A group of investors and the management of ISS Ísland ehf. have signed a
purchase agreement with ISS World Services A/S for the purchase of all shares
in ISS Ísland ehf. Kvika banki acted as arranger of the acquisition on behalf
of the sellers, and BBA Legal acted as legal counsel.
The agreement is subject to conventional provisos, but
both purchasers and sellers are optimistic that the transfer of ownership will
be effected in full before the year-end. The purchase price is confidential.
The investor group comprises of investors with
significant experience in operation and management of services companies
worldwide and current executives at ISS Ísland. Among the investors is Patrick
de Muynck, former manager of the French contract catering firm Elior Group, and
Swedish fund management company EQT, which previously owned ISS and SSP Group
for a number of years. Elior, SSP, and ISS are among the largest firms in the
world in real estate and catering services. Other investors include Peter
Nilsson, former CEO of Duni and Sanitech, Einar Sveinsson and Benedikt
Sveinsson.
ISS
World Services A/S is a global leader in real estate management, with
operations in 53 countries. ISS began operations in Iceland in 2000, when it
purchased the janitorial department of Securitas. In the past 16 years, the
company has grown rapidly and vastly expanded its service offerings. Its
offerings centre on janitorial services, food service, other real estate
management, and coordinated service solutions. The company will continue to
operate under the ISS brand for the next two years, on the basis of a
cooperation agreement with ISS World Services A/S.