Kellermeyer Bergensons Services LLC, which is backed by GI Partners, has acquired Salt Lake City-based Varsity Facility Services, a facilities services provider. No financial terms were disclosed.
OCEANSIDE, Calif., Aug. 17, 2017 /PRNewswire/ — Kellermeyer Bergensons Services, LLC (KBS), the largest provider of technology-enabled, integrated interior and exterior property services to retailers, grocers, and multi-site customers in North America, announced that it has purchased Varsity Facility Services, a leading facility services provider in the United States and Canada. Varsity will join KBS as an operating division and will continue to utilize the Varsity brand.
Mark Minasian, Chief Executive Officer of KBS stated, “Varsity is an iconic service brand in North America and we are very pleased to warmly welcome Eric Luke and his team into the KBS platform. We want to thank and pay respect to Varsity Founder Don Aslett and Chairman Arlo Luke, who are pioneers in our industry and whose vision and character were fundamental in shaping Varsity’s unique service culture.” Minasian continued, “This acquisition marks an important milestone as we continue to execute on our technology-enabled growth strategy, expanding our service and enhancing our sector diversification. The combined company now delivers service to more than 41,000 locations in North America. We intend to leverage our enhanced scale, end market exposure and proprietary technology platform to further accelerate value creation, while delivering best-in-class outcomes for our customers, people and sponsors.”
Varsity primarily serves the institutional, education, healthcare, distribution, corporate campus and government markets and continues KBS’s strategy to serve multi-site customers across end markets. KBS and Varsity offer integrated maintenance services allowing customers the option to bundle a combination of services or to select single services.
Eric Luke, Chief Executive Officer and President of Varsity Facility Services said, “KBS and Varsity have long histories in the facilities services industry and we’ve both enjoyed long-tenured relationships with our customers. We at Varsity are enthusiastic about becoming part of KBS and leveraging its proprietary labor management and service delivery technology to drive additional efficiency and be even more responsive to customers.”
Hoon Cho, Managing Director at GI Partners said, “The acquisition of Varsity aligns with the strategic plan we underwrote when we partnered with KBS in 2014. The foundation of the plan was to build a best-in-class technology platform that would further differentiate KBS in the marketplace and allow it to provide the most efficient and highest quality service to customers, leading to transformation of the facilities services space. To that end, KBS has developed an impressive technology-enabled facilities services platform and has distanced itself from the competition, setting the standard for modern service delivery for customers in multiple end markets while simultaneously becoming the buyer of choice for sellers of high quality facilities services companies across end markets and service offerings. This is the second acquisition by KBS this year with a robust pipeline of additional opportunities to follow. We congratulate Mark and the KBS team on the acquisition and welcome the Varsity team to KBS.”
KBS’s core services are interior and exterior contract cleaning, facilities repair and maintenance, landscape management, and parking lot maintenance. Varsity’s core services are contract cleaning, building maintenance, and construction management.
About Varsity Facility Services
Varsity Facility Services is an industry leading provider of janitorial, maintenance, and construction services spanning the United States and Canada. Founded in 1957 on integrity, excellence and innovation, Varsity has built a sound foundation of service for its customers. The company was the first building service contractor to be certified by the ISSA (The Worldwide Cleaning Industry Association) Cleaning Industry Management Standard (CIMS) and received the certification with honors. Additionally, Varsity demonstrates its commitment to the environment through green cleaning programs and the construction of their own LEED Platinum facility. Varsity’s subsidiary, System 1 is a minority owned company spanning several states. Varsity is based in Salt Lake City, Utah. For more information on Varsity, please visit www.varsityfs.com.
About Kellermeyer Bergensons Services
Kellermeyer Bergensons Services, LLC (KBS) is North America’s largest provider of technology-enabled, mission critical interior and exterior property service solutions to the off price, discount, dollar, drug, grocery, health/fitness, home improvement, department and specialty retail categories. The firm also operates in the education, healthcare, commercial, industrial and banking sectors. With more than 20,000 active customer sites in all 50 U.S. states, Canada, and Puerto Rico, KBS sets the industry standard for delivering consistently high quality, compliant and cost effective service solutions. KBS was established in 2011 after the merger of Kellermeyer Building Services L.L.C., which was founded in 1967, and Bergensons Property Services Inc., founded in 1984. The company is based in Oceanside, Calif. and is majority owned by GI Partners. For more information on KBS, please visit www.kbs-services.com.
About GI Partners
GI Partners is a leading private investment firm based in San Francisco. The firm has raised over $16 billion in capital through private equity and real estate strategies from recognized institutional investors across the globe. GI Partners’ private equity team is active in a number of key sectors, including IT Infrastructure, Healthcare, Software, and Services. For more information on GI Partners and its entire portfolio, please visit www.gipartners.com.