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August 27, 2013

BGL Completes Transaction with Premier Integrated Facilities Maintenance Services Provider

Brown Gibbons Lang & Company (BGL) announced today the management-led buyout of Divisions, Inc., doing business as Divisions Maintenance Group (Divisions), a premier technology-enabled Integrated Facilities Maintenance company providing maintenance services for property managers and retail clients nationwide. BGL served as the exclusive financial advisor to and capital raising agent for select members of Divisions’ senior management team in connection with the acquisition of outstanding stock controlled by non-management shareholders. The capital used to fund the transaction was provided by PNC Bank and Caltius Mezzanine (Caltius). The specific terms of the transaction were not disclosed.

Divisions has grown rapidly since its inception in 1999 from a provider of maintenance services to a single location to managing over 250 million square feet from 34 field offices across the country. Divisions combines cutting edge site inspection and customer portal technology with boots on the ground for each account – a highly differentiated business model in the facilities maintenance industry. With core services in landscaping, parking lot maintenance, snow removal, plumbing, electrical, and handyman services, Divisions is dedicated to delivering uninterrupted peace of mind for its customers.

“The BGL team ran an extremely efficient process that minimized our involvement, enabling the Divisions management team to focus on executing our growth plan during the transaction process,” said Gary Mitchell, Divisions’ Founder, President & CEO. “BGL demonstrated a keen understanding of the critical value drivers of our business and produced an optimal solution under a tight timeline.”

“Even prior to us engaging BGL, John Tilson and his team provided us with objective advice with respect to which transaction structures would be available to achieve our goals,” commented Kyle Murray, Divisions’ chief strategy officer. “BGL’s extensive knowledge of and relationships in the financing markets proved invaluable for getting us to an optimal outcome.”

“We are excited to have the opportunity to back one of the premier players in the rapidly growing Integrated Facilities Maintenance Services space,” said Michael Kane, managing director at Caltius. “This transaction fits squarely in our sweet spot of backing proven entrepreneurs who possess a unique platform and clear vision for growth.”John Tilson, Joe Boleski, and Casey Sears led the BGL transaction team. Edward Steiner of Keating, Muething & Klekamp served as legal counsel to management.