Market Announcement - Sale of OCS Facilities Services
OCS Group has signed a Sale and Purchase Agreement with Clayton, Dubilier & Rice ("CD&R"), a leading global investment firm, under which funds managed by CD&R will acquire the entire share capital of OCS Group International, the facilities services division ("OCS FS") of OCS Group.
CD&R has also made a binding and irrevocable offer for the acquisition of Atalian, a global facilities services business. Assuming both deals complete, OCS FS and Atalian will operate under a joint ownership structure.
From humble beginnings in 1900, OCS FS has grown into a leading international facilities services business, delivering essential and mission critical services to 20,000 customers and employing more than 68,000 colleagues.
John Hunter, OCS Group CEO commented:
"Our growth strategy, based on clear sector choices, has underpinned the transformation and growth of the OCS FS business over the last 6 years. We have strong ambitions to further expand and develop the business for our customers. CD&R's reputation as a business builder, with extensive experience in the facilities services space and support to the business, will accelerate the delivery of our strategic ambitions".
The transaction is subject to certain conditions and is expected to close in the second half of 2022.
The existing OCS Group shareholders will retain ownership of Landmark, the UK flexible serviced office business. The OCS Group Board continue to believe the flexible serviced office sector is a strong investment opportunity and have made a clear choice to maintain ownership of Landmark, with a commitment to build and develop this business into the future.
OCS was advised by Lazard & Co. Limited as sole financial advisor, and Travers Smith LLP as legal counsel.
About Clayton, Dubilier & Rice
Founded in 1978, Clayton, Dubilier & Rice is a private investment firm with a strategy predicated on building stronger, more profitable businesses. Since inception, CD&R has managed the investment of more than $40 billion in more than 100 companies with an aggregate transaction value of more than $175 billion. The Firm has offices in New York and London. For more information, please visit www.cdr-inc.com.
About OCS Facilities Services
OCS FS delivers critical and essential services to support more than 20,000 customers to keep their businesses running 24 hours a day. From offices and hospitals to stadiums and retail parks, to manufacturing plants, airports and courtrooms, OCS FS protects assets and people, delivering services to customers across multiple sectors in communities every day. 68,000 colleagues expertly deliver an essential and comprehensive range of facilities management services internationally, including in the UK, Ireland, Middle East, India, Thailand, Malaysia, Australia, New Zealand, Cambodia and Bangladesh. For more information, please visit www.ocs.com.