Private Equity Wire
25 January 2022
Powerhouse Retail Services (Powerhouse), a portfolio company of private equity firm Lincolnshire Management, has acquired Advanced Service Solutions (Advanced), an outsourced business services provider.
The acquisition will provide additional estimation and contractor capacity to Powerhouse’s existing facilities maintenance service offering particularly in the pharmacy, grocery, and retail markets.
Financial terms of the private transaction have not been disclosed.
Advanced is the fourth acquisition for Powerhouse since Lincolnshire acquired Powerhouse and Security Vault Works in 2019 to create a leading national platform company providing refresh, remodel and facilities maintenance services to a roster of blue-chip customers nationwide including retail, foodservice, financial institution, hospitality, and healthcare companies.
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