ISS UK Limited has today announced that it has successfully exchanged contracts to sell ISS Landscaping to Sullivan Street Partners, a Private Equity company, based in London. Completion is set for 30 April 2018.
The new company will trade under the name Tivoli and will continue to deliver excellence in grounds maintenance for public sector, defence and corporate clients across the UK. The senior management team will remain in their existing positions with Phil Jones continuing as managing director.
The sale will see the transfer of 1,100 operational staff and support functions to Sullivan Street Partners.
Phil Jones, managing director of ISS Landscaping, commented: “I would like to thank ISS for their support over the past several years building ISS landscaping into a strong grounds maintenance business it is today. Together with Sullivan Street, I look forward to the next phase of development where we will together make Tivoli the pre-eminent environment for talented staff to build a grounds maintenance focused career and for clients to continue to experience the very best service levels in the market.”
Layton Tamberlin, director at Sullivan Street, stated: “We have been highly attracted to the grounds maintenance market for some time and the business within ISS provides a fantastic base from which to grow. We are looking forward to meeting the transferring staff and working with them to make Tivoli a market leading independent grounds maintenance business in the UK.”
The transaction remains subject to satisfaction of certain conditions precedent customary in a transaction of this nature, including anti-trust approval.