BMO Mezzanine Fund Provides $10 Million in Financing to FacilitySource
COLUMBUS, Ohio – FacilitySource, the leading global provider of facility maintenance and management solutions to retailers, has received an investment of $10 million from BMO Capital Markets’ Mezzanine Fund.
This infusion of capital will allow FacilitySource to fund growth and strategic capital expenditures, including expansion of its offices in North America and Europe, continued investment in its software applications to support retail facility management solutions, as well as pursue potential strategic acquisitions.
According to FacilitySource CEO, Bill Hayden, “FacilitySource has been growing 25-30% each year since we took our solution to market. The capital provided by BMO’s investment will allow us to double the capacity of our service optimizationcenters that support over two million helpdesk calls per year. We will alsodirect capital to drive innovations in the retail facility management industry - by creating new online applications and web-based communities to service our current and future clients.”
FacilitySource’s solutions support the facilities management function for North American andinternational clients in the retail, restaurant, automotive, and other industries with multi-site operations. Currently supporting over 55,000 locations in twelve countries, FacilitySource processes over $1 billion in annual expenditures – from sign and air-conditioning repairs to major capital projects and roll-outs. FacilitySource’s projected growth for the next three years includes creating 250 additional positions in its Columbus and Phoenix locations.
For more information about FacilitySource, visit www.facilitysource.com.
Founded in 2001, FacilitySource is known for its holistic approach to facility maintenance management and process optimization in a wide range of business sectors, which include retailers, shopping centers, restaurants, auto parts stores and other companies with geographically disperse real estate portfolios. With over 55,000 locations served and a database of over 10,000 vendors, FacilitySource provides web-based transaction management software, vendor management and research, 24/7/365 service centers, statistical analysis and reporting, and paperless invoicing. FacilitySource manages millions of facilities maintenance work orders annually as well as over $1 billion in annual repair and maintenance expenses. Headquartered in Columbus, Ohio, FacilitySource also manages its operations in Phoenix, AZ, Chester, England, and Madrid, Spain. Clients include Limited Brands (Victoria’s Secret, Bath & Body Works, Henri Bendel, La Senza), Rite Aid, The Children’s Place, OfficeMax, DSW, The Vitamin Shoppe, Goodyear Tire Centers, Darden Restaurants (Red Lobster, Olive Garden, Longhorn Steakhouse), Abercrombie & Fitch and others. For more information, visit www.facilitysource.com.
About BMO Mezzanine Fund
Started in 2003, BMO Mezzanine Fund has $300 million in committed capital to invest in middle-market, U.S. based companies across a wide spectrum of niche service, commercial and industrial, consumer, food, healthcare, and specialty distribution industries.