere Packaging, LLC

Revere, founded in 1801, provides customers with a creative and innovative source of recyclable plastic and aluminum food packaging solutions delivering customization, flexibility and exceptional speed-to-market products. Revere is certified in food safety by the Safe Quality Food Institute (SQFI). For more information, please visit http://www.reverepackaging.com or follow @ReverePackaging on Twitter.

About Plastic Package, LLC

Plastic Package (headquartered in Sacramento, California) produces proprietary and custom trays and containers primarily for the bakery, confectionary, prepackaged meals and school nutrition markets. Plastic Package is inspected annually by the National Sanitation Foundation (NSF), an independent quality auditor. For more information, please visit http://www.plasticpack.com.

 

Progress Equity Partners Completes New Investment in Davey Coach

Progress Equity Partners, LLC. is pleased to announce its recent investment in Davey Coach and Cornerstone Bus Leasing and Rentals. Based outside of Denver, CO, the company is one of the nation’s leading dealers of new and used mid-sized buses and shuttles, as well as a premier provider of passenger transport vehicles for lease and rental.

Tom Davey, who founded the company in 1992, will continue as CEO and stated, “We are excited to partner with an experienced investment group that shares our vision for the continued expansion of our service capabilities and supports our growth initiatives in this unique and evolving industry.” Steve Sangalis, Partner at Progress Equity, commented “Davey has a long history of success in providing its diverse customers with comprehensive solutions to satisfy their passenger transportation needs. We are honored to partner with Tom and look forward to being part of the company’s future.”

Progress Equity partnered with Harbert Mezzanine Partners and Great Western Bank in completing the transaction. Learn more about the company at www.DaveyCoach.com.

 

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

 

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.

Progress Equity Partners Announces the Sale of D&S Residential

Progress Equity Partners is pleased to announce the recent sale of D&S Residential to Comvest Partners. Progress Equity, together with its investment partners, held the investment in D&S for almost 11 years and generated a return of over 5 times invested capital over the period.

D&S Residential serves over 2,000 individuals with intellectual and developmental disabilities through 334 group homes, 10 day habilitation centers and 328 foster care centers. During Progress Equity’s investment period, D&S built an exceptional management team while developing systems and processes that allowed for seamless, rapid growth, both organically and through acquisition. The company grew revenue from $28 million to over $125 million and currently employs over 3,500 people.