Promus Capital Management Completes Acquisition of Tersus Solutions

Acquisition Positions Tersus to Accelerate Growth Across Recommerce, Fire PPE, and Down Recycling End Markets

CHICAGO–(BUSINESS WIRE)–Promus Capital Management, LLC (“Promus Capital Management”), a Chicago-based investment firm, is pleased to announce the acquisition of Tersus Solutions, LLC (“Tersus” or the “Company”), a leading provider of proprietary liquid CO₂-based, waterless cleaning, recommerce, and repair solutions. This marks the third platform acquisition on the Promus Access platform in the last twelve months and deepens our experience in partnering with founder-owned businesses and management teams.

Founded in 2009 and headquartered in Englewood, Colorado, Tersus has built a business and created value-added services around its patented, closed-loop liquid CO₂ cleaning technology. This cutting-edge, waterless process delivers superior cleaning, minimizes garment degradation, captures microplastics and harmful toxins, and reduces energy and water usage by two-thirds compared to traditional water-based cleaning methods.

Tersus currently operates across three go-to-market segments:

• Recommerce: Enables many of the world’s leading premium apparel and footwear brands to unlock value from returned, refurbished, and end-of-life products by providing a full suite of recommerce services from sorting and cleaning to repair, upcycling, listing, and fulfillment. These capabilities help brands extend product life, offer high-quality resale through brand-owned recommerce channels, and monetize inventory that would otherwise be written off.
• Fire PPE: Provides CO₂-based cleaning solutions for fire PPE manufacturers, departments, and independent service providers. Tersus delivers a critical industry solution that excels at removing carcinogenic contaminants while reducing turnaround times and extending gear life. External laboratory testing shows that Tersus’ CO₂ cleaning technology removes up to 98% of harmful compounds tested, compared to a 56% removal rate achieved through traditional water-based cleaning methods¹.
• Down Recycling: Partners with external vendors and the Tersus portfolio of recommerce brands to collect and process down from end-of-life garments and bedding. Tersus’ CO₂ cleaning technology is used to clean and sanitize Global Recycled Standard (GRS)-certified down, enabling manufacturing partners to create new, high-quality products using recycled insulation.

“This partnership represents a major milestone for Tersus and the industries we support,” said Peter Whitcomb, CEO of Tersus Solutions. “Tersus is at an important inflection point, and we are excited to partner with Promus to scale our technology and platform of services, enhance our environmental impact, and help our customers unlock additional value from existing products. We believe Promus’ strategic insight, long-term orientation, and commitment to integrity make them the right partner for Tersus as we enter this next chapter.”

“Tersus exemplifies the type of mission-driven company we are proud to back through the Promus Access platform,” said Andy Code, Investment Committee Member for Promus Capital Management’s Promus Access strategy. “We look for businesses where strong leadership, a values-driven culture, and a clear long-term vision create the foundation for enduring success. We are excited to partner with Peter and the Tersus team as long-term stewards of the business and support them in building a market-leading platform.”

“Tersus has built a highly differentiated platform at the intersection of sustainability, recommerce, and mission-critical PPE services,” said Taylor Teague, Principal at Promus Capital Management. “The Company’s patented CO₂ technology and strong customer relationships position it as a category leader. Peter has led the business through a period of significant growth and established Tersus as a value-add partner to many leading global brands. We are excited to welcome Tersus as the third direct investment in our flagship fund, Promus Access V, and to partner with Peter and the Tersus team to support the next phase of growth.”

Following the acquisition, Promus Capital Management will work closely with Tersus to support continued growth through targeted investment in additional CO₂ machines and capacity, expanded commercial and customer acquisition efforts, strategic team expansion, and increased market awareness of the Company’s differentiated technology.

Reinhart Boerner Van Deuren s.c. served as legal counsel to Promus Capital Management.

1. Cleaning efficacy claims supported by studies performed by UL Solutions, California Energy Commission, Department of the Navy, Centexbel, MEDUCOMP GmbH, and the NC State Textile Protection and Comfort Center (TPACC)

About Tersus

Founded in 2009, Tersus Solutions is a Denver-based company committed to revolutionizing textile care and circularity with its patented liquid CO₂ technology–the most advanced and environmentally friendly cleaning available. In 2021, Tersus Solutions received Fast Company’s Most Innovative Company Award for its dedication to extending textile life and preserving the environment. As the backbone of recommerce, Tersus partners with leading outdoor, athletic, luxury, and footwear brands to provide full-suite textile reclamation, repair, upcycling, recycling, and logistics solutions. Tersus also sets a new standard in PPE care, utilizing its CO₂ cleaning process to offer unmatched care for firefighter gear, far exceeding the carcinogen removal rate of traditional cleaning methods for safer, more comfortable gear. Additionally, Tersus reclaims and recycles down from apparel, bedding, and gear, extending the life of valuable materials and reducing waste.

Learn more at www.tersussolutions.com

About Promus Capital Management

Promus Capital Management, LLC (“Promus Capital Management”) is a Chicago-based investment firm specializing in private equity and real estate strategies for qualified investors, family offices, and institutions. Building on decades of experience and more than $1.5 billion in assets under management (as of 6.30.2025), the firm continues to provide access to differentiated private market opportunities through its Promus Access and Promus Realty strategies. Promus Capital Management is a wholly owned subsidiary of Waverly Advisors, LLC, an investment adviser with approximately $29.9 billion in assets under management (as of 12.05.2025).

Learn more at www.promuscapital.com

Contacts

Alex Cohen

Principal – Capital Formation

alex.cohen@promuscapital.com