M&A Deal Summary

Cerberus Capital Management Acquires Kellermeyer Bergensons Services

On October 22, 2019, asset manager Cerberus Capital Management acquired business services company Kellermeyer Bergensons Services from GI Partners

Acquisition Highlights
  • This is Cerberus Capital Management’s 6th transaction in the Business Services sector.
  • This is Cerberus Capital Management’s 47th transaction in the United States.
  • This is Cerberus Capital Management’s 2nd transaction in Ohio.

M&A Deal Summary
Date 2019-10-22
Target Kellermeyer Bergensons Services
Sector Business Services
Buyer(s) Cerberus Capital Management
Sellers(s) GI Partners
Deal Type Secondary Buyout

Target

Kellermeyer Bergensons Services

Maumee, Ohio, United States
Kellermeyer Bergensons Services is a provider of integrated facilities management services, including outsourced janitorial cleaning and other services, to some of the largest retail and grocery customers in the United States. Kellermeyer Bergensons Services was founded in 1967 and is based in Maumee, Ohio.

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Buyer(S) 1

Buyer

Cerberus Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1992
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cerberus Capital Management is a private investment firm that targets a wide range of global investments. Cerberus primarily looks for undervalued or distressed situations. Industry sectors of interest include aerospace and defense, apparel, automotive and industrial, building products, commercial services, consumer and retail, financial services, healthcare, manufacturing and distribution, paper, packaging, and printing, real estate, technology, telecommunications, transportation, and travel. In addition to private equity investing, Cerberus also provides corporate credit and acquires real estate. Cerberus was formed in 1992 by Steve Feinberg and is based in New York City.

DEAL STATS #
Overall 70 of 87
Sector (Business Services) 6 of 7
Type (Secondary Buyout) 12 of 14
State (Ohio) 2 of 2
Country (United States) 47 of 63
Year (2019) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-14 Closure Systems International

Indianapolis, Indiana, United States

Closure Systems International is a plastic closure design, manufacturing and high-speed capping equipment/application systems. Closure Systems International is based in Indianapolis, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-15 Off Lease Only

West Palm Beach, Florida, United States

Off Lease Only is a large volume used-car dealership in the United States, with four state-of-the-art retail locations in Florida, including in Palm Beach, Miami, Orlando and Fort Lauderdale. Off Lease Only helps shoppers skip the depreciation and save thousands on more than 5,000 low mileage 2016-2020 cars, trucks, SUVs and vans. Off Lease Only has an A+ rating from the Better Business Bureau, is recognized as an Edmunds Five-Star Premier Dealer, and has received recognition multiple times as DealerRater’s “Used Car Dealer of the Year for the Entire United States”.

Buy -

Seller(S) 1

SELLER

GI Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
PE ASSETS 42.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GI Partners (Global Innovation Partners) is a private equity firm focused on control oriented investments in asset-backed businesses and properties located throughout North America and Western Europe. GI looks to invest up to $1500 million in companies generating predictable, recurring cash flows; underperforming businesses with intrinsic value; and direct asset investments with operational complexity. Sectors of interest include energy, education, healthcare services, leisure, retail, logistics, media, entertainment, financial services, technology, and telecommunications. GI Partners was formed in 2001 and has offices in San Francisco, Greenwich, and Chicago.

DEAL STATS #
Overall 20 of 24
Sector (Business Services) 1 of 2
Type (Secondary Buyout) 7 of 9
State (Ohio) 2 of 2
Country (United States) 16 of 19
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-21 Insurity

Hartford, Connecticut, United States

Insurity provides innovative and flexible insurance technology that allows clients to meet their business goals and offer a simplified experience. With the market's most advanced cloud operations, Insurity's platform offers scalable, highly secure and reliable solutions that increase speed to value. Insurity was founded in 1971 and is based in Hartford, Connecticut.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-16 DR Fortress

Honolulu, Hawaii, United States

DR Fortress is a carrier-neutral data center and cloud services provider. DR Fortress assists both international and local companies with maintaining and securing their mission-critical IT systems. DR Fortress was founded in 2001 and is based in Honolulu, Hawaii.

Buy -
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