November 16, 2015 / 4:48 PM / in 2 years

Blackstone to sell GCA Services to Thomas Lee, Goldman Sachs

(Reuters) - Blackstone Group LP (BX.N) said on Monday it would sell facility management company GCA Services Group Inc to a consortium of Goldman Sachs Group Inc’s (GS.N) private equity arm and Thomas H.Lee Partners LP.

The company did disclose financial details of the deal, but said GCA’s management team would invest alongside THL and Goldman Sachs as part of the deal.

Reuters reported on Sunday that Goldman Sachs and Thomas H. Lee will have an equal participation in a consortium that will acquire GCA for around $1 billion, including debt.

(Corrects to Monday from Friday in first paragraph)

Reporting by Rachel Chitra in Bengaluru; Editing by Savio D'Souza

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