GI Partners has completed its previously announced acquisition of Kellermeyer Bergensons Services, a provider of facilities management services to retail and grocery chains, from Kohlberg & Company. GI’s investment was made through GI Partners’ $2 billion fourth fund.
Kellermeyer Bergensons Services (KBS) was established in 2011 after the merger of Kellermeyer Building Services, which was founded in 1967, and Bergensons Property Services, founded in 1984. The company’s services include contract cleaning, porter services, parking lot maintenance, snow removal, landscaping, general repairs, and other trade and technical services. The company serves the retail and grocery markets as well as education and healthcare. KBS has over 300 customers in over 15,000 customer locations in the United States, Canada, and Puerto Rico. The company has approximately 11,000 direct employees and also has a network of affiliated contractors. KBS has headquarters in Oceanside, CA and Maumee, OH (www.kbs-clean.com).
GI Partners has previous experience in the facilities management services sector through its investment in The Linc Group, a provider of infrastructure and maintenance services, which was acquired by ABM Industries in 2010. GI Partners invests from $50 million to $250 million in companies with enterprise values of $100 million to $750 million. Sectors of interest include IT infrastructure & services; healthcare services; leisure & retail; and financial & real estate services. Since founding, GI has managed $10 billion across four private equity funds and invested in 38 platform investments. GI Partners is based in Menlo Park (www.gipartners.com).
Financing for the transaction is being provided by BNP Paribas and CIT. Robert W Baird & Co. acted as financial advisor, and Paul, Weiss, Rifkind, Wharton & Garrison served as legal counsel for Kellermeyer Bergensons. Paul Hastings served as legal counsel for GI Partners.
2014 PEPD • Private Equity’s Leading News Magazine • 11-4-14
