The Company provides kitchen exhaust cleaning (KEC) services to the restaurant industry and fire prevention (FP) services to the restaurant and retail industries. In order to better manage their network of contracted service partners and to provide enhanced facilities management functionality for its customers (owners of multi-unit restaurant and retail stores), the Company also developed an internal software platform.
Trestle was initially asked to advise the Company on strategies related to potentially forming a separate software entity to sell its internal software asset to third parties. As those discussions continued, the owners of the Company engaged Trestle to explore either an outright or a partial sale of the business as a catalyst to determining the future of the software asset.
The Company’s KEC and FP operating units were sold to a publicly traded acquiror in a cash transaction. In parallel with the sale, the software asset was spun out into a separate entity that sells the software as a stand-alone product to both facilities managers and facilities service providers.