Progressive Solutions, LLC has been acquired by Asplundh Tree Expert Co.
The private shareholders of Progressive Solutions, LLC have sold the company to Asplundh Tree Expert Co. (Asplundh) for US$8 million.
Progressive Solutions, LLC is a national leader in herbicide-related vegetation management services with operations in 23 states in the US.
Asplundh, is a family-owned and operated corporation headquartered near Philadelphia, Pennsylvania. The company has grown and now operates throughout the USA, Canada, New Zealand and Australia. As a full-service utility contractor, Asplundh performs tree pruning and removals, right-of-way clearing and maintenance, vegetation management with herbicides, and emergency storm work and logistical support. Asplundh is the parent company of UtiliCon Solutions, Ltd. whose subsidiaries provide overhead and underground line construction, meter reading and installation, infrared inspection, utility pole maintenance and street lighting/traffic signal services.
Oaklins' team in Dallas was engaged after the owners had received an offer to buy the company from a potential acquiror. The Dallas team was able to increase the value at closing for the sellers by approximately 75% from their pre-engagement offer. The shareholders received a substantial cash payment at closing, attractive employment agreements and a realistic earn-out agreement that will significantly increase the value of the transaction if certain operational objectives are met.
Talk to the deal team
Bryan Livingston
Oaklins Capital Alliance
Related deals
TEAM Safety Services Limited has been acquired by Vadella Group
TEAM Safety Services Limited, a leading UK-based health, safety and fire safety consultancy, has been acquired by Vadella Group, a specialist provider of inspection-led compliance services for the built environment.
Learn moreBrand Group has acquired The Natoon Group
The Natoon Group has been acquired by Brand Group. This acquisition represents a significant strategic move that will help establish new, robust and stable growth channels. The transaction is intended to expand Brand Group’s revenues through service companies with recurring and predictable income streams supported by long-term contracts. As part of the agreement, Natoon’s senior management will continue to lead the company’s growth.
Learn moreFairfest Media has acquired WTE Miami
Fairfest Media, organizer of OTM, the leading travel show in Asia, has acquired WTE Miami, the fastest-growing travel trade show in the USA. The acquisition marks a significant milestone in Fairfest’s global expansion, strengthening its presence in the Americas and beyond by leveraging decades of experience and leadership in Asia and India.
Learn more