Cyprium Partners Exits Successful Minority Investment In Kellermeyer Building Services, LLC
Maumee, OH– January 10, 2011 – Key Principal Partners Corp. (“KPP”), a $1 billion private investment firm, announced today the realization of its investment in Kellermeyer Building Services, LLC (Kellermeyer). Kellermeyer (www.kbs-clean.com) is a leading provider of “self-perform” contract cleaning services primarily to large format retailers throughout the United States.
KPP led a $36 million subordinated debt and preferred equity investment in Kellermeyer in February 2007 through an innovative structure that allowed the Company’s management team to re-acquire a controlling interest in the business. KPP worked in close partnership with management on various strategic issues, contributing in part to the greater than 30% revenue growth that Kellermeyer experienced during the investment despite a difficult underlying economic climate.
About Key Principal Partners
Key Principal Partners (KPP) is a $1 billion private investment firm that provides expansion capital to profitable middle-market companies with at least $30 million in revenue. The firm has the flexibility to provide any combination of subordinated debt, preferred equity and/or common equity in either non-control (minority ownership) or control (majority ownership) positions. KPP can invest between $10 million and $40 million to facilitate the growth, acquisition, refinancing, deleveraging or liquidity needs of private company owners and their management teams. Affiliated with KeyCorp, KPP is headquartered in Cleveland, and has additional offices in Greenwich, and San Francisco.