Divestment of ISS Hygiène et Prévention
ISS has completed a divestment of ISS Hygiène et Prévention in France to Weinberg Capital Partners after entering into exclusive negotiations on 6 September.
Founded in 1965, ISS Hygiène et Prévention is a leading provider of route-based hygiene and prevention services to the French market.
Services offered by the company include air hygiene, sewerage, pest control and fire protection. and the company employs some 1,500 employees and generated approximately DKK 900 million (Euro 120.43 million) of revenues in 2018.
With the completion of the divestment, the management team in France is expected to focus on achieving performance improvements within the business.
The divestment is part of planned programme previously announced by ISS which has seen around 40 per cent of businesses targeted for disposal sold – with divestment of remaining businesses expected to be annouinced by the end of 2020.
ISS forecasts total net divestment proceeds at between DKK 2 and 2.5 billion and has announced it will return a minimum of 25 per cent of these proceeds to shareholders.