MITIE buys Dalkia’s assets

MITIE Group Plc, a Bristol-based provider of property services, has acquired two divisions from energy management company Dalkia Plc for up to £130 million.

The acquired entities include the technical management division, Dalkia Energy and Technical Services Limited, and lighting business Parkersell Limited. Middlesex-based Dalkia Plc has a broad client base that includes blue chip, private and public sector clients. In addition to the deal, MITIE has also announced a placing of 19 million new ordinary shares to raise gross proceeds of at least £40 million.

MITIE chief executive Ruby McGregor-Smith said: ‘This transaction brings together MITIE’s facilities management services and Dalkia’s technical facilities management capabilities and strengthens our platform for sustainable profitable growth.’

In the year ending March 2009, MITIE reported a 28 per cent increase in revenue to £1.5 billion, while pre-tax profits were up 11 per cent to £78.4 million.

Nick Britton

Nick Britton

Nick was the Managing Editor for when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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