Goldman Sachs to Acquire Majority Stake in Sila from Morgan Stanley

Goldman Sachs Alternatives will acquire a majority stake in Sila Services, a provider of HVAC, plumbing and electrical services, from affiliates of Morgan Stanley Capital Partners, subject to obtaining customary regulatory approvals. As part of the transaction, Sila management will continue to lead the company and retain a significant minority stake. Financial details of the transaction were not disclosed._x000D_
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“Sila is a truly special organization and a business we have been admiring from afar for quite some time,” Nicole Agnew, partner in private equity at Goldman Sachs Alternatives, said. “We are thrilled to partner with Jason Rabbino and the entire Sila team to further accelerate the company’s growth trajectory, organically and via M&A, building upon the impressive foundation they thoughtfully developed over the years.”_x000D_
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“I am very proud of what Sila’s team has accomplished in partnership with MSCP during this chapter of the company’s growth to build Sila into a truly distinctive residential services operating company emphasizing building careers for tradespeople and delivering consistent customer excellence,” Jason Rabbino, CEO of Sila, said. “We are excited to partner with Goldman Sachs on the next phase of the company’s growth, and benefit from its global platform, deep experience in consumer and consumer services sectors, and differentiated value creation resources.”_x000D_
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William Blair acted as lead financial advisor to Sila, with co-advisory support from Robert W. Baird Debevoise & Plimpton served as legal advisor to MSCP. Goldman Sachs served as exclusive financial advisor and Weil, Gotshal & Manges served as legal counsel to Goldman Sachs.