Unity Partners, a principles-based private equity firm, has completed a strategic investment in The Byng Group, which provides comprehensive unit turnover services for multifamily properties and senior living facilities. CEO Scott Bunker will continue to lead Byng along with the existing team. Financial terms of the transaction remain undisclosed.
Based in Toronto and operating across Ontario and the Mid-Atlantic U.S., Byng offers services that include unit turnover, repair and maintenance, and larger renovations. Their asset-light, vendor-managed model, supported by proprietary technology, simplifies challenges for landlords by streamlining the turnover process and ensuring high-quality service.
With U.S. apartment turnover rates ranging from 20% to 50%, Byng is poised for growth as it expands into the U.S. market. Unity Partners emphasizes employee ownership in its investments, and Byng plans to introduce an Employee Purpose Plan for employees to share in the company’s success.
Kirkland & Ellis served as legal advisor, while PricewaterhouseCoopers LLP acted as financial advisor to Unity Partners.
KEY QUOTES:
“We are delighted to be partnering with Unity, whose operational insights will be essential to our growth and the enhancement of our offering. As we remain focused on providing a seamless client experience by implementing our services in a timely and cost-effective manner, we’re confident that our partnership with Unity will help us accelerate our trajectory.”
Scott Bunker
“This is a marketplace that has traditionally been served by independent contractors, but Byng’s fully integrated, end-to-end service offering and outstanding leadership team have established a strong position and are gaining share in the sector. We look forward to pursuing further organic growth initiatives and strategic M&A opportunities as we aim to scale efficiently in pursuit of our shared vision.”
Peter Cozzi, Investment Team Lead at Unity Partners
“We’re excited to support the business and collaborate alongside Byng’s passionate and hard-working team on several value acceleration initiatives. The Employee Purpose plan ensures that the entire team has the opportunity to benefit from Byng’s growth.”
Anna Fraser, Propel Team Vice President at Unity Partners
