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.