The Leading News & Information Service For The Facilities, Workplace & Built Environment Community

Atalian Buys Servest In £Multi-Million Deal

Atalian buys Servest
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

Share



Related Articles

Doors Open On Billion Pound Servest-Aktrion Acquisition

Servest Group has acquired Aktrion, an international specialist in manufacturing support services - running critical parts of clients’ operations on a contract...

 Read Full Article
Smart Building Opportunities for Printed Sensors

Smart buildings promise automated control of the buildings’ operations, along with integrated technology for human-machine...

 Read Full Article
Cybersecurity – Are Smart Buildings and its Data Vulnerable to Malware Attacks?

As more and more of a building’s functions are automated and controlled via smart technology systems, has cybersecurity been an afterthought? In Boris...

 Read Full Article
Infogrid Raises $15.5m to Make “Any Building Smart”

Infogrid, the artificial intelligence technology company that automates facilities management and makes any building smart, has raised $15.5m from a combination of UK and...

 Read Full Article
22 Bishopsgate Complete

Europe’s first vertical village, 22 Bishopsgate, has reached completion. Powered 100 per cent by renewable energy, 22 Bishopsgate is designed to put people first...

 Read Full Article
IoT Sensors and Catering – Global Restaurant Chain Saved £1.25M in Food Stock

An IoT smart building system has helped a global restaurant chain in the UK save £1.25M during the first COVID-19 lockdown. Infogrid’s smart building...

 Read Full Article
World’s "First" Smart Building Assessment and Rating Programme Launches

A tool claiming to be the world’s first smart building programme that holistically measures building technology and performance has launched. Built by the...

 Read Full Article
Microsoft and Bentley to Develop Digital Twins for City Planning

Bentley Systems and Microsoft are to collaborate to accelerate smart city urban planning and smart construction. This alliance will combine Microsoft’s Azure IoT...

 Read Full Article
Digital Twin Technology and FM

Digital twins have been described as being able to provide “previously unthinkable” levels of operational control, asset performance management and...

 Read Full Article
Lidar Technology Could Speed up FM’s COVID-19 Response

What is lidar technology? And how can the facilities management sector leverage it to achieve safe operations? Dr Jun Pei, CEO and co-founder of Cepton Technologies...

 Read Full Article