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ISS Acquires Livit FM Services AG

ISS Acquires Livit FM Services AG
28 October 2022
 

ISS has announced its acquisition of Livit FM Services AG in Switzerland from its parent company Livit AG.

Expected to complete in Q1 2023, the deal will expand ISS’ cleaning and technical services delivery in Switzerland. Livit FM Services AG is owned by Livit AG, which is a subsidiary of Swiss Life insurance group.  Livit FM Services AG looks after a large proportion of the insurer Swiss Life’s properties in Switzerland.

Over 670 Livit FM Services AG  employees and key account contracts will move over to ISS Switzerland, representing around 0.5 per cent of ISS Group revenue. No sale price for the transaction has been disclosed

André Nauer, CEO of ISS Switzerland, said: “With the acquisition, we strengthen our position with a service enterprise of outstanding high quality, offering ISS Switzerland an opportunity to enhance our market position in the long term.

"Livit FM Services AG is a well-established provider of professional facility services and, like ISS, has a presence throughout Switzerland. With their know-how, the experienced and extraordinarily well-trained employees of Livit FM Services AG will assist us considerably in creating significant added value for our clients.”

Celia Liu, CEO of ISS Central and Southern Europe, added: “This transaction will help us grow in a key market for ISS within a prioritised segment. As part of our OneISS strategy, we are only considering acquiring businesses that align well with our strategy and where we see a natural fit to our existing business. The acquisition of Livit FM Services AG is a perfect match for us and will contribute to the continuous value creation in Switzerland.”

Picture: a photograph of ISS’ Swiss headquarters. Image Credit: ISS

Article written by Ella Tansley | Published 28 October 2022

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