Cleveland, OH — GCA Services Group, a leading facility services company, will be acquired by Blackstone in a transaction expected to close in October.
Cleveland, OH — GCA Services Group, Inc., a leading facility services company in the U.S., will be acquired by a fund managed by Blackstone on behalf of its private equity investors, Blackstone Capital Partners V, L.P. (collectively with its affiliates, “Blackstone”), from Nautic Partners, L.L.C. and other minority shareholders.
“This transaction is a tremendous opportunity to fuel our continued growth,” says Robert Norton, chairman, president and CEO of GCA Services Group. “We have transformed ourselves into one of the country’s leading facility services companies in a few short years and our new relationship with Blackstone demonstrates our management-led commitment to continued dynamic growth which will energize our investment in our people and our dedication to the highest quality service to our customers.”
The transaction is expected to close in October subject to certain government approvals and other customary closing conditions.
Credit Suisse and Morgan Stanley acted as M&A advisors to Blackstone and are providing financing for the transaction. Simpson Thacher & Bartlett L.L.P. acted as legal counsel to Blackstone.
Robert W. Baird & Co. acted as lead financial advisor to GCA and Jefferies co-advised the company. Calfee, Halter & Griswold L.L.P. acted as legal counsel to GCA.
GCA Services Group, Inc. is among the largest facility services companies in the U.S., providing customized janitorial/custodial, facilities operations and maintenance, grounds management, diversified staffing, and other ancillary services to customers throughout the U.S. and Puerto Rico. For more information, visit http://www.gcaservices.com/.
Blackstone is one of the world’s leading investment and advisory firms. For more information, visit www.blackstone.com.
Founded in 1986, Nautic Partners is a middle-market private equity firm with over $2.5 billion of equity capital under management. For more information, visit www.nautic.com.