BHMS Investments has acquired Advanced Service Solutions, a provider of facilities maintenance services.
Advanced Service Solutions provides interior and exterior services including landscaping, snow removal, parking lot maintenance, janitorial services, HVAC, plumbing, commercial fit-outs and restaurant equipment maintenance. The company serves commercial businesses in 47 states with a large presence in Pennsylvania, New York and New Jersey. Advanced Service Solutions was founded in 2007 and is headquartered near Philadelphia in Hammonton, NJ (www.4advancedservices.com).
The senior management team will continue to be significant shareholders of the company in partnership with BHMS. “We are proud to partner with BHMS to help us continue to build a large, first-class facilities maintenance company,” said Advanced Founder and CEO Jeff Tunis. “Advanced has demonstrated dynamic growth over the last decade, and we believe our partnership with BHMS will help the company reach the next level as well as provide us with the capital needed to expand.”
BHMS makes control investments in North American-based lower middle market companies across a range of industries. The firm’s transaction types include acquiring companies in financial distress to conventional leveraged buyouts. BHMS was founded in 2010 by its managing partners Kevin Angelis and Robert Salamon and is headquartered in New York (www.bhmsinvestments.com).
“Advanced is a premier player in a large and fragmented industry, and the company’s scale, dynamic organic growth, first-class employee base and Jeff’s expertise and leadership fit our mandate perfectly,” said Mr. Angelis. “We are excited about investing alongside Jeff and his team and we look forward to a rewarding partnership.”
Generational Equity (www.genequityco.com) was the financial advisor to Advanced Service Solutions. The Generational Equity team was led by Managing Director Terry Mackin and Senior Managing Director Thomas Hamm. “Throughout the marketing process, our client remained focused on what he felt he needed in an acquiring partner,” said Mr. Mackin. “From first introduction to closing, the BHMS team set the professional tone for what we all believe will be a very successful partnership.”
© 2018 Private Equity Professional | January 19, 2018
