Praesidian Capital has invested $9 million of senior notes and warrants in Support Services of America, a provider of janitorial and facilities maintenance services.
Support Services of America (SSA) provides daily custodial and janitorial services, building maintenance, and healthcare environmental services to Fortune 1000, healthcare, retail, business, and federal entities in 7,000+ locations across 50 states totaling over 50 million square feet. SSA is certified by LEED and holds a DOD Secret Facility Clearance and JCAHO Compliance. The company was founded in 1996 by CEO Alex Fortunati and is based in Norwalk, CA (www.supportservicesamerica.com).
FocalPoint aserved as SSA’s exclusive financial advisor on the transaction. “SSA has demonstrated impressive, industry-leading growth over the past decade. The closing of the balance sheet recapitalization by Praesidian will position the company well to continue its robust organic growth and acquisition strategy,” said Nishen Radia, Managing Director and Co-founder of FocalPoint.
FocalPoint is an investment bank specializing in mergers and acquisitions, private placements (both debt and equity), financial restructurings and distressed transactions. The firm is based in Los Angeles with an office in Chicago (www.focalpointllc.com).
Praesidian Capital provides mezzanine capital to small and mid-sized businesses. Praesidian typically invests in connection with a management/leveraged buyout, recapitalization or refinancing. The firm manages over $700 million in committed capital and is based in New York, NY (www.praesidian.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 9-13-12
