Atlantic Street Capital has made an investment in Texas-based ACIS, a commercial facility services provider. No financial terms were disclosed. Citizens M&A Advisory acted as financial advisor to ACIS on the deal.
NEW YORK, December 22, 2021 – Atlantic Street Capital (“ASC” and “Atlantic Street”), a private equity firm targeting entrepreneurial businesses poised for the next level of growth, today announced its latest platform investment in Fund IV, ACIS. ACIS is one of the largest and fastest growing commercial facility services providers in the state of Texas. Founded in 2002, ACIS is a trusted outsourced partner for its customers, providing preventative maintenance, on-call services, and scheduled repairs on essential mechanical controls including building automation, HVAC, and plumbing systems. The company’s customer-centric operating model and strong employee culture drive superior levels of service for its commercial and industrial customers. For more information, visit https://acisinc.com/.
Phil Druce, Partner of ASC said, “We have had an active thesis in commercial facility services for over a year and knew as soon as we met Mike Nichols, co-founder and Chief Executive Officer of ACIS, that he had created something special and that we could help unlock his goals and ambitions to build a world-class, service-first organization. In particular, Mike’s understanding of corporate culture, best-in-class technician recruitment, the senior team that he has assembled, and their personal humility give us the ultimate confidence in our new partnership.”
Johnny Conklin, Partner of ASC said, “We are excited to begin working with Mike to invest more deeply in sales force infrastructure, build on and enhance the Company’s data-centric decision-making processes and ultimately broaden the company’s geographic footprint. In addition to the organic investment in talent and functional depth, we also expect to partner with other like-minded service providers to meaningfully expand our geographic reach and enhance our service offerings.”
Mike Nichols commented, “Our business and culture was founded by technicians, for technicians. From our founding, we aimed to create a team environment that is collaborative and high-energy. By establishing a great place to work, professional development and career paths, it ensures we have the talent to succeed and underscores a culture where we all like to win, grow and have fun. In partnering with Atlantic Street, we are getting a partner that understands all aspects of our business but also brings an operational horsepower through their operating advisor team that will allow us to build a better business. Most importantly, their willingness to roll up their own sleeves to work alongside us in the trenches gave me great confidence that they were the right partner for us. We are proud of what we have built, but we know our best days are way ahead of us.”
Citizens M&A Advisory acted as financial advisor and Faegre Drinker acted as legal advisor to ACIS and their affiliates. Bank of Montreal provided credit support and Kramer Levin acted as legal advisor to Atlantic Street.
About Atlantic Street Capital
ASC is a private equity firm that invests in lower middle market companies poised for the next level of growth. The firm targets entrepreneurial management partners and fundamentally sound companies between $4 million and $25 million of EBITDA that will benefit from capital investment and ASC’s value-added strategic and operational support. As a result, ASC works closely with management to unlock their business’ underlying value and help them succeed. For more information, visit www.atlanticstreetcapital.com.