- Category: Deal Announcements
- Created: Tuesday, 21 April 2020 01:17
- Written by Craig Castelli
April 20, 2020
For Immediate Release
Caber Hill Advisors announced today that it advised Armstrong Building Maintenance (Armstrong) on its recapitalization with Revolent Capital Solutions. Caber Hill acted as the exclusive advisor to Armstrong Building Maintenance in the transaction.
Based in Honolulu, HI, Armstrong offers janitorial and facility services to commercial clients across various industries, including education, medical, hospitals, office, retail, shopping malls, and financial institutions.
Bryson Raver, Managing Partner of Revolent Capital Solutions based out of Tampa, FL commented, “For over forty years, Armstrong Building Maintenance has consistently provided service to recognizable corporations and institutions across the great state of Hawaii.
We were initially drawn to Armstrong due to their true sense of partnership with their customers and employees. The tenure of Armstrong’s client base was dramatically higher than we have seen in this industry, with relationships dating back to the 1970’s. Equally as impressive is the longevity of their employees, with a large number having twenty years or more of consistent service! We are excited to partner with Tom and the team to ensure the Armstrong legacy continues for the next forty years.
Tom Tokars, President of Armstrong Building Maintenance, stated, “Bryson and his team are the perfect fit to take our family business to the next level. We are excited about the future and being part of something special.”
Peter Holton, Caber Hill’s Managing Director covering the facilities services industries, led the transaction. “Tom has a unique brand in Hawaii that truly tailors to the client’s needs”, commented Mr. Holton. “It is clear that Armstrong goes above and beyond the call of duty to ensure client satisfaction which is exactly what Bryson Raver and his team from Revolent Capital Solutions were looking for in a partner.”
Tom Tokars, President of Armstrong Building Maintenance also commented on working with Caber Hill, “My brother and I took over the family business and this business has meant everything to us over the years. We were looking to find someone that we could trust and help us make the right decision on when to find a new partner for our business. Peter Holton is a hard working, trustworthy, and honest person. Peter and his team guided us through this process and we are forever thankful for everything he has done to help us find a true partner like Bryson Raver.”
The transaction closed on January 17, 2020. Specific terms of the transaction have not been disclosed.