Feb 24, 2011
Facilities Services Group Undergoes MBO
The management team at national property maintenance provider Facilities Services Group (FSG) has successfully completed a management buyout of the business from Spice Limited.
The buyout has been led by David Simons, the Chairman of FSG, with the support of NBGI Private Equity, a leading UK and European private equity firm.
FSG specialises in integrated facilities management services across the retail, leisure and property sectors and was formed as a brand in 2008 through the merger of leading retail and leisure companies including Circle Britannia, Serviceline and Atlanta Facilities.
From its head office at Aylesbury in Buckinghamshire FSG provides a nationwide service including reactive maintenance, compliance and managed services solutions.
The company’s service is delivered by 250 directly employed tradespeople and backed up by 20 field service managers.
David Simons said: “FSG Group was non core to Spice’s ongoing operations. This deal represents a marvelous opportunity for us. We have great confidence in the business and its people and are well-positioned for future growth. We are delighted to have completed this transaction. The management team at FSG has a strong understanding of our customers’ needs and the many strengths that exist within our business. With the support of our funder, the MBO allows us to invest in developing our services even further.”