Canadian private equity firm Westbridge Capital has acquired Cartersville, Georgia-based Scopes Facility Services, a floor care and landscaping provider. No financial terms were disclosed. Financing for the deal came from a Westbridge mezzanine debt fund.
NEW HAVEN, Conn., April 02, 2020 (GLOBE NEWSWIRE) — Woodbridge International, a global mergers and acquisitions firm, is pleased to announce the acquisition of its client, Scopes Facility Services LLC (Scopes) by Westbridge Capital Ltd. (Westbridge).
Scopes, located in Cartersville, Georgia, is a premier floor care and landscaping provider. Scopes operates in multiple states, providing commercial services to over 7,500 retail locations on behalf of two of the largest retail chains in the United States.
Former Chief Executive Officer and newly appointed board member Jason Thomas said, “It has been a great honor to have served as CEO and help build Scopes into a premier facility services company. I’m looking forward to a partnership with Westbridge on the board of Directors, and continuing my 20-year working relationship with Kevin Williams as he leads Scopes on this exciting path to the future.”
Michael Meekins, President of Westbridge, said, “Scopes fits our acquisition criteria perfectly – 27 years of continuous, profitable operations is an enviable track record, we intend on working with Kevin Williams as incoming CEO to build on this record of success.” Meekins continues, “We are also very happy to have Jason Thomas continue as a partner with us and contribute his immense knowledge through his participation on the Scopes board of directors.”
Westbridge Capital Ltd, located in Saskatoon, Canada is a private equity management company that acquires mature operating businesses. The unique Westbridge model allows for liquidity to an underserved market, benefiting both owners and management.
Financing for the acquisition was arranged by Westbridge Capital Partners Income Trust, a mezzanine debt fund managed by Westbridge Capital Ltd.
About Scopes Facility Services, Inc.
A premier floor cleaning and landscaping provider with proprietary enterprise software. Over 27 years of operations, the business has never lost a single customer location.
About Westbridge Capital Ltd.
Westbridge is a private equity management company. Westbridge focuses on real estate and private equity investments that by their nature have little correlation to publicly listed securities and may be used to diversify a portfolio and reduce overall portfolio risk and volatility.
About Westbridge Capital Partners Income Trust
Westbridge Capital Partners Income Trust is a Canadian domiciled Mutual Fund Trust managed by Westbridge Capital Ltd. The Fund makes high yield loans to mature operating companies and distributes the associated income stream to investors.
About Woodbridge International
Woodbridge International’s ground-breaking approach to marketing a company globally has transformed the way the sell-side M&A industry does business.