Progressive Solutions, LLC has been acquired by Asplundh Tree Expert Co.
February 2011 — 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.
Our role in the transaction
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
Nymann Kloak- & Miljøservice has been acquired by Serwent Group
Nymann Kloak- & Miljøservice has been acquired by Serwent Group. The acquisition expands Serwent’s footprint in Denmark while broadening its service offering and strengthening capacity across its existing platform. This transaction further supports Serwent’s ambition to become the leading Nordic operator in underground infrastructure maintenance.
Learn moreDIGMATIX has entered the Czech market through the acquisition of LLP CRM
DIGMATIX has acquired LLP CRM, a Czech Microsoft Dynamics 365 Customer Engagement specialist. The acquisition marks DIGMATIX’s entry into the Czech market and strengthens the group’s capabilities in customer relationship management (CRM), sales automation, customer service and AI-powered business solutions.
Learn moreDIGMATIX has entered Romania through the acquisition of Elian Solutions
DIGMATIX, one of the largest providers of Microsoft Business Applications solutions in the region, has acquired Elian Solutions, a Romanian Microsoft Dynamics 365 partner, together with its subsidiary Elian Development Systems. Through the acquisition, DIGMATIX expands its operations into Romania and strengthens its position as a regional leader in the implementation and development of Microsoft Business Applications solutions. The acquisition was financed by an investment from DIGMATIX’s majority shareholder, Baltic private equity fund Livonia Partners, together with financing provided by SEB Bank.
Learn more