Atalian pays £540 million for Servest Limited
French Group Atalian, has acquired Bury St Edmunds based facility management company Servest Limited.
Servest has offices in Bury St Edmunds, Leeds, London and Edinburgh and provides a range of facility management services across the UK, including cleaning, contract catering and technical services.
The company has an annual turnover of £457 million, with around 23,000 people working at 7,000 client sites across the UK.
The Atalian Group is based in south east Paris and is a leading international provider of facility services. It operates in 31 countries and had revenues of €2.0 billion in 2017, of which 40 per cent was generated outside France. With over 100,000 employees and 27,000 customers, Atalian provides a range of services including cleaning, technical maintenance and facility management, security, reception, landscaping and energy management.
The deal includes £457m for Servest Limited and £83 million for Servest Limited’s 28.8 per cent equity investment in Getronics Services UK Limited. The PwC Cambridge Deals team, led by Stephen Hart, worked closely with Atalian and Servest over a period of months to facilitate the transaction and negotiate associated terms.
Hart said: “We’re delighted that PwC was closely involved with Atalian and Servest in advising on this important acquisition, which is one of the most significant deals in the East Anglian market so far this year.
“The UK facilities management market is one of the most dynamic in Europe and the acquisition will allow Atalian to achieve critical mass in the UK while facilitating Servest’s continued organic and acquisition growth strategy.
“The deal also opens the door to a new range of in technology solution with the potential to drive digital transformation and productivity gains across the workplace and facilities management industry.”
The consideration paid for Servest Limited also encompasses two companies that it is currently acquiring. The acquisition and the Servest acquisitions in progress are subject to customary closing conditions and are expected to be completed during the second quarter of 2018.
In addition to providing the Atalian Group with a strategic foothold in the UK market and strengthening the international development of the Atalian Group, the investment in Getronics will provide access to a multinational provider of technology services, including software platforms, hardware provision, telecommunications solutions and cloud services.
• PHOTOGRAPH SHOWS: Stephen Hart