Ironwood Capital portfolio company The Facilities Group (TFG) has acquired Excel Building Services (Excel), a California-based janitorial services provider with a primary focus on retail and distribution customers.
Ironwood Capital Partner Roger Roche, says: “Excel serves customers in 40 states, significantly expanding the reach and market penetration of TFG. The overlap and fit with TFG are perfect, and the acquisition allows both TFG and Excel to better service their customers.” Paul Witinski, director at Ironwood Capital added, “Our investment thesis for The Facilities Group is to continue building a national leader within the janitorial services industry through both organic growth and strategic tuck-ins. The Excel acquisition fits perfectly into that strategy.”
“This is a strategic partnership between TFG and the team that built Excel,” says Bryson Raver, CEO of TFG. “We’re excited to partner with a very entrepreneurial team that has built a great company. This partnership is a continuation of our strategy to be one of the fastest growing national providers of facilities maintenance and janitorial companies in the US.”