Interserve’s Support Services division to merge with Mitie PLC

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Mitie PLC has announced the proposed merger of Interserve Support Services with Mitie for a combined consideration of GBP 271 million (US$ 333.93 million), comprising GBP 120 million (US$ 147.86 million) in cash and a 23.4% shareholding in Mitie to be held by or on behalf of Interserve’s shareholders. Interserve Support Services is comprised of the company’s facilities management operations in the UK and overseas across both public and private sectors.

Completion of the transaction is subject to certain conditions, including approval from Mitie’s shareholders. Should these conditions be satisfied within the expected timeframe, the merger of Interserve Support Services is expected to complete by the end of this year. Mitie will also be engaging with the CMA as part of the merger process.

Interserve and Mitie are both leaders of the UK FM outsourcing industry. The combined organisation will be uniquely placed in the UK market to deliver best in class, market leading services to customers. Interserve’s expertise in delivering frontline critical public services together with Mitie’s pedigree in delivering technical and business services to the private sector will enable us to share best practice, innovation and technology to the benefit of our combined extensive customer portfolio.

The combined organisation will be evenly balanced between the public and private sectors and will be the largest facilities management company in the UK, employing over 77,500 people.

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