Progressive Solutions finds strategic suitor

Since 2002 when the company was formed, Progressive Solutions, LLC, had grown significantly. By 2011 the major shareholders knew that the company needed a larger, strategic partner to continue increasing its sales and profitability. Progressive Solutions had become a leader in herbicide-related vegetation management services, treating some 220,000 acres annually in 23 states. In addition, Progressive operated a chemical distribution. Company executives received an offer to be acquired, but Capital Alliance was able to increase the initial offer by roughly 75 percent. When the firm was acquired by Asplundh Tree Expert Co., one of the world’s largest vegetation management companies, the selling shareholders received substantial cash payments, as well as favorable employment and earn-out agreements.