French facility services provider, Atalian Group, has agreed to acquire leading provider of FM services in the UK, Servest Limited.
The consideration for the acquisition included £457 million of enterprise value for Servest Limited and £83 million for Servest Limited’s 28.8 per cent equity investment in Getronics Services UK Limited, a multi-national provider of technology services .
In the 12 months ended 30 September 2017, Servest Limited had total revenues of £456.8 million.
The Atalian Group has had a commercial partnership, through a joint venture, with Servest since April 2016, providing integrated FM solutions on a Pan-European basis.
The acquisition will provide the Atalian Group with a strategic foothold in the UK market and strengthen the international development of the Atalian Group.
The investment in Getronics, through the Servest acquisition, will enable the Atalian Group to play a leading role in the workplace technology market and provide a seamless FM and innovative technology offering to its growing client base and comes at a time when workplace management is increasingly focused on digital transformation through the development of smart buildings and the Internet of Things.
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.
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