August 01, 2019 | | Industry News
Oceanside, CA, August 1, 2019 - Kellermeyer Bergensons Services, LLC (KBS), a leading North American provider of technology-enabled, integrated facility management services to the industrial, commercial, logistics, retail, and grocery sectors, today announced its acquisition of PE Facility Solutions, LLC (“Pristine”), a provider of facility management, contract cleaning and related services. KBS is a portfolio company of San Francisco-based private investment firm GI Partners. Pristine is owned by Massachusetts-based Great Elm Capital Corp.
Mark Minasian, Chief Executive Officer and Co-Founder of KBS stated, “Pristine is an outstanding asset and its integration into the KBS platform is an important step toward advancing our expansion into targeted end markets and services. We look forward to partnering with the Pristine leadership team, a group of top tier industry professionals who share our values and commitment to their people and customers. Combined with KBS, Pristine’s team and customers will benefit from our unmatched technology, world class service infrastructure and continental scale.”
Hoon Cho, Managing Director at GI Partners stated, “Pristine is the seventh acquisition the KBS team has made during our partnership together, once again demonstrating that KBS is the buyer of choice for middle market facility service firms seeking liquidity, scale or partnership opportunities. We congratulate and welcome the Pristine team to KBS and are excited about the benefits that come to both organizations through this acquisition.”
Fergus O’Connell, Pristine’s Chief Financial Officer stated “We had the opportunity to get to know Mark and the KBS team during the process and were impressed by the clarity of their direction, command of the industry drivers and their intense customer focus. We are very excited to be combining our resources with KBS.” Mr. O’Connell, formerly of ISS UK and North America, will lead the Pristine integration and serve as Executive Vice President for Business Development at KBS going forward.
Added John Ehlinger, a Managing Director at Great Elm Capital Management, the investment manager of Great Elm Capital Corp., “We are pleased to have partnered with Mr. O’Connell, Shaun Gordon, Jennifer Mintman and, the rest of the PEFS management team, to successfully monetize the largest position related to the legacy Full Circle portfolio. Utilizing our balance sheet and hands-on approach, the Great Elm team worked closely with PEFS to help grow the business and ultimately position it for sale to a well-respected operator like KBS.”
Kellermeyer Bergensons Services, LLC (KBS) is a leading North American provider of technology-enabled, integrated facility management services to the industrial, commercial, logistics, retail, and grocery sectors. With more than 51,000 active customer locations in all 50 U.S. states, Canada, and Puerto Rico, KBS sets the industry standard for delivering consistently high quality, compliant and cost-effective facility service solutions. Based in Oceanside, Calif., the company is majority owned by GI Partners. For more information on Kellermeyer Bergensons Services, please visit www.kbs-services.com/.
About GI Partners
GI Partners is a private investment firm based in San Francisco. The firm has raised $17 billion in capital from leading institutional investors across the globe. GI Partners’ private equity team focuses on investments in the IT Infrastructure, Healthcare, Software, and Services sectors. For more information on GI Partners, please visit www.gipartners.com.
About PE Facility Services
PE Facility Services (Pristine Environments) manages, maintains and optimizes the performance of mission critical facilities for industrial, institutional corporate real estate owners in nearly 150 million square feet of specialized buildings throughout North America. From life sciences, aerospace, datacenters, oil + gas, telecom, health and wellness, and commercial real estate, our team of nearly 900 professionals keeps these industries buildings and facilities operating efficiently, sustainably and on budget. www.pristine-environments.com.
About Great Elm Capital Corp.
Great Elm Capital Corp. is an externally-managed business development company that invests in the debt instruments of middle market companies with enterprise values typically between $100 million and $2 billion and a focus on special situations and catalyst-driven opportunities. Its stock is traded on NASDAQ under the ticker symbol “GECC”. For more information on GECC, please visit www.greatelmcc.com.
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