Porta Finance advises ISS on divestment of activities in Estonia
The divestment reflects ISS’s strategy of focusing on its core business in markets with significant future demand for Integrated Facility Services and markets of importance for global Key Account customers. ISS will continue to support the Global and Regional Key Accounts in Estonia. The buyers of the business in Estonia are Estonian and international private investors.
ISS Eesti AS is the largest facility services provider in Estonia, employing c. 1,500 employees and servicing over 700 commercial and over 20,000 residential clients across Estonia. With the transfer of shares, all employees and customers will be transferred to the new owners on existing terms. In the near future, the new owners and ISS will work together to ensure business continuity for its customers and support ISS employees in making a smooth transition.
On 10 December 2018, ISS had announced its intention to divest activities and business in certain geographies to accelerate the transition towards Key Accounts.
Porta Finance acted as an exclusive financial adviser to ISS. Porta Finance advised ISS on preparation and execution of a comprehensive divestment process.
ISS is a leading workplace experience and facility management company. In partnership with customers, ISS drives the engagement and well-being of people, minimises the impact on the environment, and protects and maintains property. ISS brings all of this to life through a unique combination of data, insight and service excellence at offices, factories, airports, hospitals and other locations across the globe. In 2018, ISS Group’s global revenue amounted to DKK 73.5 billion.
Further information:
Karl-Erik Kodu
Partner, Porta Finance
Tel: +372 602 5015
karlerik.kodu@portafinance.com
