ValleyCrest Buys in Florida

ValleyCrest Companies, the nation's largest privately held landscape services firm, announced today that it has acquired The Impact Group, a landscape maintenance company headquartered in Delray Beach, Fla. ValleyCrest said it hopes the union will leverage the experience, relationships and resources of the two organizations to increase market leadership in South Florida. Financial terms of the deal were not disclosed.

The acquisition of The Impact Group strengthens ValleyCrest's existing Southeast Florida operations and landscape services capabilities in Dade, Broward and Palm Beach counties. "We share a common commitment to responsive customer service and a similar approach to delivering quality landscape maintenance," said Richard Sperber, president, ValleyCrest Companies. "As a national company, we bring technical expertise, resources and depth of experience to an already outstanding organization."

Co-founded by Ray Keenan, in 1990, The Impact Group has particular expertise in developing landscape maintenance solutions for a broad range of commercial customers including property management companies, office parks, and homeowners' associations.

Under terms of the agreement, The Impact Group will operate as ValleyCrest Landscape Maintenance. Keenan and Impact Group Vice President, Bob DeFrain, will assume responsibility as ValleyCrest Vice Presidents and oversee the company's landscape maintenance operations in Delray Beach, Miami, Ft. Lauderdale and West Palm Beach. "Although the landscape maintenance industry is still fragmented, following the roll-up activities of the late 1990s, we believe the opportunities for strategic acquisitions remains strong," added Sperber.