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

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

Share



Related Articles

ISS Creates Net-Zero Roadmap for UK Government Department

The Department for Business, Energy and Industrial Strategy is working with ISS to help it achieve true net-zero across its property portfolio.  The...

 Read Full Article
ISS Confirms Net-Zero Commitment

ISS UK & Ireland has announced its new net-zero strategy – to reach net-zero for scope 1 and 2 emissions by 2030 and identify and measure scope 3...

 Read Full Article
Acorn Engineering Group Acquired by Cambridge Maintenance Services

The acquisition of Acorn by Cambridge Maintenance Services Group is complete, including Acorn Engineering, Marsh and AIS BMS.  Funded by investment...

 Read Full Article
Cordant Services Acquired by Bidvest Noonan

Bidvest Noonan has signed an agreement that will see Cordant Services join its group. This move will bring the total number of employees to more than 27,000 and...

 Read Full Article
Kingdom Services Purchases Facilicom Cleaning and Trigion Security

Kingdom Services Group Ltd has completed the acquisition of Facilicom Cleaning Services and Trigion Security Services. The move is intended to bolster...

 Read Full Article
An Unprecedented Twelve Months – Why Should a Company Get a Business Valuation Now? 

The ability to place an accurate value on your business is essential, particularly during challenging economic times, according to finance experts. A business...

 Read Full Article
Jones FM Acquires Funding From Thincats

Jones FM, the London-based facilities management company, has been supported with a share buyback funding package by finance provider...

 Read Full Article
New Appointments in Facilities Management – April 2021

ISS and NG Bailey are amongst the organisations that welcomed new appointments this April. Here are some of the latest staff changes within facilities management and...

 Read Full Article
Global Net Lease Acquires McLaren Group Headquarters

Global Net Lease has announced that they are to acquire the site that serves as the current world headquarters for McLaren's Automotive, Racing, and Applied...

 Read Full Article
Ecocleen Acquires The JPM Group

Ecocleen has acquired The JPM Group in a deal worth in excess of £5 million. Ecocleen, a commercial contract cleaning provider, has announced the...

 Read Full Article