Support Services of America, Inc. (SSA) has announced the closing of a debt refinancing and growth recapitalization with Praesidian Capital. FocalPoint Securities served as SSA’s exclusive financial advisor on the transaction.
SSA is a provider of janitorial and facilities maintenance services to a variety of industries and clients including Fortune 1000 companies, healthcare providers, retailers, business institutions and federal customers nationwide. The company’s dedication to consistently deliver high-quality services has propelled the company into one of the nation’s fastest growing janitorial and facilities services companies in the country and helped the company establish itself as a premier brand name in the industry.
Alex Fortunati, founder and CEO of SSA, said, “We are delighted to close this transaction with Praesidian Capital, and I am hopeful that with our new partner, we will continue on our proven path of success. FocalPoint ran a highly competitive process to identify the best possible capital provider for SSA, and in Praesidian we have found an investor who understands our business. The FocalPoint team demonstrated tremendous resolve and market savvy to bring this deal to a successful close, and we are excited to work with them as trusted advisors in the years to come.”
Nishen Radia, managing director at FocalPoint, stated, “SSA has demonstrated impressive, industry-leading growth over the past decade, and the closing of the balance sheet recapitalization by Praesidian will position the Company well to continue its robust organic growth and acquisition strategy. We congratulate Alex and his team and look forward to working with them on more transactions going forward.”
Thomas Mills, managing director at FocalPoint, commented, “Praesidian has proven itself to be a cooperative and creative investor in middle market businesses, and we are excited to bring them together with SSA. This transaction represents another successful financing for FocalPoint’s debt placement practice, and demonstrates our ability to run effective capital placement processes to drive successful outcomes for our clients.”
Praesidian Capital partners with small- and mid-sized businesses by providing private debt capital.
FocalPoint is an independent investment bank with offices in Los Angeles and Chicago, specializing in mergers and acquisitions, private placements (both debt and equity), and financial restructurings/workouts.