Milbank LLP advised Veritas Capital ("Veritas") on the regulatory aspects of its proposed acquisition of BGIS from CCMP Capital Advisors, LP and Alberta Investment Management Corporation, which signed on July 13. The transaction is expected to close during the fourth quarter of 2026, subject to customary closing conditions, including applicable regulatory approvals.
Veritas is a longstanding technology investor with over $54 billion of assets under management and a focus on companies operating at the intersection of technology and government. BGIS is a global leader in technical integrated facilities management (IFM) services, combining deep engineering expertise with proprietary technology to serve public and private sector clients across mission-critical environments.
Public sector agencies, commercial clients and operators of critical technology infrastructure rely on BGIS to manage and optimize their complex real estate portfolios on a global scale. BGIS combines a highly skilled technical workforce with a purpose-built Digital Facility Management platform to help clients improve operational performance, increase resiliency and maximize the value of their real estate assets. Today, BGIS manages more than 65,000 facilities totaling over 620 million square feet globally. Veritas plans to apply its technology investment experience to support BGIS' digital expansion, including greater investment in artificial intelligence, proprietary software capabilities and strategic acquisitions.
The Milbank team was led by Antitrust partners Fiona Schaeffer and Ajal Notowicz. The team also included Antitrust special counsel Alexis Brown-Reilly, and associates Charl van der Merwe and Emme Tyler.
