FacilitySource: Difference between revisions
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Revision as of 14:11, 30 July 2018
Company type | Private |
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Industry | Facility management, Subsidiary |
Founded | 2005 |
Headquarters | Columbus, Ohio, USA |
Area served | North America |
Key people | Bill Hayden (CEO) Richard Matero (CFO) Christine Kowalczyk (COO) [1] |
Number of employees | 595 [2] |
Parent | CBRE Group |
Website | www |
FacilitySource, is a technology-based facilities management firm headquartered in Columbus, Ohio, with a back-office support center in Phoenix, Arizona. The company provides facility management to businesses in retail, banking, logistics, and healthcare industries based in North America. [3]
History
Headquartered in Columbus, Ohio, FacilitySource was founded and incorporated in 2005.[4] FacilitySource was founded as a Software as a service (SaaS) solution for retail operations with multiple locations. Consequently, it had a large repository of data that could be analyzed. By 2012, the company built a network of subcontractors across North America. [5]
FacilitySource started offering trade services performed by what it refers to as its ‘Elite Network’. These service providers are located in large centers across the country. It serves clients across popular brands in healthcare, banking, retail, logistics and many other sectors like The Home Depot, Starbucks, Walmart, Autozone, Dollar General, LBrands, Speedway, FedEx Office, T-Mobile and many more retailers, restaurants, e-commerce retailers and other entities.[6][7][8] Funding and Acquisition
In October 2011, FacilitySource received $10 million of development capital from New York based-BMO Capital Markets.[9] In July, 2017, FacilitySource got a $400,000 grant from the State of Ohio to add 272 jobs and $13.5 million in payroll in Central Ohio to its existing 323 jobs at its Columbus headquarters.[10][11] Acquisition by Warburg Pincus In 2012, Warburg Pincus acquired a majority stake in the company. The terms of the deal weren’t disclosed.[12][13][14]
Acquisition by the CBRE group In June, 2018, the CBRE Group acquired FacilitySource from Warburg Pincus for $290 million in cash.[15][16][17][18][19] Through this deal, CBRE got Facility Source’s software technology platform, vendor development program, a 24/7 operations center and harness a supply chain of thousands of third-party service providers to fix problems and address requests at all office, industrial and retail buildings that CBRE manages in the US. [20][21]
- ^ https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=72954883
- ^ https://www.bizjournals.com/columbus/news/2017/11/14/incentives-get-richer-for-company-adding-270-jobs.html
- ^ https://www.businessinfocusmagazine.com/2017/08/next-level-facility-management/
- ^ https://www.nasdaq.com/article/cbre-shells-out-290m-to-buy-facilitysource-from-warburg-cm977921
- ^ http://www.emmitsburg.net/archive_list/articles/gp/2018/facilitysource.htm
- ^ http://www.emmitsburg.net/archive_list/articles/gp/2018/facilitysource.htm
- ^ http://industryrules.com/forum/industry-notable-company-showcase/facility-source/
- ^ https://www.businessinfocusmagazine.com/2017/08/next-level-facility-management/
- ^ https://pitchbook.com/newsletter/warburg-pincus-acquires-facilitysource
- ^ https://www.bizjournals.com/columbus/news/2017/07/25/city-backs-facility-companys-multi-million-dollar.html
- ^ https://www.bizjournals.com/columbus/news/2017/11/14/incentives-get-richer-for-company-adding-270-jobs.html
- ^ https://pitchbook.com/newsletter/warburg-pincus-acquires-facilitysource
- ^ https://www.prnewswire.com/news-releases/facilitysource-receives-investment-from-warburg-pincus-138502584.html
- ^ https://www.altassets.net/private-equity-news/by-news-type/deal-news/warburg-pincus-exits-facilitysource-in-290m-sale-to-cbre.html
- ^ https://pitchbook.com/newsletter/warburg-pincus-exits-facilitysource-for-290m
- ^ https://www.law.com/americanlawyer/2018/06/12/sidley-private-equity-practice-head-jumps-to-willkie/
- ^ https://www.themiddlemarket.com/data/the-weekly-wrap-stryker-boston-scientific-kkr
- ^ http://www.dispatch.com/business/20180612/cbre-buys-columbus-based-facilitysource-for-290-million
- ^ http://ir.cbre.com/phoenix.zhtml?c=176560&p=irol-newsArticle&ID=2354238
- ^ https://www.bisnow.com/national/news/property-management/cbre-pays-290m-for-facilities-management-provider-facilitysource-89457
- ^ http://www.globest.com/2018/06/25/cbre-purchases-facilitysource-from-warburg-pincus-for-290m/?channel=markets§ion=national&slreturn=20180626095908