Caymus Equity Partners (“Caymus Equity”) announced the sale of its portfolio company, Hospitality Staffing Solutions (“HSS” or the “Company”) to Kellermeyer Bergensons Services, LLC (“KBS”). The sale, which closed on January 10, 2020, marks the fourth full exit for Caymus Equity Partners.
Headquartered in Atlanta, Georgia, HSS offers a comprehensive suite of supplemental staffing services including; housekeeping, food services, laundry and groundskeeping; outsourcing solutions for day-to-day management responsibilities, and; a full suite of janitorial cleaning solutions. The Company primarily serves the hotel, casino and resort markets with a specialization in the support of four and five-diamond properties.
Caymus Equity has had a long relationship with HSS, dating back to 2006. “During Caymus Equity’s ownership of HSS, we successfully executed on a variety of strategic initiatives enabling the Company to experience strong growth,” said Geoffrey Faux, Caymus Equity Managing Partner. “HSS’s success underscored Caymus Equity’s ability to professionalize, diversify and transform a business during our investment horizon. In conjunction with management, we were able to expand HSS’s geographic footprint while diversifying industry verticals through 14 greenfield locations and two meaningful acquisitions to cover 38 states and Puerto Rico to support more than 1,000 properties.”
Ollie Maggard, Caymus Equity Managing Partner, commented “The HSS sale represents the fourth full realization for Caymus Equity and is representative of our ability to offer a breadth of proprietary knowledge and relationships, allowing us to contribute to the success of our portfolio companies beyond just capital investments. Partnering with HSS management and Littlejohn during our investment period, we were able to leverage each party’s experience to transform HSS into the industry leader that it is today.”
Tim McPherson, CEO of HSS said, “We are excited to be pairing with KBS for HSS’s next phase of growth. Under the partnership of Caymus Equity and Littlejohn, HSS has become a nationally recognized partner to hotel, casino and resort operators, offering the highest quality of staffing and outsourced management solutions. Leveraging KBS’s technology and industry experience, HSS is well positioned to continue expanding into new geographies and differentiated service offerings.”