PE Deals

OMERS Private Equity to buy restoration company Knight Commercial

Knight Commercial’s co-founders Adam McKelvey and Peter Tredennick will remain significant shareholders of the company.

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  • Founded in 2001, Knight Commercial serves a broad set of commercial customers across industrial, multifamily, office, hospitality and government end markets
  • The transaction is expected to close in September 2023
  • TD, Citizens, and SMBC provided financing for the deal

OMERS Private Equity has agreed to acquire a majority stake in Knight Commercial, a Dallas-based provider of mitigation, reconstruction and restoration services to commercial property owners and asset managers. No financial terms were disclosed.

Knight Commercial’s co-founders Adam McKelvey and Peter Tredennick will remain significant shareholders of the company. The transaction is expected to close in September 2023.

Founded in 2001, Knight Commercial serves a broad set of commercial customers across industrial, multifamily, office, hospitality and government end markets. It provides services throughout the US with 12 locations.

“Adam, Peter and the entire leadership team have done an incredible job of building Knight Commercial into the industry leader it is today,” said Eric Haley, head of North America, OMERS Private Equity in a statement. “Since the onset of our relationship, we have been impressed by the team’s unwavering commitment to its customers and to service excellence. We look forward to partnering with the entire team at Knight Commercial to further accelerate the Company’s growth, leveraging the broader network of OMERS people, assets and capital.”

OMERS Private Equity manages investments globally on behalf of OMERS, one of Canada’s largest defined benefit pension plans, with C$124.2 billion in net assets as of December 31, 2022. This includes about C$23.2 billion in net private equity investment asset exposure.

Akin Gump Strauss Hauer & Feld acted as legal counsel and Stephens acted as financial advisor for Knight Commercial. Cravath, Swaine & Moore and Weil, Gotshal & Manges acted as legal counsel and Harris Williams served as financial advisor for OMERS Private Equity. TD, Citizens, and SMBC provided financing for the deal.