Brookfield's private equity group to sell BGIS for $1.3 bln
The private equity group of Brookfield Asset Management has agreed to sell BGIS, a Markham, Ontario-based provider of integrated facilities management services, for about $1.3 billion (US$1 billion). The buyer is U.S. private equity firm CCMP Capital Advisors. The deal is expected to close in Q2 2019. Brookfield Capital Partners IV, which raised US$4 billion in 2016, acquired control of BGIS in 2015 and backed its organic and acquisition-led growth. Today, the company oversees more than 320 million square feet of real estate representing over 30,000 locations in North America, Asia and Europe. In a separate statement, CCMP said BGIS CEO Gordon Hicks and the management team will remain in place.
11 March 2019•2 mins read
