Hartford-basead FM Facility Maintenance has raised $12 million in a Series A preferred stock offering. The capital investment will be used for strategic acquisitions in the facility maintenance industry, according to a statement.
"Despite challenging capital and debt markets, we are pleased that the response from the investment community exceeded our goal of $10 million in new capital," said FM Chairman Jim Barnes.
"Our strong organic growth and robust business platform have proven recession resistant characteristics that investors find dynamic coupled with stable cash flows," said FM President and CEO Jim Reavey. "Retail customers are being forced to look at new ways to maximize service leverage while reducing cost which plays well for FM’s unique guaranteed rate model."





