15 February 2018 | Herpreet Kaur Grewal
Brookfield Global Integrated Solutions (BGIS), a Canadian global real estate and facilities management services provider, says it has entered into an agreement with the special manager for the official receiver to buy a large portfolio of Carillion FM contracts in the UK.
Under the terms of the transaction, BGIS will acquire a portfolio of UK contracts for delivery of services in the hospital, education, justice, transport and emergency services markets.
The transaction is subject to closing conditions, and is expected to close in the first quarter of 2018.
More than 2,500 Carillion employees will join the BGIS team upon closing, according to Gord Hicks, chief executive officer of BGIS.
Hicks said: "This deal provides continuity of services for a large number of customers providing critical infrastructure within the UK market. Our team is looking forward to engaging both customers and employees in the days ahead to effect the transaction and ensure a smooth transition."
Mark Marquis, chief commercial officer at BGIS, added that the company had "a long-established track record of serving federal and regional government as well as large corporate clients and onboarding complex, multi-site contracts around the world" .
He added: "With this transaction, we look forward to building a large presence in the UK facilities management market and providing customers with the same industry-leading service and capabilities that we do throughout the globe."
In January 2016, BGIS said it would acquire the remaining 50 per cent of the Canadian and Australian facilities management businesses from Johnson Controls Inc. Both companies previously held the businesses in a joint venture arrangement.