Partnership between "swap" and"Bain Capital" To acquire a company "ServiceLogic"
Abu Dhabi, December 17 / WAM / Mubadala Investment Company (Mubadala), in partnership with Bain Capital (Bain), announced the completion of the acquisition of Service Logic LLC (Service Logic), a leader in comprehensive heating, ventilation and air conditioning services for the commercial sector and building automation, from Leonard Green & Partners.
Under this acquisition, Mubadala and Bain will continue to support the company in the next phase of its growth journey.
Service Logic is headquartered in Charlotte, North Carolina, USA, and operates from more than 140 locations throughout North America.
The company specializes in heating, ventilation and air conditioning services for the commercial sector, including preventive maintenance, emergency services, unit replacement, and modernization and renovation projects.
With a network of more than 5,000 technicians, Service Logic combines a high-quality local service model with the advantages of national reach, making it a trusted partner for thousands of customers across various sectors and regions. The company has a long track record of successful strategic acquisitions and ongoing collaboration with local owners and operators.
On this occasion, Zuhair Raqraqi, Head of Industries and Business Services at Mubadala, stressed the importance of Mubadala’s cooperation with Bain Capital and the Service Logic team at this important stage in the company’s journey, pointing out that “Service Logic” has succeeded in building a pioneering platform based on providing distinguished services, providing advanced technical expertise, and close relationships with customers. He explained that this investment reflects Mubadala’s belief in the company’s ability to achieve continuous growth, and in its strategy to support companies that provide basic, flexible services and have real opportunities to create value. He looks forward to working closely with Bain Capital and the management team to enhance expansion prospects, consolidate market presence, and unleash the company’s full potential.
This investment was led by Bain Capital’s North America private equity team, which has a long history of building partnerships and supporting the growth of leading companies in the services and distribution industries.
With this acquisition, ServiceLogic joins the company’s extensive portfolio of service platforms, which includes Imperial Dade, USLPM, Frontline Road Safety, Dealer Tire, Guidehouse and Harrington Process Solutions.
Barclays and Jefferies served as joint lead financial advisors. Ropes & Gray provided legal advice to Bain Capital. Harris Williams and Goldman Sachs & Co. provided joint lead financial advisory to ServiceLogic, with JP Morgan and Morgan Stanley & Co. providing financial advisory. While Latham & Watkins assumed legal advice for Leonard Green.
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