Wind Point buys CCS as Silver Oak lifts revenue to $360 million

By Nathan Brooks

Wind Point Partners has acquired CCS Facility Services from Silver Oak Services Partners after the Denver-based commercial cleaning and facilities operator grew annual revenue to more than $360 million. Silver Oak said the completed sale ends an approximately 11-year investment partnership that took CCS from three states to 15.

Silver Oak said CCS was founded in 1988 and provides janitorial and broader facility services to commercial customers. The company serves commercial real estate, healthcare, education, government, corporate campuses and other industries. It delivers contracted, recurring services across 22 markets in the Western, Southwestern and Midwestern United States.

Silver Oak first invested in CCS in 2015. The private equity firm recapitalized the business with management in December 2021.

Eleven years of expansion

During the ownership period, Silver Oak backed initiatives intended to expand CCS's capabilities and geographic reach. The company developed a specialized sales organization for local customers and national accounts. It also opened seven branches in additional markets, improving its ability to serve customers operating facilities across multiple locations.

Silver Oak said CCS completed and integrated three complementary acquisitions during the partnership. The company also introduced a facility engineering service line, extending its work beyond traditional janitorial operations. Facility engineering supports building operations and maintenance, complementing recurring cleaning and facility management work.

Other investments included strengthening the executive leadership team and implementing a new enterprise resource planning and work order management platform. Silver Oak said the systems were intended to improve coordination across the company's growing network.

Silver Oak reported that CCS expanded from three states to 15 during its ownership. Its workforce more than doubled to exceed 7,300 employees, while annual revenue increased more than fourfold to over $360 million. Silver Oak also reported approximately 12% annual organic revenue growth over the 11-year period.

Silver Oak said the results reflect both expansion of existing operations and investment in additional business capabilities.

Greg Barr, managing partner at Silver Oak Services Partners, said:

“It has been a privilege to partner with Troy and the entire CCS organization. Through a series of strategic investments in the team and infrastructure, CCS has built a distinctive model that sets the standard in janitorial services.

The business is exceptionally well positioned for its next phase of growth, and we wish the team well in their new partnership with Wind Point Partners.”

Troy Coker, CEO of CCS Facility Services, said:

“Over the past eleven years, we have worked alongside Silver Oak to build CCS into one of the best companies in our industry. Silver Oak has been an exceptional partner, and I could not be more proud of what we have accomplished together.

Our success has come from an incredible team of people who share a relentless drive to be the best, an unwavering commitment to our customers, and a willingness to do the hard work that makes a difference.

We have built something very special together, and as proud as I am of what we have accomplished, I am even more excited about what lies ahead.”

What does Wind Point get from the CCS deal?

Wind Point Partners has bought an established facilities-services platform with operations across multiple U.S. regions, Silver Oak said. CCS's recurring service relationships are an important element of its operating model.

Commercial facilities depend on routine cleaning, maintenance and related services to support daily operations, Silver Oak said. That recurring need creates opportunities for providers capable of serving customers across multiple properties and geographic markets.

Silver Oak Services Partners describes itself as a private equity firm headquartered in Evanston, Illinois, specializing in lower-middle-market business, consumer and healthcare services companies. Founded in 2005, the firm generally targets control investments in businesses generating $15 million to $150 million in revenue. It is currently investing through its fourth fund, a $500 million investment vehicle.

Silver Oak said Harris Williams served as exclusive financial advisor to CCS and Silver Oak, while Troutman Pepper Locke provided legal counsel.

The sale closes a period of significant expansion for CCS and positions the company to pursue further growth under Wind Point's ownership. The next test for Wind Point is whether CCS can extend the branch, acquisition and service-line platform Silver Oak helped build while preserving its contracted service base.