Bessemer Investors Establishes Partnership with W Services Group

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Oct 02, 2024, 07:00 ET

Investment supports organic growth and M&A at leading tech-enabled facility maintenance services platform

HAUPPAUGE, N.Y., Oct. 2, 2024 /PRNewswire/ -- W Services Group ("W Services" or the "Company"), a market-leading provider of vendor-managed facility maintenance services to multi-site customers, and Bessemer Investors LLC ("Bessemer"), a New York-based investment firm, announced today that Bessemer has completed a significant investment in the Company. Bessemer will partner with W Services' existing management team, including Founder and CEO Matthew Whelan, who will continue leading the Company. Financial terms of the transaction were not disclosed.

Founded in 2009 and headquartered in Hauppauge, NY, W Services provides cleaning, site refresh and remodel, and emergency response services to multi-site customers across North America. With industry-leading technology and a dedicated team of more than 250 employees managing a network of more than 3,000 contractor partners, the Company delivers consistent, high-quality results to a wide base of blue-chip customers across over 10,000 sites in retail, automotive, grocery, foodservice, distribution, and other multi-site end markets.

Andrew Mendelsohn, Managing Director at Bessemer, said, "We are thrilled to partner with Matthew and the W Services team. W Services has developed a leading platform in the facility maintenance services space, serving high-quality customers who trust W Services as a true partner, whether for recurring services or emergency needs. We look forward to supporting the Company during its next phase of growth, both through organic initiatives and strategic M&A."

Mr. Whelan commented, "We are immensely proud of the business that we have built over the last 15 years and could not ask for a better partner in Bessemer. This collaboration will allow us to further invest in our business to foster growth, while Bessemer's commitment to maintaining our culture and client-centric approach ensures that we will continue to serve our customers, employees, and business partners with the same excellence they have come to expect."

Concurrent with the acquisition, Bill Hayden has been appointed as an independent member of the board at W Services. He brings over 20 years of industry experience to the position, most recently serving as Chief Executive Officer at FacilitySource, a technology and data-driven facility management business that was acquired by CBRE in 2018.

EC M&A served as financial advisor and Garfunkel Wild, P.C. served as legal counsel to W Services. Raymond James served as financial advisor and capital markets advisor to Bessemer Investors, while Sidley Austin LLP served as legal counsel. Brightwood Capital Advisors provided debt financing for the transaction.

About W Services Group
W Services Group is a leading provider of outsourced facility services, including cleaning, site refresh and remodel, and emergency response services. The Company is headquartered in Hauppauge, NY and provides services across North America. W Services' quality-focused employees and contract partners successfully develop, implement, and manage programs and projects for multi-site customers. For further information, please visit https://www.wservices.com.

About Bessemer Investors
Bessemer Investors is a New York-based investment firm focused on partnering with middle market businesses to support growth and enhance value creation. Bessemer differentiates itself by combining a long-term, flexible capital base with a team of experienced private equity professionals. This approach offers unique solutions to Bessemer's partners and the flexibility to maximize long-term value. For further information, please visit https://www.bessemerinvestors.com.

Contact:

Lambert by LLYC
Joanne Lessner, [email protected], 212-222-7436
Caroline Luz, [email protected], 203-570-6462

SOURCE Bessemer Investors