Partners Group, a global private markets firm, and Kohlberg & Co, a New York-based investment firm, have jointly acquired BluSky Restoration Contractors, a US provider of restoration services for commercial, industrial, healthcare, and multifamily real estate, on behalf of their clients. Kohlberg and Partners Group acquired equal equity stakes in the transaction, with the company’s management team also retaining a meaningful ownership stake. BluSky’s previous majority owner, Dominus Capital, retained a minority stake in the company.
Ahmed Wahla, partner, Kohlberg, commented, “Led by a world-class management team, BluSky has a reputation for quality service across an array of geographies, and a well-recognized brand known for high customer and employee satisfaction. Built on recurring relationships, the Company has a proven growth platform predicated on culture and trusted local relationships. We are excited to bring our shared network, resources, transformational investment strategies, and platform building expertise into partnership with Kent Stemper, Drew Bisping, and the rest of the BluSky team.”
Kent Stemper, chief executive officer, BluSky, commented, “The rapid restoration and future protection of commercial buildings in the US has never been more important as weather patterns become more unpredictable and populations in urban areas densify. At BluSky, we have worked hard to build our platform and culture across the US under Dominus Capital’s stewardship, and look forward to this next step in our growth journey. We think the operational expertise and financial resources of both Partners Group and Kohlberg will be incredibly valuable as we invest in new capabilities and expand into new markets. We are also excited to continue our relationship with Dominus who have guided us to today’s milestone and remain incredibly supportive of our continuing journey.”
Mike Sexton, member of management, private equity, Partners Group, stated, “All stakeholders involved in addressing unplanned-for building damage benefit from timely and high-quality restoration services to protect human safety, mitigate future damages, preserve property value and function, and restore operations and economic activity as rapidly as possible. BluSky is well-positioned to benefit from this increasingly important transformative trend, driven by a team that shares an extraordinary bond of loyalty, teamwork, service excellence, and relentless commitment to provide customers with an exceptional experience.”
Robert W. Baird & Co. and Ropes & Gray LLP advised Kohlberg and Partners Group on the transaction.