Gordon Hicks, the CEO of BGIS, said in a release he and the management team will remain in place and work with CCMP to support the company’s next phase of growth.
BGIS, created in 1992, provides a full spectrum of customized facility management services, project delivery services, energy and sustainability solutions, asset management, workplace advisory and management, and real estate services to real estate and infrastructure owners and occupiers.
Supported by more than 7,000 employees globally, the company manages over 320 million square feet of client portfolios across over 30,000 locations in North America, Australia, Asia 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. We’ve never been stronger as an organization, and I look forward to continuing to build BGIS in partnership with CCMP,” Hicks said in the release.
BGIS doubled in size during 24-month period
“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, in the release. “We are excited to partner with Gord and his team to continue to grow BGIS for the benefit of customers and employees.”
BGIS underwent a major growth and transformation between about 2015 and 2017, including the appointment of Hicks to the newly created position of CEO in May of 2017. Up to that point, Hicks had served in several increasingly senior positions during a 20-year career at BGIS, including CEO of its Americas division.
He assumed the overall CEO role following 24 months of dramatic which saw BGIS almost double its size as it expanded in Asia, the United Kingdom and the United States. It grew to service more than 100 clients with (at that time) over 300 million square feet in a portfolio of 30,000-plus facilities around the world.
The companies say 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.
BGIS is a global leader in the provision of facility management, project delivery, energy & sustainability, asset management, workplace advisory, and real estate services.
Globally, BGIS manages over 30,000 facilities totalling more than 320 million square feet across several markets including government, higher education, utilities, telecommunications, financial services, oil and 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 centres and other critical environments.
About CCMP Capital
CCMP Capital Advisors, LP specializes in middle-market buyouts and growth equity investments of $100 million to $500 million in North America and Europe.
With offices in New York and Houston, CCMP invests in three primary industries: consumer, industrial and healthcare. Selected investments under management include: Founder Sports Group, Eating Recovery Center, Hayward, The Hillman Group, Jetro Cash & Carry, PQ Corporation, Shoes For Crews and Truck Hero.
Past investments in outsourced business services companies include Aramark, Brand Industrial Services and Safetykleen.