KBS Completes Acquisition of Varsity Facility Services

Oceanside, Calif. — Kellermeyer Bergensons Services, LLC (KBS), the largest provider of technology-enabled, integrated interior and exterior property services to retailers, grocers and multi-site customers in North America, has purchased Varsity Facility Services, a leading facility services provider in the U.S. and Canada. Varsity will join KBS as an operating division and will continue to utilize the Varsity brand.

"Varsity is an iconic service brand in North America and we are very pleased to warmly welcome Eric Luke and his team into the KBS platform,” says Mark Minasian, chief executive officer of KBS. “We want to thank and pay respect to Varsity Founder Don Aslett and Chairman Arlo Luke, who are pioneers in our industry and whose vision and character were fundamental in shaping Varsity's unique service culture."

Varsity primarily serves the institutional, education, healthcare, distribution, corporate campus and government markets and continues KBS's strategy to serve multi-site customers across end markets. KBS and Varsity offer integrated maintenance services allowing customers the option to bundle a combination of services or to select single services.

"KBS and Varsity have long histories in the facilities services industry and we've both enjoyed long-tenured relationships with our customers,” says Eric Luke, chief executive officer and president of Varsity Facility Services. “We at Varsity are enthusiastic about becoming part of KBS and leveraging its proprietary labor management and service delivery technology to drive additional efficiency and be even more responsive to customers."

"The acquisition of Varsity aligns with the strategic plan we underwrote when we partnered with KBS in 2014,” says Hoon Cho, managing director at GI Partners. “The foundation of the plan was to build a best-in-class technology platform that would further differentiate KBS in the marketplace and allow it to provide the most efficient and highest quality service to customers, leading to transformation of the facilities services space. To that end, KBS has developed an impressive technology-enabled facilities services platform and has distanced itself from the competition, setting the standard for modern service delivery for customers in multiple end markets while simultaneously becoming the buyer of choice for sellers of high quality facilities services companies across end markets and service offerings. This is the second acquisition by KBS this year with a robust pipeline of additional opportunities to follow. We congratulate Mark and the KBS team on the acquisition and welcome the Varsity team to KBS."

KBS's core services are interior and exterior contract cleaning, facilities repair and maintenance, landscape management and parking lot maintenance. Varsity's core services are contract cleaning, building maintenance and construction management.

Varsity Facility Services is an industry leading provider of janitorial, maintenance and construction services spanning the United States and Canada. Founded in 1957, the company was the first building service contractor to be certified by the ISSA (The Worldwide Cleaning Industry Association) Cleaning Industry Management Standard (CIMS) and received the certification with honors. Additionally, Varsity demonstrates its commitment to the environment through green cleaning programs and the construction of its own LEED Platinum facility. Varsity's subsidiary, System 1, is a minority owned company spanning several states. Varsity is based in Salt Lake City. For more information, visit www.varsityfs.com.

Kellermeyer Bergensons Services, LLC (KBS) is North America's largest provider of technology-enabled, mission critical interior and exterior property service solutions to the off price, discount, dollar, drug, grocery, health/fitness, home improvement, department and specialty retail categories. The firm also operates in the education, healthcare, commercial, industrial and banking sectors. KBS was established in 2011 after the merger of Kellermeyer Building Services L.L.C., which was founded in 1967, and Bergensons Property Services Inc., founded in 1984. The company is based in Oceanside, Calif., and is majority owned by GI Partners. For more information, visit www.kbs-services.com.

GI Partners is a leading private investment firm based in San Francisco. For more information, visit www.gipartners.com.

SOURCE: Kellermeyer Bergensons Services, LLC

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