Terracare Associates (TCA), an outdoor maintenance company based in Littleton, Colo., acquired Landscape Management Services (LMS), based in San Jose, Calif. The transaction is a strategic extension of TCA operations in Northern California. Terms were not disclosed.
“This transaction is a terrific opportunity for our organization to grow along the peninsula, 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, will stay with the company and run LMS as a branch operation. There is no timetable for his departure.
TCA has about 850 employees in four states. The acquisition adds about 100 employees. The acquired company will eventually rebrand, but there is no timeline on the rebranding yet.
“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,” said Kaiser. “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.”
Prior to working out a deal, Kaiser and Murphy were introduced through a mutual friend. Murphy says TCA is always looking for companies that fits its long-term strategy.
TCA ranked No. 37 on the 2015 LM150 list of top revenue-generating landscape firms. It had 2014 revenue of $33,878,780—an 18 percent growth from 2013.
The company has private equity ownership. TCA’s investors include Progress Equity, Patriot Capital and Herbert Mezzanine Partners.
TCA provides outdoor maintenance—landscape, asphalt and concrete maintenance, street sweeping, snow removal, lake maintenance and other related outdoor services—to commercial and residential clients. It operates in multiple California locations, including Sacramento, Martinez, Brentwood, Livermore, Milpitas and San Diego. It also has operations in Salt Lake City, Dallas/Ft. Worth and Denver.
