KBS Acquires Kimco Facility Services
Kellermeyer Bergensons Services, LLC (“KBS”), a trusted partner to leading operations and facility managers across North America, today announced the acquisition of Kimco Holdings, LLC, and Kimco Facility Services, LLC (“Kimco”). KBS is a portfolio company of Cerberus Capital Management, L.P. (“Cerberus”), a global leader in alternative investing.
Founded in 1970 and headquartered in Atlanta, Kimco is a leading national provider of customized commercial cleaning programs, facility maintenance, and associated services. With its array of technology-enabled facility services, the company supports clients across business and industrial end markets, including telecommunications, industrial and manufacturing, government, education, healthcare, and banking and finance. Kimco will operate as a KBS company.
“Kimco is a respected facility services leader with a deep track record of building trusted client relationships,” says Mark Minasian, CEO of KBS. “More than ever, clients require partners who can deliver reliable, high-quality services at scale while overcoming complex market challenges. Kimco provides us with greater depth in the business and industrial sectors and we warmly welcome their talented team to the KBS family. Together, we will leverage our collective industry knowledge, best practices, and technology capabilities to help clients raise standards and improve operational performance.”
Sandeep Gupta, CEO of Kimco, comments: “We are excited to join KBS, a recognized leader who shares our commitment to providing best-in-class client experiences and leading solutions to create healthy and safe environments. Our clients will now have access to a broader portfolio of services supported by national scale, enabling us to serve their facility needs today and well into the future.”
Over the past four years, KBS has acquired 15 companies to build on its market-leading solutions and expand into new end markets and regions. Today, KBS is the largest privately held provider of facility services in North America, providing scalable, technology-enabled solutions across more than 100,000 locations.
Bob Warden, global head of Private Equity at Cerberus, adds: “Healthy operations remain central to organizations across sectors and KBS continues to grow to meet the mission-critical needs of clients. The addition of Kimco further expands KBS’ ability to provide tailored, technology-driven solutions and builds on its distinct market leadership.”