OTPP and KIRKBI Make EUR 500 Million Equity Investment in ISS
The press release states, “Global long term investors Ontario Teachers’ Pension Plan (Teachers’) and KIRKBI Invest A/S have agreed to invest EUR 500 million (approximately DKK 3,721 million) in ISS, a leading global provider of facility services. The current owners, funds advised by EQT Partners (“EQT”) and GS Capital Partners funds (“GSCP”), are not selling any shares as part of the transaction, and will remain majority owners of ISS.
“The board of directors of ISS is very pleased to welcome such respected and successful long term investors to ISS. This is a testament to the strength and attractiveness of ISS as an investment opportunity. Together with our two majority owners, the board will work closely with the new investors on ISS’ value creation. ISS is on track to significantly deleverage ahead of an IPO within a few years,” said Ole Andersen, Chairman of ISS A/S.
“We have come a long way in our transformation over the last years, and this new investment, is a step further on the journey of making ISS the world’s leading service company for our customers and for our more than 530,000 employees. We believe that ISS is the only company which has the platform from which we can integrate and self-deliver a complete set of facility services across the globe – recently proven by two of the largest contract wins in the history of our Company. This new investment will further strengthen our Company’s commercial and financial position,” said Jeff Gravenhorst, Group CEO of ISS A/S.”
Read more: OTPP Press Release
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