The ISS Group has acquired 100 % ownership of Australian Tempo
Services Ltd. The acquisition adds more than 20,000 employees to the Group's
global workforce and makes ISS one of Australia's leading facility services
providers.
Copenhagen, 14 February 2006 - The ISS
Group has announced that it now owns 100 % of the shares in Tempo Services
Limited, after acquiring the 51 % shareholding previously owned by DB Capital
Partners.
"The acquisition of Tempo Services is the largest ISS has made
in five years. This will give ISS immediate critical mass and national coverage
in Australia and establish ISS as an important integrated facility services
provider in the Australian market. It will also further our vision of becoming
the global leader in facility services", said ISS CEO Eric Rylberg.
Following the acquisition, ISS will be an important provider in
Australia's facility services industry with approximate annual revenue of more
than A$700 million and 21,000 employees. Tempo businesses will be re-branded
ISS.
Tempo Services Ltd. provides a wide range of services including
cleaning, catering, property service and security. Tempo delivers services to
three out of every four of Australia's top 100 companies, as well as government
organisations, schools, hospitals, shopping centres and airports. It is one of
the leading providers of cleaning services to the NSW Education Department and
of security services to the Australian aviation and maritime sectors. Founded in
1955, Tempo has grown to be one of Australia's top twenty employers. The ISS
Group is rated among Europe's ten largest private employers.
"Tempo's
capabilities widen and strengthen ISS' existing service offerings considerably,
as well as significantly increasing our revenue and number of employees in
Australia", said Eric Rylberg.
In 2004, ISS was invited by DB Capital
Partners to invest in Tempo Services through Pacific Service Solutions and to
take the company private. Since April 2005, ISS has held 49 % of the shares in
Tempo, and has now acquired the entire company to move to the forefront of the
Australian facility services market.
The acquisition is subject to
approval by Australian government authorities.
Further
information:
Mr. Eric Rylberg
CEO
ISS Management
A/S
Tel: +45 38 17 00 00
Mr. Anders Krogenberg Knoth
VP, Corporate
Communication
ISS Management A/S
Tel: + 45 38 17 62 41