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Private equity group sells Faceo to Vinci Facilities

06 May 2010

A new force in European FM has been created with the announcement last week In France that Apax Partners SA had signed an exclusive agreement with VINCI to sell the Faceo group

Vinci Facilities has significantly grown its business with the acquisiton of Faceo across Europe.  It is understood that the Faceo brand will be retained within Vinci Facilities in much the same way as the Taylor Woodrow brand has been retained following its acquisition by the company.
Faceo has just won several significant contracts including delivering total FM services across 60 locations in the UK for Orange, six UK and Eire locations for Orange Business Services,  and five London locations for Universal Music. Furthermore, news of its acquisition by Vinci Facilities follows Faceo's announcement last month of the formation of Mainstream FM Services for companies seeking a single multinational FM service provider for all European locations. Read More
Statement from Vinci issued from  Paris 30/4/2010:  Vinci announces the signature on 29 April 2010 of an exclusivity agreement with APAX Partners SA to acquire Faceo. Faceo is a major player in Europe’s facilities management  market. The company provides integrated solutions for service sector maintenance, with activities in engineering, systems integration and multi-service and multi-technical maintenance within the framework of multi-year contracts. With 2,500 employees, Faceo generated revenue of €430 million in 2009, of which 30% outside France.
The objective of this transaction is to support and add momentum to the creation within the Energies division* of VINCI Facilities, where most of the Group’s facilities management activities will be concentrated. Faceo will contribute, in particular, expertise in providing integrated solutions across a number of sites and countries. It will also provide the ability to respond to the changing requirements of major private and public companies, which are increasingly seeking a comprehensive solution for the maintenance of their service sector infrastructure.
With the integration of Faceo, VINCI’s facilities management business would represent revenue of over €1.3bn, contributing significantly to the Group’s long-term contract activities that generate recurring revenue streams.
In accordance with legal and regulatory requirements, the project will likely be subject to review by employee representative bodies prior to submission to the appropriate competition authorities.
Statement from Apax issued from Paris 29/5/2010: “By joining forces with the world’s leading integrated concession-construction group, Faceo will enter a new phase in its development. Faceo has become in a few years a leading European player in Facility Management. As a global player, the group covers a wide range of activities based around support services for buildings and their occupants (including cleaning, maintenance, security, remote monitoring, document management, reception, property management, etc.).
Faceo has developed an expertise to provide those services on several sites and in several countries, which is critical to meet the needs of large European groups.
Since its acquisition from Cegelec and Thales in 2007, Apax funds have actively supported Faceo’s successful growth. The group has completed six acquisitions in different areas of expertise, enabling the group to strengthen its positions in Europe and enlarge its service offering. The group has significantly enriched its portfolio of client through major contract wins, particularly the significant one signed with the American group Delphi for the management of its European sites.
With a presence in about 20 countries in Europe and in the Middle East, Faceo has 2,500 employees today, compared with 1,500 three years ago. Its revenues increased from €349m in 2006 to €430m in 2009, and 2010 should record the benefit from the recently signed contracts.
Monique Cohen, Partner at Apax Partners, said: “We are proud we have been able to back Serge Clemente and his management team and to help them drive the significant growth of the group, both organically and through acquisitions. We are confident that Faceo, with its professionalism and dynamism, will continue on its growth path with the support of VINCI.”
In accordance with legal and regulatory requirements, the project will likely be subject to review by employee representative bodies prior to submission to the appropriate competition authorities.

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