Pursant’s Investment Banking Practice is pleased to announce that Vonachen Services, Inc. has acquired Accent Building Maintenance, Ltd.
Our Client
Peoria, IL – Established in 1968, Vonachen Services, Inc. (“Vonachen”) 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.
The Transaction
On June 1, 2014, Vonachen acquired Accent Building Maintenance (“Accent”) as part of an on-going strategic acquisition initiative. Accent is one of northern Wisconsin’s premier janitorial companies. They provide janitorial services to commercial, industrial and education facilities and the marine vessel construction sector. The company was founded by Ken and Kathy King nearly 25 years ago and is headquartered in the Green Bay area in Marinette, WI. Accent will continue to operate under the Accent Building Maintenance name.
How Pursant Helped
Pursant LLC acted as the sole Merger & Acquisition Advisor to Vonachen for the transaction. Quinn, Johnston, Henderson, Pretorius & Cerulo acted as legal counsel to Vonachen. The Pursant team functions as the outsourced M&A department for Vonachen whereby Pursant takes ownership of the entire acquisition process from target identification through close, freeing the senior team of Vonachen to focus on the daily operations of their business. Pursant sought out sellers that met a predetermined set of criteria established by Vonachen including both quantitative requirements and qualitative requirements such as culture and value alignment.
Accolades
“We are extremely excited about expanding our presence in Wisconsin and continuing to build upon the Accent Building Maintenance legacy that Ken and Kathy King worked so hard to create. The Pursant team was great to work with! Mark Herbick and his team did an excellent job identifying a company that shared the same family vision and values as Vonachen Services. When it came to structuring the deal, the Pursant team created an offering that met both organization’s objectives.” – Matt Vonachen, President, Vonachen Services, Inc.
“We are very excited about Vonachen Services and Accent Building Maintenance coming together. Vonachen brings the support and expertise we need to continue growing as a company. Our company and employees have been welcomed with open arms and kindness from the President of Vonachen, Matt Vonachen and his team.” – Ken King, President, Accent Building Maintenance, Ltd
“The complementary strengths of these two great companies will allow both Accent and Vonachen to thrive in the Wisconsin market. Vonachen’s strategy to augment a robust organic growth plan with an effective acquisitive growth strategy managed by Pursant allows Vonachen to continue realizing its vision of becoming one of the leading privately held facility services providers in the US.” — Mark Herbick, CEO, Pursant