Warburg Pincus has acquired a majority stake in FacilitySource. Financial terms weren’t disclosed. Columbus-based FacilitySource provides facility maintenance and management solutions to retailers and other multi-site operators.
FacilitySource, a leading global provider of facility maintenance and management solutions to retailers and other multi-site operators, today announced that Warburg Pincus, a leading global private equity firm focused on growth investing, has acquired majority ownership in FacilitySource. Terms of the transaction were not disclosed.
FacilitySource manages over 60,000 facilities worldwide via an elite service provider network, representing over $1 billion in aggregated spend each year. The company has grown rapidly since taking its solution to market in 2005, averaging 25-30% growth in each year. FacilitySource is poised to accelerate this growth with the backing of Warburg Pincus.
“FacilitySource provides a unique value proposition to its customers and continues to innovate in the vast and fragmented global facility maintenance market,” said Alex Berzofsky, Managing Director, Warburg Pincus. “We are excited to partner with Bill and his management team and to support the Company’s impressive growth trajectory.”
FacilitySource CEO Bill Hayden said, “We see the partnership with Warburg Pincus as an opportunity to build a very unique platform in a space that today does not have many good options from the perspective of our target client base. The strong investment from Warburg Pincus enables FacilitySource to grow the company, both organically and via strategic acquisition, and to expand the scope of services provided to our clients.”
Founded in 2001, FacilitySource is known for its holistic approach to facility maintenance management and process optimization in a wide range of business sectors, which include retailers, shopping centers, restaurants, auto parts stores and other companies with geographically disperse real estate portfolios. With over 60,000 locations served and a vendor database of over 15,000 vendors, FacilitySource provides retail maintenance, web-based transaction management software, vendor management and research, 24/7/365 service centers, statistical analysis and reporting, and paperless invoice management. FacilitySource manages millions of facilities maintenance work orders annually as well as over $1 billion in annual repair and maintenance expenses. Headquartered in Columbus, Ohio, FacilitySource also manages its operations in Phoenix, AZ, Chester, England, and Madrid, Spain, and provides service in other countries including China and Japan. For more information, visit www.facilitysource.com.
About Warburg Pincus
Warburg Pincus is a leading global private equity firm. The firm has more than $30 billion in assets under management. Its active portfolio of more than 125 companies is highly diversified by stage, sector and geography. Warburg Pincus is a growth investor and an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 13 private equity funds which have invested more than $40 billion in over 650 companies in more than 30 countries.
Since inception, the firm has invested more than $13.5 billion in technology, media and tech-enabled services companies, including investments in BEA Systems, Bharti Airtel, Coyote Logistics, Endurance International Group, FIS, iParadigms Holdings LLC, NeuStar, New Breed, Nuance, RDA Microelectronics Inc., UGS Capital Corp., and VERITAS Software. The firm is headquartered in New York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London, Luxembourg, Mauritius, Mumbai, San Francisco, Sao Paulo and Shanghai. For more information, please visit www.warburgpincus.com.