ISS Acquires German Technical & Building Engineering Capabilities
ISS has agreed to buy the German technical and building services company EVANTEC specialised in services within critical environments in the energy, infrastructure and technology sectors
ISS, a global leading facility services provider, has agreed to buy EVANTEC GmbH from the private equity company Palero Invest. The acquisition is done through ISS’ German subsidiary ISS Facility Services Holding GmbH.
Jacob Götzsche, ISS Regional CEO of Central Europe, said:
"This acquisition significantly strengthens our position in the important German facility management market. For ISS in Germany, the acquisition is another important step in further expanding competences within technical and building services.”
“In 2014, ISS Germany won a large Integrated Facility Services contract with Vattenfall, and the energy sector is a very important pillar of our business in Germany. We are very much looking forward to working with our new EVANTEC colleagues. With the contributions of our new colleagues, our German team will gain further extensive expertise and experience within critical environments in the energy, infrastructure, and technology sectors.”
Annual expected revenue of EVANTEC is DKK 352 million (EUR 47 million). EVANTEC currently has 800 employees and was founded in 1982 as a subsidiary of E.ON Facility Management. EVANTEC has since expanded its own business field of technical and building service, infrastructure and nuclear services. EVANTEC complements the existing experience of ISS within the nuclear sector in Europe.
E.ON Facility Management remains the largest customer of EVANTEC. Among other places, EVANTEC has sites in Brokdorf, Unterweser, Hannover, and Regensburg. The headquarters are in Munich. In 2015, EVANTEC was sold by E.ON Facility Management to the private equity company Palero Invest.
Existing EVANTEC customers and employees will transfer to ISS. The buyer and seller have agreed to keep the purchase price confidential. The closing of the transaction is subject to the approval of the German antitrust authority (Federal Cartel Office) and other specific closing conditions in the purchase agreement. The transaction is expected to be completed in the first quarter of 2017.