FacilitySource

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Comment by Lou Pazderski on October 14, 2011 at 12:54am

BMO Mezzanine Fund Provides $10 Million in Financing to FacilitySource

COLUMBUS, Ohio (October 12, 2011) – FacilitySource, the leading global provider of facility maintenance and management solutions to retailers, has received an investment of $10 million from BMO Capital Markets’ Mezzanine Fund.

This infusion of capital will allow FacilitySource to fund growth and strategic capital expenditures, including expansion of its offices in North America and Europe, continued investment in its software applications to support retail facility management solutions, as well as pursue potential strategic acquisitions.

According to FacilitySource CEO, Bill Hayden, “FacilitySource has been growing 25-30% each year since we took our solution to market. The capital provided by BMO’s investment will allow us to double the capacity of our service optimization centers that support over two million helpdesk calls per year. We will also direct capital to drive innovations in the retail facility management industry - by creating new online applications and web-based communities to service our current and future clients.”

FacilitySource’s solutions support the facilities management function for North American and international clients in the retail, restaurant, automotive, and other industries with multi-site operations. Currently supporting over 55,000 locations in twelve countries, FacilitySource processes over $1 billion in annual expenditures – from sign and air-conditioning repairs to major capital projects and roll-outs. FacilitySource’s projected growth for the next three years includes creating 250 additional positions in its Columbus and Phoenix locations.

For more information about FacilitySource, visit www.facilitysource.com