This website uses cookies primarily for visitor analytics. Certain pages will ask you to fill in contact details to receive additional information. On these pages you have the option of having the site log your details for future visits. Indicating you want the site to remember your details will place a cookie on your device. To view our full cookie policy, please click here. You can also view it at any time by going to our Contact Us page.

Merger proposed for Interserve and Mitie

25 June 2020

Today saw the announcement for the proposed joining of Interserve Support Services with Mitie, subject to the approval of the Competition Markets Authority (CMA) and the latter's shareholders.

The deal has been valued at £271m, comprised of £120m in cash and a 23.4% stake in the Mitie business by Interserve shareholders.

If approved, the deal will see the Interserve public and private FM operations in the UK and overseas transfer to Mitie and is expected to be completed by the end of the year.

This morning's announcement stated that the transaction would create an enterprise employing more than 77,500 people, although no mention was made of whether redundancies in either operation were likely following the impact of the Covid-19 lockdown.

Following the transfer of its Support Services division to Mitie, Interserve Group will continue to operate its three remaining divisions, namely Construction, Equipment Services (RMD Kwikform) and Citizen Services.

The group will continue to be led by chair Alan Lovell and executive director and chief financial officer Mark Morris.

Mr Lovell said the deal "will create the UK's leading FM company, with strong prospects in both the public and private sectors providing significant opportunities to employees, customers and shareholders alike".

The announcement further stated that Lazard is acting as sole financial advisor to Interserve, with Slaughter and May acting as legal counsel.


Print this page | E-mail this page

https://www.fsifm.com/en-gb/


MOST VIEWED...

View more articles
Article image

PFM Partnership Awards 2020 finalists announced

The list of PFM Partnership Awards 2020 finalists was published at the end of last week, signalling the opening of this year's judging process....
Article image

FM Marketplace launched by CCS

Buyers of FM services from the government and the public sector have been provided with a new online procurement marketplace by the Crown Commercial Servic...
Article image

Why the Law Says You Need a Nappy Bin Disposal Service

At home, parents are used to disposing of their babies’ used nappies the same way they do any other domestic waste - bagging it up and sticking it in the r...
Article image

Workplace Continuity will be the special feature for PFM August issue

Following the series of special features included in PFM magazine since the start of the Covid-19 UK lockdown, the August issue will include a special feat...

Benchmarking maintenance

BSRIA has just published this year's operation and maintenance benchmarking report as a guide for building operators to evaluate their performance against ...
Article image

Salisbury launches new brand for next stage of growth

The facilities services company Salisbury Group today announces its new brand for the next stage of its growth story....
http://edition.pagesuite-professional.co.uk/Launch.aspx?EID=90a446e9-b640-4c4f-a33a-7895609807c4
Watch Sony’s webinar ‘Work After Lockdown’ on-demand now