Acquisition

RNS Number : 9312E

MITIE Group PLC

07 June 2012

 



7 June 2012

MITIE Group PLC

MITIE acquires Norwegian facilities management business

MITIE Group PLC ("MITIE"), the strategic outsourcing and energy services company, is pleased to announce that it has today acquired¹ the facilities management (FM) business of Dalkia Energy & Technical Services AS ("Dalkia FM")² in Norway.

MITIE has acquired the FM contracts and the majority of the employees of Dalkia FM for a total maximum cash consideration of NOK 10m (£1.06m)³ subject to certain conditions being satisfied over the period to 7 September 2012. 

Ruby McGregor-Smith CBE, Chief Executive, MITIE Group PLC, commenting on the transaction, said:

"This is a further step in our strategy to develop MITIE's ability to support our clients overseas.  We are delighted to welcome the employees to MITIE."

¹ The acquisition was made by MITIE Norge AS, a wholly owned subsidiary of MITIE Group PLC.

² Dalkia FM reported revenues of NOK 27.7m in the year ended 31 December 2011. 

³ The conversion price used was NOK 1=£0.10614 as at 6 June 2012.

-ENDS-

For further information, contact:

MITIE
John Telling, Group Corporate Affairs Director	D: [phone] M: [phone] E: [e-mail]
Erica Lockhart Head of Investor Relations and External Affairs	D: [phone] M: [phone] E: [e-mail]

Notes for editors

What is MITIE?

We're the strategic outsourcing and energy services company. What does that mean in practice? We manage facilities, energy and properties for our clients across the UK and beyond.

We work with our clients in three ways; some take full advantage of our whole range of expertise, others may only need one aspect of what we do:

Strategy and consultancy

+ Facilities and energy management

+ Service delivery

Our strategic input can add value at the highest level by helping clients to manage their assets, while our practical management expertise can save customers money and reduce their carbon emissions.  We work with a vast number of clients in every industry across both the public and private sectors and deliver the broadest range of services that can be found in one place: from integrated facilities management to engineering maintenance to lifecycle energy management and much more.

There's a lot more to MITIE than you probably think. We're a big company with big ambitions - a leading FTSE 250 support services business, with more than 63,000 people, revenues of £2bn, and a reputation for being the best.

Visit us at www.mitie.com

 

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