Nautic Partners-backed GI Partners acquires HES Facilities Management
Based in Knoxville, the facilities services provider works with K-12 schools, higher education institutions and commercial customers across more than 30 states.
Knoxville, Tennessee-based HES Facilities Management, a provider of janitorial, facilities management and groundskeeping services for education and commercial customers, has been sold by Nautic Partners to GI Partners.
The company serves K-12 school districts, higher education institutions and commercial facility partners through regional locations and partnerships in more than 30 states.
Nautic Partners founded HES with management in 2020 and scaled the business under Charlie Spencer as president and CEO and Buddy Helton as chairman.
“HES represents the Nautic Services team’s third successful exit in the outsourced education services market.
We believe that our strategy to build the company in partnership with management serves as a core example of Nautic’s investment playbook at work,” said Shahan Zafar, Managing Director of Nautic.
Terms were not disclosed.
Baird served as financial advisor, and Troutman Pepper Locke served as legal advisor to HES and Nautic Partners.