Tech-enabled facilities maintenance company Vixxo has bought CWFS, a Kansas-based site maintenance company, from Cushman & Wakefield.
The business is the “non-core” business that provides a “third-party supplier network” to a number of the agent’s clients across the US and Canada that was highlighted in Cushman & Wakefield’s results last week.
Chief executive Michelle MacKay did not name the company in the results presentation but said its sale would “further the company’s strategic focus on core long-term growth opportunities” and would “accelerate optional debt repayment”.
CWFS, formerly known as Quality Solutions, employs around 280 people.
Jim Reavey, president and chief executive at Vixxo, said the acquisition was a “pivotal milestone” for the firm and brought a “wealth of expertise that significantly enhances our service offerings and operational capabilities.”
UBS Investment Bank advised Cushman on the deal.
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