A Services Group has been acquired by IH Services, Inc.
IH Services, Inc. (“IHS” or “The Company”), headquartered in Greenville, South Carolina, is a leading national provider of janitorial and other facility maintenance and staffing services for businesses in industries including industrial/manufacturing, distribution, healthcare, commercial, and education. The firm’s success over 60 years stems from ongoing implementation of new, sustainable processes for cleaner, safer environments, impacting the pride and productivity of their clients’ employees.
In August 2016, IHS acquired A Services Group (“ASG”). ASG provides clients across the Mid-Atlantic and Southeastern US with a custom facility services program that includes security, janitorial and staffing. The quality of ASG’s delivery can be attributed to best practices honed from years of experience in these industries. ASG joins six operating companies managed by IHS that serve clients in 24 states, with more than 7,000 associates. Walt Glen, President of ASG, said: “The Pursant team felt that the synergies of the combined companies would be extraordinary, and now, as a combined organization, we are reaping the anticipated benefits. With the added management support and infrastructure from IHS, I now have the time to enjoy working with my clients once more.” Taylor Bruce, President of IH Services, Inc. stated: “Bringing together ASG and IHS is an ideal situation for both companies. The business models are very similar and the companies have the same service offerings, overlapping territories and very compatible cultures and management styles.” Ryan Hendley, CEO of IH Services, Inc. added: “We are very excited to have the ASG team become a part of our organization. We are positioned to provide the same high level quality of service to ASG customers and now can extend ASG security services expertise to our current customer base.”
How Pursant Helped:
For this transaction, Pursant, LLC acted as the sole Merger & Acquisition advisor for IH Services, Inc. After helping IHS establish an acquisition strategy, Pursant leveraged its extensive facility services industry knowledge and vast network to identify potential acquisition targets, ultimately singling out ASG. Pursant helped evaluate the cultural fit between the two companies, negotiated the final terms of the transaction and managed the entire deal cycle through close. This partnership freed the IHS team to focus on the daily operational and organic growth needs of the business.
Buyer Remarks – “Ryan Hendley & Taylor Bruce, CEO & President respectively of IH Services, Inc. “Mark Herbick and Nicole Levy of Pursant were instrumental in finding the ideal acquisition target, ASG, a company that aligned with our criteria. We are grateful to Pursant for their expertise at advising and leading us through the merger process and advising on the integration strategy. Pursant will continue to be a part of our M&A growth strategy as we seek new acquisitions.”
Pursant’s Remarks – Mark Herbick, CEO & Managing Director of Pursant LLC “In an M&A advisory capacity, Pursant often assumes a Goldilocks-like role, testing out multiple options in order to find the perfect fit for our clients. The parties must have interests, cultures and expectations that are closely aligned. IH Services and A Services Group are that perfect fit. Both companies will see tremendous benefits from this transaction. We look forward to helping guide the integration of the companies and continuing to drive the IH Services acquisition strategy.”