Kimco Services, LLC has acquired the assets of Eurest Services’ Retail, Commercial, and SSC Mall Divisions from Compass USA.
Macon, GA – Kimco Services, LLC (the “Company” or “Kimco”) is a national provider of janitorial and staffing services for commercial, retail and hospitality facilities. The Company was formed by a group of building services industry veterans including its CEO, Mark Horn. Kimco partners with its customers to improve the image, health and safety of their facilities in a cost efficient manner. They do this by leveraging their advantages including diverse expertise, skilled employees, superior service delivery systems and quality control standards. By delivering custom solutions, the Company has demonstrated its focus on exceeding expectations and creating mutually beneficial relationships with customers.
On June 6, 2014, Kimco Services, LLC acquired the assets of the Eurest Services’ Retail, Commercial, and SSC Mall Divisions from Compass USA (“Eurest”) as part of an aggressive acquisitive growth strategy. Eurest is one of the nation’s largest full-service facility maintenance companies serving over 5000 locations. They serve the commercial, industrial, retail, mall and education sectors. Combined, Kimco and these divisions of Eurest will employ greater than 6000 people in nearly 42 states.
How Pursant Helped
Pursant LLC acted as the Merger & Acquisition Advisor to Kimco for the Transaction. Nelson Mullins Riley & Scarborough LLP of Columbia, SC acted as legal counsel to the Company. Alaris Royalty Corp. and Fifth Third bank provided financing for the Transaction. Pursant was engaged by Kimco to source acquisition opportunities for the Company, freeing their leadership team to focus on the daily operations of their business. Pursant sought out companies that met a predetermined set of quantitative and qualitative requirements established by the Company, including culture and value alignment. After identifying and qualifying the Eurest opportunity, Pursant then advised Kimco through all phases of the deal cycle, helping to bring this transaction to a successful close.
“Myself and the entire Kimco team are thrilled to have had the opportunity to acquire the Eurest Services’ Retail, Commercial, and SSC Mall Divisions from Compass. The talent and scale that this transaction brings to our company allows us to better serve the needs of both customers and employees and makes us a formidable national player in this competitive arena. Mark Herbick and the Pursant team were great to work with! We were fortunate to have Pursant as our advisor in this endeavor. The team’s diligence, determination, professionalism and intimate knowledge of both the Investment Banking and Building Services industries lead us to the perfect business acquisition for our company.” – Mark Horn, CEO, Kimco Services.
“We believe our Eurest Services Retail, Commercial and SSC Malls Divisions and the people within these divisions, will have great success within a company that solely focuses on a similar operating model. I honestly believe that this divestiture was a “win/win” for both organizations.” – Bobby Kutteh, Compass USA and CEO of Crothal Services Group ”
Rarely do we see two companies that each stand to gain so much from a transaction. Mark Horn and the Kimco leadership team had the required vision, passion and commitment to meet and exceed the growing needs of its customers and employees. The scaled talent pool and loyal customer base of the Eurest Services Retail, Commercial, and SSC Mall Divisions brought them a more robust engine to bring Kimco’s vision to fruition. Compass USA transacted with a buyer that will provide growth opportunities for its loyal employees and care for the customer base it has labored to build. A big part of our firm’s job is playing matchmaker. I believe we have done this well by bringing Kimco and these divisions of Eurest together ” — Mark Herbick, CEO, Pursant.