ISS A/S ISS, a leading workplace experience and facility management service provider, has agreed to sell its U.S.-based portfolio of single-service janitorial and specialized services contracts to Argenbright Holdings V, LLC (Argenbright Holdings). Notably, all other ISS businesses in the U.S., including integrated facilities services (IFS) cleaning and janitorial, aviation, and food service offerings, will remain unaffected by the transaction.
This transaction represents another important milestone in ISS's efforts to simplify its global business and strengthen its focus on delivering high-value, integrated services to Key Account customers.
Argenbright is a privately held, U.S.-based provider of workforce solutions in human capital-intensive industries headquartered in Atlanta, Georgia. The company will take on approximately 3,000 employees from ISS and will continue the business's mission of providing single-service janitorial support to specialized clients across financial, retail, industrial and government sectors.
The sale is a part of ISS's ongoing global divestment program, announced in 2018 and updated in December 2020, targeting approximately DKK 2 billion in total net proceeds in 2021 and 2022. The signing and proceeds from the above-mentioned sale completion were included in the Trading Update for 1 January - 30 September 2021 from ISS Group released on November 4, 2021.
Susanne Jorgensen, ISS North America CEO said: "This is a strategic divestment for ISS that allows stronger focus and reinvestment into our integrated facilities services offering in North America. It fully aligns with our previously announced global strategy and further supports our core purpose of connecting people and places."
Frank A. Argenbright Jr., Executive Chairman of Argenbright Holdings said: "We are excited to acquire the single-service janitorial and select specialized services business from ISS North America. This transaction is at the core of our strategy to be a leader in this space, delivering our 'Legendary Service' to valued customers."
For investor enquiries
Michael Bjergby, Head of Group Investor Relations, +45 31 37 41 71
Louisa Baruch Larsson, Senior Investor Relations Manager, +45 3817 6338
For media enquiries
Peter Mikol, Head of Communications, North America, + 1 210 214 2161
Argenbright is a privately held, U.S.-based provider of workforce solutions in human capital-intensive industries headquartered in Atlanta, Georgia. The company will take on approximately 3,000 employees from ISS and will continue the business's mission of providing single-service janitorial support to specialized clients across financial, retail, industrial and government sectors.
The sale is a part of ISS's ongoing global divestment program, announced in 2018 and updated in December 2020, targeting approximately DKK 2 billion in total net proceeds in 2021 and 2022. The signing and proceeds from the above-mentioned sale completion were included in the Trading Update for 1 January - 30 September 2021 from ISS Group released on November 4, 2021.
Susanne Jorgensen, ISS North America CEO said: "This is a strategic divestment for ISS that allows stronger focus and reinvestment into our integrated facilities services offering in North America. It fully aligns with our previously announced global strategy and further supports our core purpose of connecting people and places."
Frank A. Argenbright Jr., Executive Chairman of Argenbright Holdings said: "We are excited to acquire the single-service janitorial and select specialized services business from ISS North America. This transaction is at the core of our strategy to be a leader in this space, delivering our 'Legendary Service' to valued customers."
For investor enquiries
Michael Bjergby, Head of Group Investor Relations, +45 31 37 41 71
Louisa Baruch Larsson, Senior Investor Relations Manager, +45 3817 6338
For media enquiries
Peter Mikol, Head of Communications, North America, + 1 210 214 2161
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ISS A/S published this content on 01 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 December 2021 14:10:04 UTC.
