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Partners Group, Kohlberg & Co buy into real estate restoration service BluSky

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Switzerland-headquartered buyout firm Partners Group has teamed with New York-based investment firm Kohlberg & Co to jointly acquire real estate restoration service provider BluSky Restoration Contractors.

BluSky specializes in real estate damage services that stabilize emergency situations and restore them back to pre-loss conditions. It provides restoration, remediation, environmental and preventative planning services for commercial, industrial, healthcare and multifamily real estate.

 

The firms said they will leverage their experience in commercial and facility services businesses to help BluSky grow national accounts, expand service capabilities, expand into new markets and partner with customers on ESG and workplace safety initiatives.

Mike Sexton, member of management, private equity atPartners Group, says, “All stakeholders involved in addressing unplanned-for building damage benefit from timely and high-quality restoration services to protect human safety, mitigate future damages, preserve property value and function, and restore operations and economic activity as rapidly as possible. BluSky is well-positioned to benefit from this increasingly important transformative trend, driven by a team that shares an extraordinary bond of loyalty, teamwork, service excellence, and relentless commitment to provide customers with an exceptional experience.”

Partners Group raised $6bn for the final close of its fourth flagship direct equity fund, and another $9bn through related private markets programmes and bespoke client solutions that will invest alongside the fund last month.

The firm’s recent investment in real estate includes acquiring a portfolio of eleven Travelodge hotels in Australia for AUD 620m in July to seize the opportunity of discounted assets from COVID-19.

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