Pritchard Industries Acquired By Private Investment Firm
Littlejohn & Co. LLC, a private investment firm based in Greenwich, Connecticut, announced last week that it has acquired Pritchard Industries (“Pritchard”), a leading provider of essential, recurring facility services. As part of the transaction, the senior management team led by Jay Leyden, President & CEO, will remain significant owners of the company. Terms of the transaction were not disclosed.
Founded in 1986, Pritchard provides janitorial, engineering, exterior and specialty services to more than 900 clients across 24 states. Pritchard’s clients include commercial office buildings, education and government facilities, sports and entertainment venues, medical complexes and industrial facilities. The company employs more than 10,000 team members that deliver excellent service quality to Pritchard’s customers every day, contributing to the company’s 35-year history of uninterrupted growth.
Littlejohn will draw on its significant experience in the facility services sector to support Pritchard’s growth strategy by providing capital and resources to enhance the company’s service offering, technology and geographical presence.
“Pritchard has a well-earned reputation as a leading facility services platform and plays a vital role at a time when workplace health, safety and sanitation have never been more critical. The company’s superior service quality, operational excellence, and execution have enabled it to develop a deeply loyal customer base, to expand its service offering and to enter new geographies,” says Brian Michaud, a Managing Director at Littlejohn. “We are excited to partner with CEO Jay Leyden and the rest of the Pritchard team to build on the company’s past success.”
“Littlejohn has a strong track record building long-term value and creating enduring success for its portfolio companies, and we are thrilled to have their backing during this next phase of our evolution,” adds Jay Leyden, President and CEO of Pritchard. “This is an exciting day for our company and I look forward to partnering with Littlejohn’s experienced team to create greater opportunities for our customers and team members.”
Moelis & Company and Houlihan Lokey served as financial advisors and Kirkland & Ellis LLP served as legal counsel to Pritchard. Troutman Pepper served as legal counsel to Littlejohn.