Thomas H. Lee, Goldman Buyout Arm Said to Weigh Acquiring GCAby
Thomas H. Lee Partners and Goldman Sachs Group Inc.’s private-equity unit are among potential buyers of Blackstone Group LP’s GCA Services Group Inc., a provider of custodial services, according to people with knowledge of the matter.
Thomas H. Lee and Goldman Sachs’s consortium made an offer valuing GCA at about $1 billion, and there’s no guarantee it will prevail, Reuters reported earlier Wednesday. Blackstone, the world’s biggest manager of alternative assets, acquired the company in 2012.
GCA provides cleaning services to clients including schools, manufacturers, corporate offices and rental-car operators, according to its website. The Cleveland-based company has more than 37,000 employees and operates across most of the U.S.
Spokesmen for Thomas H. Lee, Blackstone and Goldman Sachs didn’t immediately respond to messages seeking comment.