LockeBridge Capital Partners, a leading middle market Boston area investment bank, advising on mergers, acquisitions, divestitures, valuations and capital raises, announced that it has acted as the buy-side advisor to Pritchard Industries, a portfolio company of Littlejohn & Co. LLC, on its strategic merger with an undisclosed janitorial services company with revenue in the range of $50 – $100 million.
Founded in 1986, Pritchard provides janitorial, engineering, exterior and specialty services to more than 900 clients across 24 states. Pritchard’s clients include commercial office buildings, education and government facilities, sports and entertainment venues, medical complexes and industrial facilities. The company employs more than 10,000 team members that deliver excellent service quality to Pritchard’s customers every day, contributing to the company’s 35-year history of uninterrupted growth.
Tom Melton, Pritchard Executive Vice President, commented, “Both Littlejohn and Pritchard have substantial experience in the facility services vertical. This transaction is highly complementary with Pritchard’s growth strategy and will deepen our geographic presence enabling Pritchard to offer unparalleled service to our large multi-location customer base.”
The LockeBridge facility services team has worked with some of the world’s leading facility services companies. Over the last 3 years LockeBridge has advised on the sale of nine premier facility service companies, making LockeBridge arguably the most active investment banker in the sector. This transaction is illustrative of LockeBridge’s continued growth in advising many of North America’s leading janitorial and exterior service providers.