GI Partners buys majority stake in HES Facilities Management
Headquartered in Knoxville, the company provides janitorial, facilities-management and groundskeeping services to K-12 districts and higher education customers in more than 30 states.
Takeaways
- HES Facilities Management is a facilities services provider to K-12 and higher education institutions.
- GI Partners is acquiring HES Facilities Management.
- The target serves education institutions across United States.
Knoxville, Tenn.-based HES Facilities Management, a provider of janitorial, facilities-management and groundskeeping services for education institutions, received a majority investment from GI Partners.
Founded in 2020, HES serves K-12 districts and higher education customers nationwide and operates in more than 30 states.
Charlie Spencer remains president and CEO, and Spencer, chairman Buddy Helton and the broader management team reinvested and retained significant ownership.
"HES is proud to announce our new partnership with GI Partners as we enter an exciting new chapter of growth," added Buddy Helton, Chairman of the Board.
GI Partners plans to back organic growth, operating improvements and entry into education-adjacent markets, drawing on its work with service-driven organizations.
Terms were not disclosed, and Rothschild & Co served as financial advisor to GI Partners, with Ropes & Gray LLP as legal advisor.
Get tomorrow morning's tape in your inbox.
Yesterday's platforms, add-ons, recaps, and exits, cleaned up before the workday starts.