Terracare Associates, a portfolio company of Progress Equity Partners, has been acquired by Monarch Landscape, a portfolio company of One Rock Capital Partners
Prestwick is pleased to announce the sale of Terracare Associates to Monarch Landscape Holdings, LLC, a portfolio company of One Rock Capital Partners, LLC. Prestwick acted as the exclusive advisor to Terracare and its private equity shareholder, Progress Equity Partners. The terms of the transaction were not disclosed.
Terracare is a leading outdoor maintenance service company, providing a full range of landscape and infrastructure services to commercial customers and governmental authorities in the western U.S. The Company offers a broad range of services that are critical to its customers, including contracted landscape maintenance, landscape enhancements, irrigation, and snow removal. Terracare also offers contracted public works services, such as asphalt and concrete repair, sign replacement, and emergency response to municipal customers. Terracare operates multiple branches throughout California, Texas, and Colorado.
Progress Equity Partners, with offices in Dallas and Denver, is a private equity investment firm that acquires majority control of entrepreneurial, lower middle-market businesses. The principals of Progress Equity are relationship driven, long-term investors and have been partnering with owners and management teams to build industry leading companies since 1993.
Monarch was formed by One Rock in 2015 to pursue a regional consolidation of commercial landscape services companies in the western U.S. Following the acquisition of Terracare, Monarch has operations in five states and offers a full suite of landscape services to its customers, including landscape maintenance, enhancements, irrigation, arbor care, public infrastructure, and landscape construction.
One Rock Capital Partners is a private equity firm with offices in New York and Los Angeles that makes controlling investments in middle-market companies, primarily in the manufacturing, chemicals, industrial & business services, and auto retail sectors.