The Tendit Group, a Denver-based one-stop shop for multiple commercial building services in Colorado, Utah and Arizona, is closing its doors and laying off its remaining employees.
The company informed the Colorado Department of Labor and Employment on Monday that it will cease operations at its facilities and let go of its remaining 107 workers in Colorado and 36 in Arizona by the end of the month.
“Despite substantial efforts on the part of management, The Tendit Group LLC, is unable to turn a profit,” Ray Byrd, the company’s chief operating officer, informed the state in a letter filed under the Worker Adjustment and Retraining Notification Act or WARN.
The company is a portfolio holding of Osceola Capital, a private equity firm based in Tampa that specializes in taking a platform company and acquiring or rolling up smaller competitors.
In 2019, Osceola recapitalized Loveland-based Top Gun Pressure Washing, using it as the platform for future acquisitions that would become The Tendit Group. The goal was to become a single source provider for property managers for services like landscaping, paving and striping, power washing, window cleaning and snow removal.
Among the Colorado companies acquired were Bob Popp Building Services, CAM Services, Emerald Isle Landscaping and American Striping. Tendit also acquired firms in Arizona and Utah.
Most of the various holdings continued to operate under their established brands but were put under In September of that year, the Denver Business Journal recognized The Tendit Group as one of Denver’s 50 fastest-growing private companies.
The company’s website lists 400-plus employees, which is more than the 143 that remain as the company prepares to cease operations.
Some of the portfolio companies, like Bob Popp Building Services, have been sold, but others have remained under The Tendit Group.
In a separate layoff, T-Mobile USA, the cellular company, said on Friday it would let go of 51 workers from its business sales support team at 990 S. Broadway in Denver, starting on June 8. The office, however, will remain open.
