B and B Maintenance, Inc. (“B&B”), a leading Illinois-based janitorial services provider with more than 40 years of operating history, has been sold to Neatland Holdings, in partnership with Apis & Heritage. Wipfli Corporate Finance served as the exclusive financial advisor to B&B.
Founded in 1979, B&B has established a long-standing reputation for quality, competitive pricing and a commitment to service. Today, the company serves blue-chip customers across roughly 20 states and employs more than 1,100 full-time and part-time professionals who deliver a comprehensive suite of services, including deep cleaning, building maintenance and facility enhancements.
The transaction introduces Apis & Heritage Capital Partners (A&H) as the new steward of B&B through A&H’s innovative employee-led buyout model — an approach designed to create broad-based employee ownership and build wealth for frontline workers. As part of the transition, A&H will partner closely with B&B’s management team to apply its ownership culture framework, strengthening operational excellence, communication and engagement throughout the organization.
The transaction was further supported by Neatland Holdings, a facility maintenance investment group with deep expertise in commercial cleaning operations. Neatland will continue in management roles at B&B, with Daniel Ik-Obazee assuming the role of President and Terry Cooley serving as Human Resources Senior Advisor. “We look forward to building on B&B’s strong foundation in partnership with Apis & Heritage,” said Ik-Obazee. “Employee ownership will empower our workforce and drive long-term success for all stakeholders.”
Investment banking services provided by RKCA, Inc., Member SIPC/FINRA, 1077 Celestial Street, Cincinnati, Ohio 45202. Phone: 513.371.5533. Certain Wipfli Corporate Finance Advisors, LLC associates are registered representatives of RKCA, Inc. Wipfli Corporate Finance Advisors, LLC is a subsidiary of Wipfli LLP. Certain accounting, tax, business advisory, and other services are provided by Wipfli LLP. RKCA, Inc. does not provide accounting, tax or legal advice. Investing involves the risk of loss. Past performance is not indicative of future results.
The persons providing the testimonials herein have experience in the services that were provided by RKCA/WCF. Their respective experience with RKCA/WCF may not be representative of all other Clients of RKCA. Testimonials are not paid for by RKCA/WCF. Testimonials do not constitute a guarantee of future performance or success related to any product, transaction or service.
This information should not be construed as a recommendation, offer to sell, or solicitation of an offer to buy a particular security or investment strategy. The commentary provided is for informational purposes only and should not be relied on for accounting, legal, or tax advice. Though the information is deemed reliable, Wipfli Corporate Finance Advisors, LLC cannot guarantee its accuracy, completeness, or suitability for any purpose and makes no warranties with regard to the results to be obtained from its use. Past performance does not guarantee future results.