Pursant’s Investment Banking practice is pleased to announce that Vonachen Services, Inc. has acquired K-Tech Building Maintenance.
About Our Client
Established in 1968, Peoria, IL based Vonachen Services, Inc. (“VSI”) has grown to be one of the largest privately owned janitorial service companies in the Midwest and Southern US, with over 1000 employees servicing hundreds of locations. Vonachen’s service offerings include janitorial services, office support, factory support, recycling programs, and special services for commercial offices, health care, industrial and education facilities.
Established in 1975, Weston, WI based K-Tech Building Services, an affiliated entity of K-Tech Kleening Systems, (“K-Tech”), is a 2nd-generation family-owned business with more than three decades of serving Central and Northern Wisconsin customers with superior commercial cleaning.
In December of 2015, K-Tech Building Maintenance, an affiliated entity of K-Tech Kleening Systems, was acquired by Vonachen Services, Inc.
How Pursant Helped
Pursant, LLC (“Pursant”) acted as the sole Merger & Acquisition advisor to VSI for the transaction. Quinn, Johnston, Henderson, Pretorius & Cerulo acted as legal counsel to VSI. Pursant is VSI’s Acquisition Strategy Management partner, charged with taking ownership of the entire acquisition process from target identification through close, freeing the senior team of VSI to focus on the daily operations of their business. Pursant seeks out acquisition opportunities with companies that meet a predetermined set of criteria established by VSI including both quantitative and qualitative requirements and manages all phases of the deal cycle.
Matt Vonachen, President of VSI commented “We are very excited about K-tech Building Maintenance joining Vonachen Services Inc. The K-tech team will significantly enhance our presence in Central Wisconsin. The Kersemeier Family has done an outstanding job building their business and we look forward to continuing to build our relationship with the family. Combined with our previous Wisconsin acquisition, Accent Building Maintenance, the acquisition of K-Tech allows us to expand our presence across the state, creating growth opportunities for all employees and enhanced capabilities, service offerings and customer service for our clients. The Pursant Team was great to work with! Mark Herbick and his team helped identify a company that shares the same values and commitment we have to our employees and customers and bring the companies together.”
Craig Kersemeier, President of K-tech commented “We are very excited about VSI and the K-tech Building Maintenance division joining together. VSI gives us the regional strength, support and expertise that we need for continued growth in our markets. Our two experienced teams combined create an organization that can provide enhanced comprehensive solutions to our Client’s needs. A key deciding factor for bringing our companies together was common values that benefit our employees and our customers. We look forward to continuing to integrate our systems with VSI’s expanded programs to deliver the high quality services are customers expect.”
“Both being 2nd generation family businesses, the owners of both VSI and K-Tech valued the strong cultural fit between the companies. Alignment on business terms often proves to be easier to attain than compatibility of cultures. In this case, we feel both were achieved. The owners of K-Tech were able to monetize the value of their company while leaving it in the hands of a buyer that will appreciate its customers and employees as much as they did. VSI will bring similar family values to K-Tech Employees and Customers, along with expanded service offerings and capabilities for customers and growth opportunities for employees. There were a lot of winners in this transaction.” – Mark Herbick, CEO of Pursant, LLC.