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FacilitySource, Inc.
Company typePrivate
IndustryFacility management, Subsidiary
Founded2005; 19 years ago (2005)
HeadquartersColumbus, Ohio, USA
Area served
North America
Key people
Bill Hayden (CEO)
Richard Matero (CFO)
Christine Kowalczyk (COO) [1]
Number of employees
595 [2]
ParentCBRE Group
Websitewww.facilitysource.com

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]

  1. ^ https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=72954883
  2. ^ https://www.bizjournals.com/columbus/news/2017/11/14/incentives-get-richer-for-company-adding-270-jobs.html
  3. ^ https://www.businessinfocusmagazine.com/2017/08/next-level-facility-management/
  4. ^ https://www.nasdaq.com/article/cbre-shells-out-290m-to-buy-facilitysource-from-warburg-cm977921
  5. ^ http://www.emmitsburg.net/archive_list/articles/gp/2018/facilitysource.htm
  6. ^ http://www.emmitsburg.net/archive_list/articles/gp/2018/facilitysource.htm
  7. ^ http://industryrules.com/forum/industry-notable-company-showcase/facility-source/
  8. ^ https://www.businessinfocusmagazine.com/2017/08/next-level-facility-management/
  9. ^ https://pitchbook.com/newsletter/warburg-pincus-acquires-facilitysource
  10. ^ https://www.bizjournals.com/columbus/news/2017/07/25/city-backs-facility-companys-multi-million-dollar.html
  11. ^ https://www.bizjournals.com/columbus/news/2017/11/14/incentives-get-richer-for-company-adding-270-jobs.html
  12. ^ https://pitchbook.com/newsletter/warburg-pincus-acquires-facilitysource
  13. ^ https://www.prnewswire.com/news-releases/facilitysource-receives-investment-from-warburg-pincus-138502584.html
  14. ^ https://www.altassets.net/private-equity-news/by-news-type/deal-news/warburg-pincus-exits-facilitysource-in-290m-sale-to-cbre.html
  15. ^ https://pitchbook.com/newsletter/warburg-pincus-exits-facilitysource-for-290m
  16. ^ https://www.law.com/americanlawyer/2018/06/12/sidley-private-equity-practice-head-jumps-to-willkie/
  17. ^ https://www.themiddlemarket.com/data/the-weekly-wrap-stryker-boston-scientific-kkr
  18. ^ http://www.dispatch.com/business/20180612/cbre-buys-columbus-based-facilitysource-for-290-million
  19. ^ http://ir.cbre.com/phoenix.zhtml?c=176560&p=irol-newsArticle&ID=2354238
  20. ^ https://www.bisnow.com/national/news/property-management/cbre-pays-290m-for-facilities-management-provider-facilitysource-89457
  21. ^ http://www.globest.com/2018/06/25/cbre-purchases-facilitysource-from-warburg-pincus-for-290m/?channel=markets&section=national&slreturn=20180626095908