International facilities services provider ISS Group has agreed to dispose of its specialist franchised business-to-consumer restoration business, Spectrum Franchising Limited and its parent company, in the UK.
The sale of the business to Consortium Group RF Ltd, a consortium group of franchise owners, will see 37 employees and support functions leave the ISS Group. The divestment is in line with ISS’s strategy to simplify its business to concentrate on key account clients.
The sale, for an undisclosed sum, forms part of its ongoing divestment programme, which targets about DKK2 billion (£231,599,261) in total net proceeds in 2021 and 2022. The transaction is subject to satisfaction of certain usual conditions, including antitrust approval.
ISS Restoration said it would continue to serve its commercial insurance and B2B customer base and that ISS Restoration’s teams, ranging from Property Team through to Complex & Major Loss divisions, “remain committed to maintaining their world-class customer service to their clients and their policyholders on a business as usual basis”.
Simon Titchener, COO and CCO of ISS UK and Ireland, said: “This is a strategic divestment for ISS which allows stronger focus on our core B2B clients, supporting our global strategy and operating model and our core purpose of connecting people and places.”
Steve Mitchell, managing director of ISS Restoration, which includes Spectrum Franchising Ltd, added: “I would like to thank the Rainbow Team and the franchised network for their support over the past 18 years. With Consortium Group RF, the franchised network can look forward to the next phase of development and for clients to experience the best service levels in the market.”
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