ISS Eesti AS is the largest facility management and technical maintenance services and second largest cleaning services’ company in Estonia, whose customers include retail chains, educational institutions and large office and production buildings. ISS Estonia employs approximately 1,500 people, serving more than 700 corporate customers and over 20,000 apartments all over Estonia.
According to representative of the investors, Triinu Reinold, the need for professional and compact real estate maintenance service is growing in Estonia, and foreign investors in particular value this service, “With 1,500 employees, today ISS is one of the largest companies in Estonia, being at the forefront of the market in terms of service quality, professionalism and new technologies. We trust in the ISS management today, highly appreciate their vision, and want to further develop existing services.”
The new owners support the current management and their goal to further improve the quality of services in Estonia and increase trust in the company.
Grant Thornton Baltic advised investors on the acquisition of ISS Estonia's business. Grant Thornton Baltic's advisers conducted financial and tax due diligence to identify potential risks and threats to be taken into account in the negotiation of the transaction and in the share purchase agreement.
The new name of the company will become clear in the coming months, so far the activities will continue under the name of ISS Estonia.
Grant Thornton's team was led by partner in charge of advisory services and financial adviser Artur Suits, big contributions were made by our tax and financial advisers Sander Adamson, Ants Ansper, Mikk Mägi, Kaili Kallastu, Marko Rebane, Rain Roball and Christopher Roosla.
Professional, thorough and efficient work
“Several things made our acquisition of ISS Estonia, with its almost 1,500 employees, complicated for us. One was the small size of our team. The other concern was the bank loan, as no one wanted to give us reasonable terms. Thirdly, there was no one I knew at ISS; and so I couldn’t get any information on the company’s climate and other key aspects.
Grant Thornton Baltic’s support – in the form of Ants Ansper and his team – was therefore exactly what I needed, as they did their thinking from the client’s (my) perspective. Even though the timetable was tight, we met all deadlines. All of the team members were always reachable. This was especially important during negotiations on the final details of the transaction. To sum up, they did professional, thorough and efficient work!”