Blue Sage Capital Invests in Clean Team

AUSTIN, Texas--(BUSINESS WIRE)--Blue Sage Capital (“Blue Sage”) is pleased to announce its recently completed investment in Clean Team, LLC (“Clean Team” or the “Company”), a provider of commercial janitorial and facilities-cleaning services headquartered in Toledo, Ohio. The transaction represents a new strategic partnership between Blue Sage and Clean Team’s founder and CEO, Bob Armbruster, who will continue to lead the Company and retain majority ownership.

Founded in 1996, Clean Team has grown into a scaled regional platform, operating 18 branches across 13 states and serving a diversified base of commercial, healthcare, industrial, and education clients. The Company is distinguished by its direct-employed workforce model and has built a reputation for service quality and longstanding client relationships. The investment provides Clean Team with growth capital and an institutional partner to support the Company’s continued organic expansion and disciplined acquisition strategy.

Bob Armbruster, Founder and CEO of Clean Team, commented, “After building this business for 30 years, finding the right partner for our next chapter was not a decision I took lightly. Blue Sage stood out for their genuine respect for what we’ve built and their commitment to supporting our team and culture as we continue to grow. I’m excited to have a thought partner with the financial and operational resources to help us continue to scale.”

Jonathan Kaskow, Partner at Blue Sage, stated, “We are thrilled to partner with Bob Armbruster and the entire Clean Team organization. Bob has built an exceptional business with an impressive track record of growth. We look forward to supporting the Company’s continued growth within existing markets and targeted expansion into new geographies.”

Blue Sage was represented in the transaction by Queen Saenz + Schutz PLLC (Legal), Kroll (Accounting), Cherry Bekaert (Tax), and Lockton (Insurance & Benefits). Capital One and Fifth Third provided debt financing for the transaction.

Clean Team was represented in the transaction by BlackArch Partners (Financial Advisor) and Holland & Knight LLP (Legal).

About Clean Team

Clean Team is a commercial janitorial services provider serving a diversified set of customers across industrial, healthcare, office, higher education, and other commercial end markets. The Company operates 18 branches across 13 states and has integrated 13 add-on acquisitions to date.

About Blue Sage

Blue Sage Capital is an Austin, Texas-based private equity firm that has been investing in profitable, growing, lower middle-market companies since 2002. Blue Sage currently has over $1.2 billion of assets under management and seeks to partner with founders, families, and management teams as the first round of institutional capital for businesses that enjoy leadership positions in niche manufacturing, environmental solutions, or specialty services industries. Blue Sage typically invests $25 million to $60 million in buyout investments and recapitalizations of companies with $25 million to $200 million of revenue.

The statements regarding Blue Sage presented herein were made by certain founders and executives of Blue Sage’s current and/or former portfolio companies. These individuals are not, and have not been, clients or investors in any Blue Sage fund. The statements made by the founders and executives of Clean Team constitute an endorsement of Blue Sage. Blue Sage holds a financial interest in Clean Team through investment funds or accounts it manages. As such, the individuals providing these endorsements may have a conflict of interest and an incentive to portray Blue Sage in a favorable manner due to this existing business relationship. While no direct compensation was provided by Blue Sage in connection with these statements, Clean Team may benefit from an ongoing or future investment relationship. These endorsements are not a guarantee of future investment performance and should not be construed as a recommendation to invest in any Blue Sage fund, strategy, or portfolio. Past performance is not indicative of future results, and all investments involve risk, including the potential loss of principal. This material is provided for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security.