According to the release, Capital Contractors is one of the largest privately held providers of janitorial and facilities maintenance services in North America.
Founded and privately held since 1932, Capital Contractors operates through a network of 31 branch offices throughout the United States
, the release stated.
Erik Scott, principal at Palladium Equity Partners, said: "CCI is well known by its customers for providing high-quality support and responsive customer service at a competitive price for over 75 years. With its network of offices throughout the United States and Canada, the company is well-positioned to manage large-scale national accounts through a single point of contact, while also serving local businesses with its local knowledge and expertise. We see significant long-term growth potential for a proven, cost-effective provider like CCI, particularly given promising industry trends in outsourcing and vendor consolidation."
Terms and conditions of the transaction, to which David N. Deutsch & Company served as exclusive financial advisor, were not released, the release noted.
Capital Contractors'' future strategic initiatives include growing the company''s impressive list of national and local customers, furthering its expansion into Canada and expanding its platform to include enhanced heating, ventilation and air-conditioning (HVAC), plumbing, landscaping, repair and maintenance and other services
, the release added.