Los Angeles, CA – Support Services of America, Inc. (“SSA” or the “Company”) has announced the successful closing of a debt refinancing and growth recapitalization with Praesidian Capital (“Praesidian”). FocalPoint Securities, LLC (“FocalPoint”) served as SSA’s exclusive financial advisor on the transaction.
SSA is a premier provider of janitorial and facilities maintenance services to a variety of industries and clients including Fortune 1000 companies, healthcare providers, retailers, business institutions and federal customers nationwide. The Company’s dedication to consistently deliver high quality services has propelled the Company into one of the nation’s fastest growing janitorial and facilities services companies in the country and helped the Company establish itself as a premier brand name in the industry.
Founded in 1996, SSA has grown to become an industry-leading provider of a full suite of services to customer accounts and properties at 7,000 locations in 50 states totaling over 50 million square feet. The Company has been recognized as one of the fastest growing businesses by Inc. 500, Los Angeles Business Journal, and Hispanic Business Magazine.
Alex Fortunati, Founder and CEO of SSA said, “We are delighted to close this transaction with Praesidian Capital, and I am hopeful that with our new partner, we will continue on our proven path of success. FocalPoint ran a highly competitive process to identify the best possible capital provider for SSA, and in Praesidian we have found an investor who understands our business. The FocalPoint team demonstrated tremendous resolve and market savvy to bring this deal to a successful close, and we are excited to work with them as trusted advisors in the years to come.”
Nishen Radia, Managing Director at FocalPoint stated, “SSA has demonstrated impressive, industry-leading growth over the past decade, and the closing of the balance sheet recapitalization by Praesidian will position the Company well to continue its robust organic growth and acquisition strategy. We congratulate Alex and his team and look forward to working with them on more transactions going forward.”
Thomas Mills, Managing Director at FocalPoint commented, “Praesidian has proven itself to be a cooperative and creative investor in middle market businesses, and we are excited to bring them together with SSA. This transaction represents another successful financing for FocalPoint’s debt placement practice, and demonstrates our ability to run effective capital placement processes to drive successful outcomes for our clients.”
About Support Services of America, Inc.
SSA, headquartered in Norwalk, CA, provides a full suite of janitorial and facilities maintenance services to customers in a variety of industries across the nation. SSA’s customer base consists of blue-chip retailers, financial institutions, healthcare providers and government agencies. For more information, visit www.supportservicesamerica.com.
About Praesidian Capital
Praesidian Capital partners with small and mid-sized businesses by providing private debt capital. With a focus on its core competency in mezzanine financing, Praesidian invests in established, historically profitable companies often in connection with a management/leveraged buyout, recapitalization or refinancing. Based in New York City, Praesidian manages more than $700 million in committed capital. For more information, visit www.praesidian.com
About FocalPoint Securities, LLC
FocalPoint is an independent investment bank with offices in Los Angeles and Chicago, specializing in mergers and acquisitions, private placements (both debt and equity), and financial restructurings/work-outs. The firm’s primary focus is on middle-market companies. For more information, visit www.focalpointllc.com.
Please contact Nishen Radia or Thomas Mills with any questions about this transaction.