Blue Sage Capital Invests in Clean Team
Founded in 1996, the Toledo, Ohio-based commercial janitorial and facilities-cleaning provider operates 18 branches across 13 states serving commercial, healthcare, industrial, and education clients.
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Clean Team, LLC, a commercial janitorial and facilities-cleaning services provider, received a minority investment from Blue Sage Capital, with founder and CEO Bob Armbruster retaining majority ownership and continuing to lead the company. Capital One and Fifth Third provided debt financing for the transaction, and Clean Team was advised by BlackArch Partners and Holland & Knight LLP.
The investment provides growth capital for continued organic expansion and a disciplined acquisition program, and the company has integrated 13 add-on acquisitions to date. Austin, Texas-based Blue Sage Capital has over $1.2 billion of assets under management and typically invests $25 million to $60 million in buyouts and recapitalizations of companies with $25 million to $200 million of revenue.
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