Terminus Capital Partners acquires majority stake in PickTrace

Founded by brothers Austin and Harrison Steed, PickTrace originated from firsthand experience on their family’s Southern California fruit farms. The company has since evolved from simple workforce management into a broad digital infrastructure provider, handling everything from payroll and onboarding to logistics and field quality control. By automating manual processes, the platform provides growers with real-time data to manage the complexities of seasonal labor and strict compliance requirements.

Alex Western, Managing Director at Terminus Capital Partners, identified the company as a critical vendor due to its role as a primary system of record for proprietary labor and wage data. Under the new ownership, PickTrace plans to accelerate product development and expand its market reach. CEO Damon Valenzona confirmed that the firm will maintain its focus on high-touch customer support while leveraging the private equity firm’s resources to bolster its internal teams and infrastructure. Moelis and Software Equity Group served as financial advisors for the deal, with JonesSpross and Holland & Knight acting as legal counsel.