M&A Deal Summary

ABM Acquires GCA Services Group

On July 12, 2017, ABM acquired business services company GCA Services Group from Goldman Sachs Merchant Banking and Thomas H. Lee Partners for 1.3B USD

Acquisition Highlights
  • This is ABM’s 11th transaction in the Business Services sector.
  • This is ABM’s largest (disclosed) transaction.
  • This is ABM’s 16th transaction in the United States.
  • This is ABM’s 1st transaction in Ohio.

M&A Deal Summary
Date 2017-07-12
Target GCA Services Group
Sector Business Services
Buyer(s) ABM
Sellers(s) Goldman Sachs Merchant Banking
Thomas H. Lee Partners
Deal Type Add-on Acquisition
Deal Value 1.3B USD
Advisor(s) Goldman Sachs (Financial)
Kirkland & Ellis (Legal)

Target

GCA Services Group

Cleveland, Ohio, United States
GCA Services Group, Inc. is a provider of quality facility services, including janitorial/custodial services, contamination control for cleanroom manufacturing, facilities operations and maintenance services, grounds and athletic field management services, diversified staffing, and more.

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Buyer(S) 1

Buyer

ABM

New York, New York, United States
Category Company
Founded 1909
Sector Business Services
Employees100,000
Revenue 8.1B USD (2023)
DESCRIPTION

ABM is a provider of end-to-end integrated facility solutions services to commercial, governmental, industrial, institutional, retail, and residential facilities located primarily throughout the United States. The Company’s comprehensive capabilities include expansive facility solutions, energy solutions, commercial cleaning, maintenance and repair, HVAC, electrical, landscaping, parking and security services, provided through stand-alone or integrated solutions. ABM was incorporated in 1909 and is headquartered in New York City.

DEAL STATS #
Overall 18 of 20
Sector (Business Services) 11 of 13
Type (Add-on Acquisition) 15 of 17
State (Ohio) 1 of 1
Country (United States) 16 of 18
Year (2017) 2 of 2
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-25 Mechanical Solutions

Dallas, Texas, United States

Mechanical Solutions, Inc. is a provider of HVAC services, plumbing and building automation. Mechanical Solutions, Inc. is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-25 Able Services

San Francisco, California, United States

Able Services provider of building maintenance, engineering, and facility operations. Able Services also provides janitorial services, operations management, and maintenance engineering. Able Services was founded in 1926 and is based in San Francisco, California.

Buy $830M

Seller(S) 2

SELLER

Goldman Sachs Merchant Banking

New York, New York, United States
Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.

DEAL STATS #
Overall 74 of 110
Sector (Business Services) 6 of 9
Type (Add-on Acquisition) 20 of 37
State (Ohio) 4 of 5
Country (United States) 51 of 78
Year (2017) 5 of 7
Size (of disclosed) 19 of 32
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-06 AXPM Dental Management

Little Rock, Arkansas, United States

Rock Dental Brands is a dental service organization in Arkansas and Missouri, operating orthodontic, pediatric dental, oral surgery, and general dental clinics. The Little Rock-based company has its roots going back to 1986, when founder Dr. Mark Dake opened an orthodontic clinic in West Plains, Missouri. Focused on financial diligence, doctor collaboration, continuing education, and providing the highest quality of patient care possible, the Company grew through acquisitions and de novo clinic additions to what it is today – a fully integrated dental service organization operating four distinct brands under the Rock Dental umbrella.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-01 Revenue.io

Sherman Oaks, California, United States

Revenue.io is an operator of an end-to-end sales engagement platform that combines enterprise-grade telephony with conversation intelligence. Revenue.io helps teams engage with prospects and customers in the right way, at the right time, with the right context. Revenue.io was founded in 2013 and is based in Sherman Oaks, California.

Buy -
SELLER

Thomas H. Lee Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1974
PE ASSETS 35.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thomas H. Lee Partners (THL) is a private equity firm that seeks buyout, expansion, consolidation, distressed, and recapitalization investments across various industries. Sectors of interest include business and information services, consumer products/retail, financial services, healthcare, industrial, and media/communications. THL looks to invest $100 to $400 million in companies valued up to $2.5 billion. THL was formed in 1974 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 36 of 54
Sector (Business Services) 2 of 2
Type (Add-on Acquisition) 12 of 18
State (Ohio) 1 of 2
Country (United States) 28 of 45
Year (2017) 2 of 3
Size (of disclosed) 13 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-10 inVentiv Health

Burlington, Massachusetts, United States

inVentiv Health, Inc. is a provider of best-in-class clinical, commercial and consulting services to companies seeking to accelerate performance. inVentiv offers convergent services that deliver extraordinary outcomes to clients whose goal is improving human life.

Sell $4.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-02 Ten-X

Irvine, California, United States

Ten-X, Inc. is a provider of an online real-estate marketplace that allows individuals and investors to buy and sell residential and commercial real-estate properties using both desktop and mobile channels. Ten-X was founded in 2009 and is based in Irvine, California.

Buy -
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