Grant Thornton UK LLP’s Corporate Finance team has completed its fourth deal in the built environment sector in 2022, as it has led the strategic sale of Incentive FM Group to leading global facilities management group Atalian Servest.
Established in 2001 and headquartered in London, Incentive FM Group provides a unique offering of total FM services, from cleaning, security, front of house to technical services (M&E), landscaping, waste management and consultancy.
The acquisition is a strategic move to expand Atalian Servest’s core service offering, reinforcing its sectors of focus, and adding further scale and experience.
Incentive FM Group has around 2,600 employees and annual revenues of £80m. The deal will also allow Atalian Servest to offer specialist consultancy and project management services to its customers, further complementing its existing range of services.
Martin Reed, CEO of Incentive FM Group, along with the executive management and operational teams, will remain in the business to ensure continuity of service excellence and pre-existing relationships.
Daniel Dickson, CEO Atalian Servest UK & Ireland, commented: “The acquisition is part of our ambition to accelerate our growth trajectory within the UK & Ireland. We are looking forward to driving value and building strategic partnerships with Incentive FM’s clients, while offering a wider range of services to our existing client portfolio.”
Martin Reed, CEO Incentive FM Group, added: “We are looking forward to joining the Atalian Servest team and build on Incentive FM Group’s success of the last 20 years. Our vision has always been to have a workforce and clients who love working with us, and I know they are all in safe hands as we look to further develop our relationships with them.”
The sale of Incentive FM Group marks another deal completed in an active built environment sector for Grant Thornton’s Corporate Finance team, following the sale of ISS Damage Control to Polygon (Sweden), TSS (Total Security Solutions) to Blackstone PE backed, Allied Universal Services (US) and Asset Plus to Johnson Controls (US) in the first half of 2022.
Usman Malik, Partner and Head of Business Services at Grant Thornton UK LLP, said: “Incentive FM is a high quality business which attracted significant interest from global trade and Private Equity. It is a great strategic fit for Atalian Servest.
“We are seeing significant investor interest in FM and the wider business services sector due to the essential nature of the services they provide, ensuring visibility of income at time of significant uncertainty in the wider market.”
