Arlington Capital agrees $1bn J&J Worldwide Services sale to CBRE

Founded in 1970 and headquartered in Franklin, Tennessee, J&J has a comprehensive portfolio of facility support offerings for federal government and healthcare facilities, including aseptic cleaning, maintenance and engineering services, as well as a diverse range of facility management, operational support and integrated asset management services for US Department of Defense military hospitals and bases.

Closing of the acquisition is subject to obtaining applicable regulatory clearances and other customary closing conditions. Closing is expected in the coming months.

JP Morgan Securities is serving as financial advisor to J&J and Sheppard Mullin Richter & Hampton is serving as legal advisor to J&J and Arlington Capital Partners. Citi is serving as financial advisor to CBRE and Simpson Thacher & Bartlett and ArentFox Schiff are serving as legal advisors.

Source: Private Equity Wire