The business is to be sold for a cash consideration of approximately £3.6 million, with the potential for further cash consideration of £1 million subject to the business achieving certain financing targets for the financial years 2018 and 2019.
The business comprises of Interserve’s provision of scaffolding services to housebuilders and other contractors as well as its SIP (Scaffolding, Insulation & Painting) services to large industrial sites.
Scott Hardie will continue to lead the business as Managing Director.
Debbie White, Chief Executive Officer at Interserve, said: “We are pleased to announce the sale of the access and hard services business as part of Interserve’s strategy to focus on core customer segments.”
Together with the closure of IISL’s power activities earlier this year this concludes Interserve’s exit from its industrial contracting activities.