The US subsidiary of Lasalle, Quebec-based GDI Integrated Facility Services has acquired BPAC Group, a New York-based provider of mechanical services. No financial terms were disclosed. GDI, a commercial facility services business, earlier in 2020 secured an extended investment from its backer Birch Hill Equity Partners Management.
LASALLE, QC, Jan. 6, 2021 /CNW Telbec/ – GDI Integrated Facility Services Inc. (TSX: GDI) (the “Company” or “GDI”) is pleased to announce that its U.S. subsidiary, Ainsworth Inc. (“Ainsworth”), has concluded the acquisition of The BPAC Group, Inc. (“BP”) effective January 1, 2021.
Founded in 1978, BP is one of the largest and most respected mechanical services providers in New York State, providing both retrofit and renovation services and a strong service call platform principally to the commercial sector, including many of the most recognized Class A office properties in New York City. With close to 200 employees, BP generated approximately USD$110 million in annual revenue in its most recent fiscal year.
“BP represents Ainsworth’s first strategic acquisition in the U.S. market,” stated Claude Bigras, President & CEO of GDI. “BP is a very strong business with an experienced management team and an excellent reputation in the industry. In addition to strengthening Ainsworth’s existing U.S. operations, BP positions Ainsworth to expand its footprint into new markets in the United States both organically and through acquisition. John (Jack) Fanneron, President of BP and Steven Heiderstadt, President of BP’s mechanical division, are seasoned operators who will assume leadership roles in Ainsworth’s U.S. operations. I would like to welcome Jack, Steven and the entire BP team to the Ainsworth and GDI family,” concluded Mr. Bigras.
“We are very excited about joining with Ainsworth,” stated John (Jack) Fanneron, President of BP. “We have grown BP into one of the premiere providers of mechanical services in New York, and partnering with Ainsworth and GDI represents the next step in BP’s strategic evolution. The entire team at BP is looking forward to the growth opportunities available from being part of the Ainsworth and GDI family.”
GDI is a leading commercial facility services provider which offers a range of services in Canada and the United States to owners and managers of a variety of facility types including office buildings, hotels, shopping centres, industrial facilities, healthcare establishments, distribution facilities, airports and other transportation facilities. GDI’s commercial facility services capabilities include commercial janitorial, installation, maintenance and repair of HVAC-R, mechanical and electrical systems, as well as other complementary services such as damage restoration and janitorial products manufacturing and distribution. GDI’s subordinate voting shares are listed on the Toronto Stock Exchange (TSX: GDI). Additional information on GDI can be found on its website at www.gdi.com.