ISS has announced the divestment of its activities in Iceland, to a group of international and Icelandic investors.
According to the global facility services company, the move reflects its strategy of focusing on its core business in markets with significant demand for Integrated Facility Services and markets of importance for international key customers.
ISS has been operating in Iceland since 2000 and in 2015 reported an annual revenue of DK 130 million (£14.7 million).
All of ISS’ customers in Iceland and its 695 employees will transfer to the new owners on existing terms.
Troels Bjerg, regional CEO of ISS Northern Europe, said:
“Focus on our core markets, including sales and delivery of integrated facility services (IFS) to large global and regional customers, is central to the ISS strategy. We continuously review our activities to ensure that they support our strategy and core business. Iceland is a relatively small market with limited potential for IFS solutions, and our existing global and regional customers are typically not present in Iceland. With the sale, ISS will be able to better focus on our core business in the remaining Nordic countries, where we are a market leader.
“Against this background, we are now selling our Iceland operation to a group of local and international investors who can operate and develop the business further and have a strong local knowledge of the market.”