Westbridge Capital Ltd. (Westbridge), a private equity management company, announced today that it has acquired the business of Scopes Facility Services, LLC (Scopes), a premiere floor care and landscaping provider. Scopes operates in multiple states, providing commercial services to over 7,500 retail locations on behalf of two of the largest retail chains in the United States.
“Scopes fits our acquisition criteria perfectly - 27 years of continuously profitable operations is an enviable track record, we intend on working with Kevin Williams as incoming CEO to build on this record of success” said Michael Meekins, President of Westbridge. Meekins continues, “we are also very happy to have Jason Thomas continue as a partner with us and contribute his immense knowledge through his participation on the Scopes board of directors.”
Former Chief Executive Officer and newly appointed board member Jason Thomas said, “It has been a great honor to have served as CEO and help build Scopes into a premier facility services company. I’m looking forward to a partnership with Westbridge, as a director of Scopes, and continuing my 20-year working relationship with Kevin Williams as he leads Scopes on this exciting path to the future.”
Newly named Scopes Chief Executive Officer Kevin Williams said, “I’m looking forward to stepping into the role of CEO with Scopes. We have a number of ideas to accelerate growth, leveraging our dynamic employee base.”
Financing for the acquisition was arranged by Westbridge Capital Partners Income Trust, a mezzanine debt fund managed by Westbridge Capital Ltd.
For more information, please contact Malcolm Meekins at Malcolmm@westbridgecapital.ca.
About Scopes Facility Services, LLC
A premier floor care and landscaping provider with proprietary enterprise software. By being totally focused on the customer experience, over 27 years of operations - Scopes has never lost a single established service location.
About Westbridge Capital Ltd.
Westbridge is a private equity management company. Westbridge focuses on real estate and private equity investments that by their nature have little correlation to publicly listed securities and may be used to diversify a portfolio and reduce overall portfolio risk and volatility.
About Westbridge Capital Partners Income Trust
Westbridge Capital Partners Income Trust is a Mutual Fund Trust managed by Westbridge Capital Ltd. The Fund makes high yield loans to mature operating companies and distributes the associated income stream to investors.