By ET Bureau - November 04, 2019 2 Mins Read
Cerberus Capital Management, L.P. (“Cerberus”), a global leader in alternative investing, announced that one of its affiliates has entered into a definitive agreement to acquire Kellermeyer Bergensons Services, LLC (“KBS” or the “Company”) from affiliates of GI Partners.
Headquartered in Oceanside, California, KBS is a leading provider of technology-enabled, integrated facility management services to customers across North America. With its differentiated technology and comprehensive suite of facility services, the Company delivers high-quality and cost-effective solutions to customers in the industrial, commercial, logistics, retail, and grocery sectors.
“This is an exciting opportunity to partner with a market-leading business supported by a tech-enabled platform,” said Robert Warden, Co-Head of Private Equity and Senior Managing Director at Cerberus. “With its full suite of solutions and leading technological capabilities, KBS has become the partner of choice for customers in the facility services industry. We believe there are attractive opportunities ahead for the Company and look forward to working alongside Mark and the talented KBS team to further build on its success.”
Mark Minasian, Chief Executive Officer of KBS, commented, “We thank GI Partners for supporting the expansion of our business over the past five years. As we enter the next phase of our evolution, we are very excited to be partnering with Cerberus. Their global scale, deep expertise in services, and unmatched operating resources will position KBS better than ever to continue to lead commercially, creating opportunity and value for years to come. Importantly, we will remain unwavering in our focus on delivering high-quality solutions and services to our customers.”
Hoon Cho, Managing Director at GI Partners, said, “We are extremely gratified by the success of KBS during our five-year ownership and working with Mark and the KBS management team to build a leading platform serving a number of growing industries. Leveraging our experience from investments in the technology and facilities management sector, we were able to align with management to create a company with greater scale, enhanced capabilities, and immense future potential.”
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