San Francisco private equity firm GI Partners is buying Kellermeyer Bergensons Services LLC, which provides management services to grocery stores. The seller is Kohlberg & Co. LLC.
Kellermeyer, headquartered in Oceanside California, and Maumee, Ohio, provides contract cleaning, porter services, parking lot maintenance, snow removal, landscaping, general repair and technical services to retail and grocery customers in the U.S., Canada and Puerto Rico. The company was formed in 2011 through the merger of Kellermeyer Building Services LLC and Bergensons Property Services Inc.
GI plans to grow the target organically and through add-on acquisitions. “Outsourced facilities services is a large and growing industry, and significant additional growth opportunities exist as the company continues to broaden its services offering," says GI Partners director Amin Hariri. "Moreover, as the company enters complementary end markets, such as education and healthcare, its national presence, hybrid service delivery model, differentiated field management infrastructure, and data-driven orientation will allow KBS to continue to grow share.”
The PE firm owned the Linc Group, an infrastructure and maintenance services provider, which it sold to ABM Industries in 2010. GI is making the investment from GI Partners Fund IV, which has $2 billion in commitments and closed in April. GI manages about $11 billion in capital commitments. The firm's other investments include Peak 10 Inc., an IT infrastructure company that the firm invested in in May.
Kohlberg is a New York based private equity firm that focuses on investment in middle market companies. The firm invested in the target in 2010.