The group of investors that has signed a purchase agreement with ISS World Services A/S for the purchase of all shares in ISS Ísland ehf. was led by Fossar Markets AB in Stockholm.
The financial terms are confidential and the agreement is subject to local competition authority approval. Both seller and purchaser are optimistic that the transaction will be fully finalized before the end of the year.
The investor group is comprised of investors with significant experience in operation and management of services companies worldwide and the current management of ISS Ísland.
“It was an exciting project with a mix of domestic and foreign investors,” says Andri Guðmundsson, MD Nordics for Fossar Markets. „The foreign investors became involved in the project through Fossar Markets’ network in Stockholm,“ he says. Fossar Markets opened their offices in Stockholm last August.
Among the investors is Patrick de Muynck, former manager of the French contract catering firm Elior Group, and Swedish fund management company EQT, which previously owned ISS and SSP Group for a number of years. Elior, SSP, and ISS are among the world’s largest firms in facility management and catering services. Other investors include Peter Nilsson, former CEO of Duni and Sanitec, Einar Sveinsson and Benedikt Sveinsson.
ISS World Services A/S is a global leader in real estate management, operating in 53 countries. ISS began operations in Iceland in 2000, when it purchased the janitorial department of Securitas. ISS Ísland has grown rapidly in the past 16 years and vastly expanded its service offerings. The company offers janitorial services, catering services, other real estate management, and integrated service solutions. ISS Ísland will continue to operate under the ISS brand for the next two years, on the basis of a cooperation agreement with ISS World Services A/S.