MBO at Facilities Services Group

24 February 2011

The management team at Facilities Services Group (FSG) has completed a £9m management buyout from the Spice Limited.

Managing Director, George Lilly and Executive chairman, David Simons of Facilities Services Group (FSG) announced this week that sees FSG breaking away from Spice Limited with support from NBGI Private Equity for the £9m deal. Both Lilly and Simons joined Spice Limited in 2009 with a mandate to lead an MBO. NBGI Private Equity has taken an majority stake in the company and is committing further capital to expand the FSG's range of services and delivery capabilities.
Facilities Services Group is an integrated services provider operating largely in the retail, leisure and property sectors. The company was created by Spice Limited following the acquisition of three related business in 2005-7. FSG was formed as a brand in 2008 through the merger of these companies - Circle Britannia, Serviceline and Atlanta Facilities.
From its head office at Aylesbury in Buckinghamshire FSG provides a nationwide service including reactive maintenance, compliance and managed services solutions directly delivered by 250 directly employed tradespeople and backed up by 20 field service managers.
George Lilley said: "FSG Group was non core to Spice’s ongoing operations. This deal represents a marvelous opportunity for us. We have great confidence in the business and its people and are well-positioned for future growth."
David Simons added: "We are delighted to have completed this transaction. The management team at FSG has a strong understanding of our customers’ needs and the many strengths that exist within our business. With the support of our funder, the MBO allows us to invest in developing our services even further."
David Simons and George Lilley have combined some 44 years’ experience in FM with companies including GSH Group, WS Atkins, Broadgate Estates and Middleton Maintenance.
www.facilities-services-group.co.uk