Agilitas buys ISS division in maiden investment

This is Agilitas's first investment. The firm, set up in 2010 by one of the founders of Stirling Square Capital Partners, was earlier this year believed to be nearing a €150m first close for its maiden vehicle, which has a target of €250m.

The company will now integrate its operations in Norway, Denmark and Finland into one standalone business.

ISS Damage Control was previously part of the ISS Group. ISS owners EQT and GS Capital Partners took the company off the Copenhagen Stock Exchange in March 2005. Two unsuccessful IPOs were attempted in 2007 and in 2008.

Two sale attempts subsequently proved equally unsuccessful: the investors entered exclusive talks with Apax in late 2010 following an $8.5bn offer, but the talks were scrapped in early 2011. Then at the end of 2011, G4S withdrew a £5.2bn offer for the business.

Company
Founded in 1983, ISS Damage Control provides 24/7 damage control, rebuilding and emergency response services for fire and flood damage. It targets the Scandinavian commercial, industrial and residential properties. The company operates 54 offices across Norway, Denmark and Finland. It posted a DKK 850m turnover in 2012.

People
Martin Calderbank and Torbjorn Midsem worked on the deal for Agilitas – they will both join the company's board. Roar Smedsrud is the CEO of ISS Damage Control.

Advisers
Equity – Oriel (Corporate finance); PwC (Financial due diligence, tax); Roland Berger (Commercial due diligence); Mercer (HR due diligence); Ashurst (Legal); Marsh (Insurance due diligence).

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• Topics
• Nordics
• Buyouts
• Exits
• Support services
• Partial sale
• Denmark
• EQT