CIVC Exits Kellermeyer Building Services
CIVC Partners, LP announced the successful sale of Kellermeyer Building Services to an investor group including management and Key Principal Partners in a transaction that closed in February.
Based in suburban Toledo, Ohio, Kellermeyer Building Services is a leading national provider of contract janitorial cleaning services to the retail market. The Company has over 6,000 employees serving over 2,500 retail locations in 46 states. Customers include mall-based department stores, big box retailers, grocery stores, and pharmacies. CIVC teamed with management to acquire Kellermeyer in 2001, and together drove significant growth in the business through strong growth within the customer base and expansion into new markets.
Kellermeyer CEO Ken Sander said “CIVC made a long term commitment to KBS and was creative in bringing value to the company while allowing management to run the business. CIVC showed flexibility and creativity upon exit and structured a transaction that resulted in a win/win for all parties.”
Chris Perry, a Partner with CIVC, commented “We are extremely proud of our partnership with Ken and his team. We were able to deliver outstanding results to our investors, while further broadening our experience and strong commitment to investing in outstanding business services opportunities.”
Piper Jaffray advised the company in the sale process.
For more information, please contact: