Mitie acquires Interserve’s facilities management arm for £120m

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Interserve has completed the sale of its support services to Mitie for £120m in cash and 248 million shares in the company, representing approximately 17.5% shareholding in the company

The combined organisation will be evenly balanced between the public and private sectors and will be the largest facilities management (FM) company in the UK, employing more than 77,500 people.

The board of Interserve believes the transaction creates a larger and stronger UK FM business and is highly attractive to its stakeholders, including its employees, customers, partners and shareholders.

Mitie welcome Interserve colleagues

A range of new industry-leading benefits will be available to all colleagues including life assurance, a 24/7 virtual GP service, and an Employee Assistance Programme, as well as a range of other lifestyle benefits.

Colleagues will also have access to Mitie’s Learning Hub, development programmes, and apprenticeship courses. This investment in learning and development, combined with the group’s broad range of services and clients across every sector, means there will be even more opportunities for career progression.

In November 2019, Mitie became a Living Wage Foundation Recognised Service Provider. It offers a Real Living Wage based solution for each request for tender, highlighting it as the recommended option, and pays all staff in head office and core functions at least the Real Living Wage.

It has also recently made the decision not to bid any new contracts at the National Minimum Wage and will continue this approach moving forwards.

Embarking on a new chapter

Phil Bentley, chief executive of Mitie, said: “I want to extend a warm welcome to all the new colleagues and clients who are joining Mitie today.

“I recognise that there is much to do as we bring our two companies together, but I believe that we have an opportunity to shape the future of facilities management.

“By being the voice of the frontline and a standard-bearer for the industry, together, we will create a company we can all be proud of.”

Alan Lovell, chairman of Interserve, added: “I am delighted this transaction has now successfully reached completion.

“It will create the UK’s leading facilities management company, with strong prospects in both the public and private sectors.

“We have also progressed well with the disposal of non-core businesses as part of Interserve Group Limited’s business plan.

“We are now in a strong position to deliver on our objectives for our construction, Citizen Services and equipment businesses.

“We remain committed to the highest quality of service for our customers and are excited to be embarking on a new chapter.”

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