Keystone Capital, Inc. (“Keystone”) is pleased to announce it has completed an investment partnership with Jobs Building Services, LLC (d/b/a “JOBS” or “the Company”), a Houston-based niche facilities services provider focused on commercial properties.
Founded in 1970, JOBS operates under the “JOBS” and “AMST” trade names and specializes in high-rise façade maintenance (including window cleaning and waterproofing), metal surface maintenance, elevator cab interior refurbishment, and other related property maintenance services. JOBS has built a market-leading position in the Houston market for its services based on a reputation for safety, reliability, and quality of work. The Company counts the area’s leading property management firms, building owners, and corporations as its clientele. For more information on JOBS, please visit www.jobs-amst.com.
Keystone and JOBS are pleased to announce two exciting new events since the completion of our platform investment in June 2019. In December, JOBS completed the acquisition of April Building Services, Inc. (“April”), a leading provider of façade maintenance services in the Dallas-Ft. Worth market. Founded in 1988, April is led by Donald Brown (President) and Tony Schiber (Vice President).
Secondly, Keystone and JOBS are pleased to welcome Eric Crabb as the Company’s new Chief Executive Officer effective June 1, 2020. Mr. Crabb has a wealth of facilities services experience, having most recently served as Executive Managing Director with Cushman & Wakefield. Prior to his role at Cushman & Wakefield, Mr. Crabb served as CEO of QSI Facilities which was acquired by Cushman & Wakefield in January 2019. Mr. Crabb also has over 10 years of facility services experience in managerial roles at ABM Industries.
Current CEO and Founder LaRue Coleman will be assuming the role of Chairman of the Board, in which he will continue to have strategic involvement with key customers as well as the Company’s acquisition strategy. “There is great opportunity for consolidation in our industry,” noted Mr. Coleman. “As such, our goal was to find a financial partner and management structure to enable our company to lead this consolidation but also to protect what has made our company successful. We believe we have found an ideal partner in Keystone and an ideal CEO to lead us through this next phase in Eric Crabb. We’re also pleased to welcome Don, Tony and the entire April team to our platform and excited about the potential synergies that this partnership can create for our collective client base.”
“I am thrilled to be joining JOBS and am looking forward to helping continue the legacy that LaRue and his team have built over the last 50 years. JOBS has an existing leadership team with a deep breadth of both industry and company experience, having them remain a part of the next phase of transformation will be incredibly instrumental. Additionally, having an equity partner like Keystone, who understands the industry and has a proven track record of building great companies, will be a significant advantage. I started my career in Houston almost 20 years ago, so getting a chance to come back and work with the all the outstanding CRE individuals in the market is a real bonus for me personally, ” commented Mr. Crabb.
“Keystone is excited to partner with LaRue Coleman, Eric Crabb and the team at JOBS,” commented Jason Van Zant, Managing Director of Keystone Capital. “JOBS has a stellar reputation in their market which we are committed to protecting. At the same time, we see great opportunity to grow the business substantially, and the entire management team shares that goal.”
JOBS is actively seeking bolt-on acquisition opportunities within niche areas of the commercial facilities services and maintenance industry. Parties with knowledge of potential investment opportunities in these segments are strongly encouraged to contact Jason Van Zant or Kevin Overby at Keystone Capital.
Terms of these transactions are not being disclosed. Senior debt financing has been provided by CIBC Bank USA and legal counsel was provided by Honigman LLP.
Jason Van Zant