Copenhagen, 14 June 2007 - EQT and Goldman Sachs Capital Partners, co-shareholders in ISS, are reviewing the feasibility of an Initial Public Offering (IPO) of ISS within the next 12 months.
The acquisition of ISS, one of the world's leading facility services companies, was completed in May 2005. Since then the company has significantly outperformed the investment plan.
"EQT and Goldman Sachs Capital Partners believe that it is an opportune moment to review our investment in ISS and potentially allow new shareholders, if the market conditions are favourable, to participate in the continued value creation, which ISS can deliver", Ole Andersen, Senior Partner of EQT, comments.
EQT and Goldman Sachs Capital Partners have appointed Merrill Lynch and Goldman Sachs International to carry out the IPO feasibility review.
Company profile in brief:
- ISS A/S, headquartered in Denmark, is one of the largest facility services companies in the world with operations in 50 countries.
- ISS has approximately 200,000 clients and currently 410,000 employees.
- In 2006, ISS generated overall revenues of DKK 55.8 billion (€ 7.5bn), a 20% increase from 2005, which was driven by 5.5% organic growth, the highest level since 2000, and continued execution of a well-established and disciplined acquisition strategy (104 acquisitions in total).
- Over the same period, the operating profit grew by 22% and operating margin reached a record level of 5.8% compared to 5.6% in 2004.
- ISS has made significant progress in strengthening its Integrated Facility Services (IFS) offering.
- ISS saw continued growth in Q1 2007 with an increase in revenues of 19% and an increase in profit of 22% compared to Q1 2006.
For further information, please contact:
Sir Francis MacKay, Chairman of the Board
Tel. + 44 20 73 55 95 25
Jørgen Lindegaard, Group CEO
Tel. +45 38 17 00 00
Jeff Gravenhorst, Group CFO
Tel. +45 38 17 62 66