East Coast Lot & Pavement


LockeBridge Captial Partners, a Boston area Investment Bank providing merger and acquisition advisory services,  announced today that it has acted as the exclusive financial advisor in the sale of East Coast Lot & Maintenance (“ECLP”) to Kellermeyer Bergensons Services(“KBS”). ECLP is a leader in parking lot maintenance services.  ECLP serves major New England  commercial accounts such as universities, hospitals, banks and retailers. KBS, with more than 41,000 active customer locations in all 50 U.S. states, Canada, and Puerto Rico is the largest provider of technology-enabled, integrated interior and exterior property services to multi-region and multi-site customers in North America.

Mark Minasian, Chief Executive Officer of KBS stated, “We are very excited about the acquisition. They are a leader in snow and ice management, landscaping and parking lot maintenance services. This expansion by KBS into complementary exterior services in very attractive end markets further strengthens our commercial value proposition, offering our customers the largest, most reliable integrated facility support solutions platform for interior, exterior or bundled services across North America.”

According to Mr. Ben-Yashar, CEO of ECLP,  “Selling to a billion dollar company can be intimidating.  Ensuring that the purchase agreement reflects expectations is usually a job left to the legal team. After consummating this complex transaction, I can credibly state that the LockeBridge team did far more than identify the purchaser and negotiate the deal terms. LockeBridge managed the entire process, including legal, tax, regulatory and accounting,  to ensure that I was protected on such complex issues as working capital transfer, post-closing indemnifications and sophisticated earn-out provisions. Navigating the foregoing with a $billion company, owned by a mega private equity group, requires in-house expertise that few bankers, can boast.  LockeBridge does it all at the very highest level.”

Scott Waxler, LockeBridge Managing Partner, stated,  “The external environment; weather, industry and macro-economic conditions; were highly variable during the time of the closing.  Negotiating a structure to accommodate this variability and the needs of both party’s required significant creativity.  Memorializing the creative structure on the stock purchase agreement required multi-disciplined expertise. I am thrilled that LockeBridge was able to represent the various disciplines and expertise  required to protect the best interests of our client.”