A significant equity investment has not only strengthened ISS’s commercial and financial position, it also has the world’s largest facility services company on-track for an IPO within a few years.
Global long term investors Ontario Teachers’ Pension Plan (Teachers’) and KIRKBI Invest A/Shave have agreed to invest EUR500 million in ISS. The current owners, funds advised by EQT Partners(EQT) and GS Capital Partners funds (GSCP), are not selling any shares as part of the transaction, and will remain majority owners of ISS.
“The board of directors of ISS is very pleased to welcome such respected and successful long term investors to ISS. This is a testament to the strength and attractiveness of ISS as an investment opportunity. Together with our two majority owners, the board will work closely with the new investors on ISS’ value creation,” stated Ole Andersen, ISS A/S chairman.
“ISS is on track to significantly deleverage ahead of an IPO within a few years,” he added.
ISS A/S group CEO Jeff Gravenhorst noted, “We have come a long way in our transformation over the last years, and this new investment, is a step further on the journey of making ISS the world’s leading service company for our customers and for our more than 530,000 employees.
“We believe that ISS is the only company which has the platform from which we can integrate and self-deliver a complete set of facility services across the globe – recently proven by two of the largest contract wins in the history of our Company. This new investment will further strengthen our Company’s commercial and financial position.