HAUPPAUGE, N.Y., Oct. 2, 2024 /PRNewswire/ -- W Services Group ("W Services" or the "Company"), a market-leading provider of vendor-managed facility maintenance services to multi-site customers, and Bessemer Investors LLC ("Bessemer"), a New York-based investment firm, announced today that Bessemer has completed a significant investment in the Company. Bessemer will partner with W Services' existing management team, including Founder and CEO Matthew Whelan, who will continue leading the Company. Financial terms of the transaction were not disclosed.

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Founded in 2009 and headquartered in Hauppauge, NY, W Services provides cleaning, site refresh and remodel, and emergency response services to multi-site customers across North America. With industry-leading technology and a dedicated team of more than 250 employees managing a network of more than 3,000 contractor partners, the Company delivers consistent, high-quality results to a wide base of blue-chip customers across over 10,000 sites in retail, automotive, grocery, foodservice, distribution, and other multi-site end markets.

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Andrew Mendelsohn, Managing Director at Bessemer, said, "We are thrilled to partner with Matthew and the W Services team. W Services has developed a leading platform in the facility maintenance services space, serving high-quality customers who trust W Services as a true partner, whether for recurring services or emergency needs. We look forward to supporting the Company during its next phase of growth, both through organic initiatives and strategic M&A."

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Mr. Whelan commented, "We are immensely proud of the business that we have built over the last 15 years and could not ask for a better partner in Bessemer. This collaboration will allow us to further invest in our business to foster growth, while Bessemer's commitment to maintaining our culture and client-centric approach ensures that we will continue to serve our customers, employees, and business partners with the same excellence they have come to expect."

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Concurrent with the acquisition, Bill Hayden has been appointed as an independent member of the board at W Services. He brings over 20 years of industry experience to the position, most recently serving as Chief Executive Officer at FacilitySource, a technology and data-driven facility management business that was acquired by CBRE in 2018.

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EC M&A served as financial advisor and Garfunkel Wild, P.C. served as legal counsel to W Services. Raymond James served as financial advisor and capital markets advisor to Bessemer Investors, while Sidley Austin LLP served as legal counsel. Brightwood Capital Advisors provided debt financing for the transaction.

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About W Services Group
W Services Group is a leading provider of outsourced facility services, including cleaning, site refresh and remodel, and emergency response services. The Company is headquartered in Hauppauge, NY and provides services across North America. W Services' quality-focused employees and contract partners successfully develop, implement, and manage programs and projects for multi-site customers. For further information, please visit https://www.wservices.com.

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About Bessemer Investors
Bessemer Investors is a New York-based investment firm focused on partnering with middle market businesses to support growth and enhance value creation. Bessemer differentiates itself by combining a long-term, flexible capital base with a team of experienced private equity professionals. This approach offers unique solutions to Bessemer's partners and the flexibility to maximize long-term value. For further information, please visit https://www.bessemerinvestors.com.

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Contact:

Lambert by LLYC
Joanne Lessner, jlessner@lambert.com, 212-222-7436
Caroline Luz, cluz@lambert.com, 203-570-6462

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SOURCE Bessemer Investors

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