NBGI Private Equity has backed the £9 million management buy-out of Facilities Services Group (FSG).

NBGI Private Equity has backed the £9 million management buy-out of Facilities Services Group (FSG).

Buckinghamshire-based FSG provides hard facilities management, the physical maintenance of buildings and equipment, to companies in the retail and leisure sectors.

Managing director George Lilley and executive chairman David Simons led the MBO. The two joined FSG in 2009 with the intention of leading a buy-out of the company.

Simons comments: ‘The continued growth in outsourced facilities management, the appeal of our service offering and our strong management team put us in an excellent position to grow and develop our business.’

FSC was previously held by Spice, which provides infrastructure support to the utilities industry. Spice, formerly listed on the London Stock Exchange, was taken private in December 2010 by investment firm Cinven.

NBGI has taken a majority stake in the buy-out and is committing further capital to expand FSG’s range of services, according to a statement released by the company.