The deal values the business at £53m, including debt and a £6m earn-out to be paid in the first half of this year depending on the business’s financial performance. Denmark-based ISS has funded the transaction through its existing debt facilities.
Established in 1895, GS Hall is focused on the UK mechanical and electrical services markets, specialising in the self-delivery of services to accounts in the business service & IT and retail & wholesale customer segments.
“This is the right company in the right market at the right time for us,” said ISS group chief executive Jeff Gravenhorst.
“This acquisition will strengthen our ability to meet the increasing demand for integrated facility solutions where technical services is an important and deciding component for the customer in choosing the right partner. Furthermore, the acquisition will enhance our offering in energy management which is an emerging demand from our customers.”