Keystone Capital is pleased to announce that its portfolio company JOBS Group (JOBS) has been merged with Valcourt Building Services (Valcourt), which recently received a growth equity investment from private investment firm Littlejohn & Co. Terms of the transaction have not been disclosed.
Keystone formed JOBS in June 2019 after its initial investment in Jobs Building Services, LLC, a leading commercial window cleaning and facility maintenance provider in Houston, TX. Keystone subsequently completed three add-on acquisitions to JOBS over the course of the next 18 months, approximately doubling the size of the business. JOBS represents another successful investment for Keystone within its Commercial and Industrial (C&I) Services efforts.
Based in Houston, TX, JOBS specializes in high-rise façade maintenance including window cleaning and waterproofing, metal surface maintenance, elevator cab interior refurbishment, and other related property maintenance services. The JOBS portfolio of companies operates under the AMST, April Building Services, EDS, JOBS Building Services, and Scottie’s Building Services trade names, primarily in Texas and the Carolinas.
Established in 1986 and headquartered in McLean, VA, Valcourt provides a full range of recurring and essential exterior building maintenance services that require vertical access capabilities, including window cleaning, waterproofing and safety services to Class-A commercial offices, high-rise residential condominiums, hospitality businesses, healthcare facilities and other clients. Valcourt received an investment from Littlejohn & Co. LLC in January 2021.
“We are extremely happy with the outcome of the JOBS investment,” commented Jason Van Zant, Managing Director of Keystone. “We wish Eric Crabb and the JOBS management team the best for their new chapter with the Littlejohn and Valcourt teams.” Keystone has retained a minority equity interest in the combined Valcourt / JOBS business.
Eric Crabb, Chief Executive Officer of JOBS Group added, “Keystone was a terrific partner for JOBS and our partnership with Keystone was strong. We are excited, however, to work with the experienced team at Valcourt and bring together leading building services brands in the U.S.”
Investment banking services were provided to JOBS and Keystone by Truist Securities, and legal services were provided to JOBS and Keystone by Honigman LLP.
Jason Van Zant, Managing Director
Kevin Overby, Vice President
Andrew Wehr, Vice President
Brian Prendergast, Associate