CPE News (1/6/2021) – GDI Integrated Facility Services Inc. (TSX: GDI), a portfolio company of Birch Hill Equity Partners Management Inc., through its U.S. subsidiary, Ainsworth Inc., has acquired The BPAC Group, Inc. (BP Group) effective January 1, 2021.
Financial terms were not disclosed.
Founded by John Losey, Robert Barbera in 1978, Glendale, New York based BP Group is one of the largest and most respected mechanical services providers in New York State, providing both retrofit and renovation services and a strong service call platform principally to the commercial sector, including many of the most recognized Class A office properties in New York City. With close to 200 employees, The BPAC Group generated approximately US $110 million in annual revenue in its most recent fiscal year.
John (Jack) Fanneron, President of BP Group and Steven Heiderstadt, President of BP Group’s mechanical division, will assume leadership roles in Ainsworth’s U.S. operations.
LaSalle, Quebec based GDI is a leading commercial facility services provider which offers a range of services in Canada and the United States to owners and managers of a variety of facility types including office buildings, hotels, shopping centres, industrial facilities, healthcare establishments, distribution facilities, airports and other transportation facilities.
Birch Hill Equity Partners, through Birch Hill Equity Partners V funds (formerly IV funds), is GDI’s largest shareholder ahead of founder & CEO Claude Bigras, controlling 6,115,111 Multiple Voting Shares and 312,496 Subordinate Voting Shares (representing 67.26% of the issued and outstanding Multiple Voting Shares and 2.50% of the Subordinate Voting Shares), for a 27.4% of effective voting power.
photo credit: The BPAC Group
News Release
GDI Integrated Facility Services Inc. Announces Strategic Acquisition of The BPAC Group, Inc. Français
LASALLE, QC, Jan. 6, 2021 /CNW Telbec/ – GDI Integrated Facility Services Inc. (TSX: GDI) (the “Company” or “GDI”) is pleased to announce that its U.S. subsidiary, Ainsworth Inc. (“Ainsworth”), has concluded the acquisition of The BPAC Group, Inc. (“BP”) effective January 1, 2021.
Founded in 1978, BP is one of the largest and most respected mechanical services providers in New York State, providing both retrofit and renovation services and a strong service call platform principally to the commercial sector, including many of the most recognized Class A office properties in New York City. With close to 200 employees, BP generated approximately USD$110 million in annual revenue in its most recent fiscal year.
“BP represents Ainsworth’s first strategic acquisition in the U.S. market,” stated Claude Bigras, President & CEO of GDI. “BP is a very strong business with an experienced management team and an excellent reputation in the industry. In addition to strengthening Ainsworth’s existing U.S. operations, BP positions Ainsworth to expand its footprint into new markets in the United States both organically and through acquisition. John (Jack) Fanneron, President of BP and Steven Heiderstadt, President of BP’s mechanical division, are seasoned operators who will assume leadership roles in Ainsworth’s U.S. operations. I would like to welcome Jack, Steven and the entire BP team to the Ainsworth and GDI family,” concluded Mr. Bigras.
“We are very excited about joining with Ainsworth,” stated John (Jack) Fanneron, President of BP. “We have grown BP into one of the premiere providers of mechanical services in New York, and partnering with Ainsworth and GDI represents the next step in BP’s strategic evolution. The entire team at BP is looking forward to the growth opportunities available from being part of the Ainsworth and GDI family.”
ABOUT GDI
GDI is a leading commercial facility services provider which offers a range of services in Canada and the United States to owners and managers of a variety of facility types including office buildings, hotels, shopping centres, industrial facilities, healthcare establishments, distribution facilities, airports and other transportation facilities. GDI’s commercial facility services capabilities include commercial janitorial, installation, maintenance and repair of HVAC-R, mechanical and electrical systems, as well as other complementary services such as damage restoration and janitorial products manufacturing and distribution. GDI’s subordinate voting shares are listed on the Toronto Stock Exchange (TSX: GDI). Additional information on GDI can be found on its website at www.gdi.com.
SOURCE GDI Integrated Facility Services Inc.
For further information: Investor, analyst and media, GDI Integrated Facility Services Inc., David Hinchey, Senior Vice President, Strategic Development, Telephone: 514-368-8690 ext. 282