Atalian Buys Servest In £Multi-Million Deal

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25 April 2018

The Atalian Group has agreed to acquire the entire share capital of Servest Limited. Atalian is an international provider of facility services operating in 31 countries on 4 continents.

The consideration for the acquisition includes £457 million of enterprise value for Servest Limited and £83 million for Servest Limited's 28.8% equity investment in Getronics Services UK Limited.

The Atalian Group has had a commercial partnership with Servest through a joint venture, since April 2016.

Servest had total revenues of £456.8 million in the twelve months ended September 30, 2017. The Atalian Group will enter into a bridge facility loan to finance the transaction, which is intended to be replaced or refinanced with long-term indebtedness. As part of this transaction, the management of Servest Limited will invest a combined €37.0 million in La Financière Atalian S.A.S.

The consideration paid for Servest Limited also encompasses two companies currently being acquired by Servest Limited. The acquisition and the Servest acquisitions in progress are subject to customary closing conditions and are expected to be completed during the second quarter of 2018.

Atalian

As mentioned above, Atalian operates in 31 countries including France, Asia, Africa and the US, with consolidated revenue of €2.0 billion for the twelve months ended December 31, 2017. The company has 72,000 employees, serving 27,000 customers in both the private and public sector. Services include cleaning, technical maintenance and facility management, security, reception, landscaping and energy management.

Servest

Servest is predominantly UK focused, offering cleaning, contract catering and technical services.

Getronics

Getronics Services UK Limited is a multi-national provider of technology services (including software platforms, hardware sales, telecommunications solutions, and cloud services), providing workplace solutions for facility management specific products in the corporate, healthcare, and transport sectors, among others. The investment in Getronics, through the Servest acquisition, is expected to enable the Atalian Group to leverage a role in the workplace and smart building technology market.

Picture: Responsible procurement indeed.

Article written by Brian Shillibeer | Published 25 April 2018

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