Vestar Capital Partners, a leading middle-market private equity firm, has acquired Stratus, a market-leading asset-light facilities services provider, from Arcapita Group Holdings, a global alternative investments firm. Terms of the transaction were not disclosed.

CEO and founder Tim Eippert and the Company's senior leadership team will continue to lead StratusĀ  and will reinvest in the transaction alongside Vestar. Arcapita will also retain a minority stake in the Company.

Founded in 1953 and based in Mentor, OH, Stratus serves a highly diversified base of blue-chip customers including some of the leading Fortune 100 brands in 50 states and 24 countries across a broad range of end markets, including healthcare, financial services, QSR, convenience stores, and telecom. The Company offers best-in-class customer service and integrated solutions, enabled by a differentiated technology suite and unmatched expertise and scale. Under Arcapita's ownership, Stratus more than tripled its revenue to over $300 million, while completing multiple add-on acquisitions to expand the Company's customer base and product offerings.

William Blair and Citizens M&A Advisory acted as financial advisors and King & Spalding served as legal counsel to Stratus. Robert W. Baird & Co. acted as financial advisor and Kirkland & Ellis LLP served as legal counsel to Vestar.