ISS has completed the sale of its pest control businesses in Australia, Austria, Belgium, Denmark, Germany, Italy, the Netherlands, New Zealand, Norway, Portugal, Spain and Switzerland to international service company, Anticimex.
The proceeds of the sale will be used to deleverage and pay down unnecessary debt for the global facilities services firm.
As part of the transaction ISS and Anticimex have agreed on a strategic partnership covering the 12 countries in which ISS’ pest control activities are acquired, where Anticimex will become the preferred partner for the delivery of pest control services to ISS customers.
Jeff Gravenhorst, Group CEO, ISS A/S, said:
“We are pleased to have successfully completed the sale of the pest control activities in these 12 countries. The sale is a result of our continuing streamlining and strengthening of our focus on those activities which are core to our business platform. With focus on mainly pest control and the vision of becoming one of the leading providers in the world, we are convinced that Anticimex will be a very good owner of our pest control activities. As earlier announced, we will use the proceeds from this divestment to further deleverage ISS.”
After the transaction, ISS will continue to have material pest control activities primarily in emerging markets.
The outsourced service provider has also announced changes in the board following the close of the divestment.
Steven Sher, Goldman Sachs and Harry Klagsbrun, EQT Partners AB are leaving the boards of ISS A/S and ISS World Services A/S. Andrew E. Wolff, Goldman Sachs, and Morten Hummelmose, EQT, have been elected new members of the board of directors of ISS A/S and ISS World Services A/S.
Morten Hummelmose is today Head of EQT Denmark. He joined EQT Partners in August 2006 and has been responsible for EQT’s investments in both DAKO A/S and KMD A/S.
Andrew E. Wolff is Head of Goldman Sachs’ Merchant Banking Division in Europe, the Middle East and Africa and Co-Head of the Merchant Banking Division in Asia Pacific.