February 2017
Pristine Environments
Canaccord Genuity acts as exclusive financial advisor to Pristine Environments, Inc. on its sale to PE Facility Services, LLC
On February 28, 2017, Pristine Environments, Inc. (“Pristine” or the “Company”) was acquired by PE Facility Services, LLC, an affiliate of Great Elm Capital Management and MAST Capital Management.
Pristine engaged Canaccord Genuity on April 27, 2016 to analyze strategic alternatives and lead negotiations with prospective lenders and buyers. Despite significant headwinds – including deteriorating liquidity, key employee turnover, ongoing litigation, inconsistent financial reporting and delinquent accrued sales tax – Canaccord Genuity was able to drive a robust marketing process that culminated in the sale of substantially all of the assets of the Company outside of bankruptcy. As a result of the transaction, Pristine was able to deleverage its capital structure and eliminate various liabilities.
Pristine is a leading provider of integrated facility management services in nearly 150 million square feet of commercial buildings and specialized facilities throughout all 50 U.S. States and Canada. Headquartered in San Diego, California, Pristine’s team of approximately 1,750 professionals and 500+ vendor partners service an industry-diverse customer base including those within the life sciences, aerospace, datacenter, oil & gas, luxury retail, sports technology & fitness and commercial real estate sectors.
The North America Debt Finance & Restructuring team consisted of Geoffrey Richards and Michael Balistreri. This represents Canaccord Genuity’s 15th restructuring-related advisory transaction completed by the North American Debt Finance & Restructuring Group since 2014.
