We are pleased to announce the sale of our client, Source Management, Inc., to TKO Suites. The acquisition closed July 20, 2020 and details were not disclosed.
Source Management (also known as Source Office Suites), located in Reston, Virginia with four locations, provides office suites in the greater Washington Metropolitan area with full service to its tenants.
The Company’s business centers provide clients with excellent facilities, professional services, and flexible solutions at competitive prices. Their strong commitment to quality in offering versatile office space solutions, extensive business services, and state-of-the-art technology is key to maintaining their prominence in the metropolitan Washington, DC business center environment.
TKO Suites (or Turn Key Office Suites) is an independent office suite provider focusing on providing independent working professionals and budding entrepreneurs affordable office space solutions in New York City. The Company has three locations in the NYC metro area.
The Company was created to help businesses establish a more professional impression for their clients, without the expenses and problems of a traditional office lease.
Generational Equity Executive Managing Director, M&A-Technology Practice Leader, David Fergusson, and his team led by Senior M&A Advisor, Pete Pryor, with support from Vice President Mergers & Acquisitions, Corey Painter, successfully closed the deal. Senior Managing Director Thomas Hamm established the initial relationship with Source Management.
“I found working with the seller, who is an exceptional person, and the buyer very helpful in helping to close the transaction. This after the buyer and I worked through a number of hurdles that could have derailed the transaction. This was a true win-win for both parties,” said Pryor.
If you’d like to explore other transactions our associates have supported in this industry, visit our dedicated Business Services M&A Deals page.
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