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Client:
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Professional Service Industries, Inc. (“PSI”) is the largest independent inspection and testing services firm serving the non-residential construction and property management markets. The Chicago-based firm services national, regional and local clients from its 96 branch offices.
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www.psiusa.com
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Transaction Summary:
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Brookwood Associates advised the shareholders of PSI, including its majority owner, Bain Capital, on the sale of the company to a middle-market private equity firm.
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"We were very pleased with Brookwood’s performance and the excellent results of the PSI sale transaction. Brookwood’s thorough approach, effective communication of the PSI story, and astute transaction management were both impressive and differentiating.“
- Phil Loughlin, Managing Director
Bain Capital
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Transaction Highlights:
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Recent History – PSI’s situation presented significant marketing challenges. First, a Wall Street investment bank had unsuccessfully attempted to market the business. Second, PSI’s business is cyclical, and it was not apparent that the non-residential construction industry had fully exited the trough of the cycle. Despite these obstacles, Brookwood portrayed the strengths and upside potential of the business in a way that captured full value.
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Effective Positioning – After conducting a significant amount of research and diligence, Brookwood built a comprehensive market-by-market projection model that outlined a reasonable view of the company’s potential. Additionally, a thoughtful information memorandum favorably positioned PSI and supported its position as the market leader in the highly fragmented industry.
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Strong Marketing and Negotiating – A broad marketing process generated numerous attractive offers. We were particularly successful at helping our client achieve a highly favorable indemnification structure.
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Excellent Results – The transaction significantly exceeded our clients’ value expectations.
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