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ISS to Sell Rainbow International Business

ISS to Sell Rainbow International Business
02 June 2021
 

ISS is to sell its specialist franchised B2C restoration business Spectrum Franchising Limited (Rainbow International) and its parent company in the UK.

The franchised business will be sold to Consortium Group RF Limited, a consortium group of franchise owners. 

As a result, 37 operational employees and support functions will leave the ISS Group.

 

Disaster Recovery Services

 

Rainbow International is the UK's leading supplier of disaster recovery and specialist cleaning services to a wide range of commercial and industrial organisations, as well as to property and homeowners.

ISS has stated that it will not disclose any proceeds from the sale.  However, the sale is a part of its ongoing divestment programme, which targets approximately DKK 2 billion (over £231 million) in total net proceeds in 2021 and 2022.

ISS Restoration will continue to serve its commercial insurance and B2B customer base. 

 

Image

 

Simon Titchener, ISS UK and Ireland COO and CCO commented: “This is a strategic divestment for ISS which allows stronger focus on our core B2B clients, supporting our global strategy and operating model and our core purpose of connecting people and places.”

Steve Mitchell, Managing Director of ISS Restoration, which includes Spectrum Franchising Limited, added, “I would like to thank the Rainbow Team and the franchised network for their support over the past 18 years. With Consortium Group RF, the franchised network can look forward to the next phase of development and for clients to experience the best service levels in the market.”

Picture: a photograph of the Rainbow International logo Image Credit: Rainbow International 

Article written by Ella Tansley | Published 02 June 2021

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