CCMP Capital Advisors has initiated an early-stage sale process for BGIS, a Canadian commercial facilities service provider it acquired in 2019. The company, which manages over 30,000 global facilities, could fetch a deal value of approximately $2.2 billion at a 12-13x EBITDA multiple, according to sources familiar with the matter.

BGIS, formerly Brookfield Global Integrated Solutions, was purchased from Brookfield Asset Management for C$1.3 billion. The Markham, Ontario-based firm generated $180 million-$200 million in EBITDA over the past year and operates with a leverage profile of over 6x net debt to EBITDA. Infrastructure funds and business service-focused private equity firms are expected to show strong interest in the acquisition.

The potential sale comes amid a modest uptick in facilities services M&A activity, with private equity firms holding record dry powder. BGIS provides facility management, energy sustainability, and workplace advisory services to commercial clients and municipalities across more than 30,000 sites globally.