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CCMP Acquires BGIS for $1 Billion

Print Article Contributed by BSM Staff

NEW YORK & TORONTO -- CCMP Capital Advisors, LP and BGIS have entered into an agreement in which affiliates of CCMP will acquire BGIS, an integrated facilities management company, from Brookfield Business Partners for approximately US$1 billion.

The Company’s Chief Executive Officer, Gordon Hicks, and the management team will remain in place and work with CCMP to support the Company’s next phase of growth.

“We are excited to partner with Gord and his team to continue to grow BGIS for the benefit of customers and employees.”

Leading the global real estate industry with innovative outsourcing and fully integrated solutions since 1992, BGIS manages over 320 million square feet of client portfolios across over 30,000 locations in Australia, Asia, North America and Europe.

“BGIS has developed into a world class Integrated Facility Management Services business by always putting the interests of our customers and communities first, constantly innovating and searching for new opportunities to create value for all stakeholders, and implementing sustainable operating practices that contribute to creating a better world,” said Hicks. “We’ve never been stronger as an organization, and I look forward to continuing to build BGIS in partnership with CCMP.”

“We have been very impressed by the industry-leading business the experienced BGIS management team has built over the years, rooted in a strong culture of caring, innovation and high-performance,” said Greg Brenneman, executive chairman of CCMP. “We are excited to partner with Gord and his team to continue to grow BGIS for the benefit of customers and employees.”

The transaction is expected to close in the second quarter of 2019, subject to customary closing conditions. Ropes & Gray LLP and McCarthy Tétrault LLP are acting as legal counsel to CCMP with assistance from Australian counsel, Clayton Utz. Morgan Stanley is serving as financial advisor to CCMP.

With a combined team of over 7,000 globally, BGIS relentlessly focuses on delivering innovative service solutions that create value for its clients. Globally, BGIS manages over 30,000 facilities totaling more than 320 million square feet across several markets, including Government, Higher Education, Utilities, Telecommunications, Financial Services, Oil & Gas, Healthcare and Cloud Enterprise. In addition to managing a diverse portfolio of corporate offices, retail, colleges, hospitals and industrial assets, BGIS is a world leader in the management of data centers and other critical environments.

With offices in New York and Houston, CCMP Capital Advisors, LP invests in three primary industries: Consumer, Industrial and Healthcare. Past investments in outsourced business services companies include Aramark, Brand Industrial Services and Safetykleen.

 

 

 

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