Strategic acquisition bolsters Fidelity BSG’s building automation capabilities and furthers its position within the commercial and industrial facilities market.
TYSONS, VA (October 20, 2020) – Ascend Capital Group (“Ascend”) is pleased to announce its most recent transaction in the HVAC/mechanical space. Ascend served as the buy-side advisor to Fidelity Building Services (“Fidelity BSG”), a premier provider of high-performance building solutions, on its acquisition of Smart Building Technologies (“SmartBT”), a provider of comprehensive building automation systems (BAS).
An authorized factory representative of Distech Controls, SmartBT provides smart technologies and solutions to commercial properties in Maryland, Virginia, and Washington, D.C. This includes energy management systems, tenant services monitoring, critical systems monitoring, smart lighting solutions, and comprehensive overhauls for buildings with antiquated systems. Through its extensive service line offerings, SmartBT helps building engineers, managers, and owners ensure their properties operate at the highest efficiency.
“Throughout our entire portfolio of companies, Fidelity BSG is committed to providing our customers with the latest technologies and state-of-the-art systems that will allow their buildings to run efficiently and sustainably, and SmartBT is the exact kind of company that will further our vision and this promise to our clients,” says Dave Lanphar, Fidelity BSG CEO/Partner. “We look forward to exciting developments as we welcome all of the Smart Building Technologies team members to the Fidelity family.”
With over 1,250 team members, 23 locations, and 75+ years of experience, Fidelity BSG is a leading provider of integrated technical building services for the commercial and industrial facilities market. Product and service offerings include emergency generators/power systems/systems, building mechanical/HVAC systems, building automation & controls, and systems integration, with its core markets being commercial, industrial, and institutional facilities. Fidelity BSG is a portfolio company of Oaktree Capital Management.
Over the last two years, Fidelity BSG has embarked on a strategic national growth plan that has expanded its service line offerings and geographical presence in the Mid-Atlantic and Gulf regions. SmartBT adds another layer of BAS services to Fidelity BSG’s technical offerings.
“Ascend’s expertise and relationships within the space along with their tailored approach to our unique needs has been a winning combination,” Dave Lanphar added. “Part of our growth strategy is aimed at expanding our technical capabilities and SmartBT does just that and more. We look forward to working with them on future acquisitions as we continue to serve our customer base with cutting-edge technology, expanding capabilities, and broader geographic reach.”
“Fidelity BSG is steadfast in their commitment to redefining integrated technical building services for the commercial and industrial facilities market,” said Thien Van Tran, Vice President at Ascend. “This transaction is a phenomenal outcome for both companies and their customers, and Ascend is grateful for the privilege of working with these two exceptional teams to make it happen.”
This acquisition was effective October 1, 2020.
