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CCMP Capital Advisors To Buy BGIS From Brookfield Business Partners For $1 Bln

CCMP Capital Advisors, LP agreed Monday to acquire BGIS, a leading integrated facilities management company, from Brookfield Business Partners for about $1 billion. BGIS Chief Executive Officer Gordon Hicks and the management team will remain in place and work with CCMP to support the company's next phase of innovation and growth.

BGIS provides a full spectrum of customized facility management services, project delivery services, energy and sustainability solutions, asset management, workplace advisory and management, and real estate services to real estate and infrastructure owners and occupiers.

It is supported by a team of over 7,000 globally to manage over 320 million square feet of client portfolios across over 30,000 locations in Australia, Asia, North America and Europe.

The transaction is expected to close in the second quarter of 2019, subject to customary closing conditions.

Ropes & Gray LLP and McCarthy Tétrault LLP are acting as legal counsel to CCMP with assistance from Australian counsel, Clayton Utz. Morgan Stanley is serving as financial advisor to CCMP.

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