Press RoomCFA Plays Pivotal Role in Sale of Starlight Building Maintenance, Inc.
CFA helped Starlight through a comprehensive process that leveraged the firm’s in-depth knowledge and experience. “The mechanics of determining business value and future cash flow was the element that created an optimal outcome for all parties” said Greg McKinley, Managing Director of CFA’s Nashville Office. “As the seller’s advocate, we place a premium on championing his interests," said Corporate Finance Associates CEO, Peter Heydenrych. He added, “To this end our work, on behalf of Starlight, is founded on our core belief that maximum benefit is derived from committing senior principals to the project from start to finish.” Founded in 1972, Starlight is a high-quality provider of janitorial and building maintenance services to regional and national grocery and drug store chains on the West Coast. The Company offers a full range of services, from basic daily cleaning and floor care to window cleaning and complete sanitary supplies. The combined company will be led by Mike Tie and Phil Williams, who founded Paramount in 2003. Paramount is a provider of outsourced janitorial services to the “big-box” retail industry. The Company currently services over 320 individual store locations in Arizona, Texas, Colorado, Oregon, Washington, Nebraska, South Dakota and Wyoming. Transaction Information On February 29, 2008, Starlight Building Maintenance, Inc. was acquired by Paramount Building Solutions, LLC, in a private transaction for an undisclosed value. Corporate Finance Associates served as financial advisor to Starlight Building Maintenance, Inc. About Corporate Finance Associates Corporate Finance Associates is a major investment banking services firm, with over 30 offices across North America providing middle-market companies with a wide range of financial advisory services and access to capital resources. From project inception to completion a senior principal guides clients through every challenge, advocates on their behalf, and leverages CFA's experience and extensive resources. More information is available via the Internet at www.corporatefinanceassociates.com Media Contact: |
Los Angeles, CA — March 10, 2008 — Corporate Finance Associates (CFA) a leading middle-market mergers and acquisitions firm, announced that it served as financial advisor to Starlight Building Maintenance, Inc. (Starlight) in the recent sale of the Burlingame, California based company. Starlight provides comprehensive custodial services to the “big-box” retail industry. The Company which specializes in multi-site service plans has been acquired by Paramount Building Solutions, LLC (Paramount), a provider of outsourced janitorial services.
