Partner Article

Grant Thornton leads strategic sale of ISS Damage Control

Grant Thornton’s Business Services Corporate Finance team has advised on the strategic sale of ISS Damage Control to Scandinavia-based Polygon Group.

The acquisition, for an undisclosed sum, will strengthen Polygon’s capability in helping UK businesses recover from major incidents such as fires and floods.

ISS Damage Control is one of the top UK providers of commercial damage restoration services in the UK with a key focus on major and complex claims.

With clear strategic fit between the two companies, ISS Damage Control will contribute around £12m in annual revenues and as skilled team of damage restoration technicians to the Polygon Group.

The company has a nationwide presence with major offices in Skipton, Yorkshire and Rugeley, Staffordshire. The senior leadership team from ISS Damage Control, including Managing Director Steve Mitchell, will be remaining in position under the new ownership.

Axel Gränitz, President and CEO of Polygon Group, said: “This acquisition supports our strategy to aim for market leadership in all countries we are present in. I feel great pride in witnessing Polygon UK as a highly skilled property restoration company and reinforcing its position as the market leader in the UK.” 

Steve Mitchell, Managing Director at ISS Damage Control said: “We are truly excited to be joining the Polygon Group and look forward to strengthening our MCC service offerings and market position. We have a similar business and culture which will allow for a smooth merger between the two companies.”

Usman Malik, Partner and National Head of Business Services at Grant Thornton, said: “Given the excellent reputation ISS Damage Restoration has in the market, its skilled and loyal workforce and visible revenue streams, there was a significant level of interest in the business. We are confident that Polygon will be an excellent owner and look forward to seeing the business go from strength to strength.

“We are currently seeing considerable M&A activity, especially in the Business Support Services sector with significant international trade and Private Equity interest in UK assets.”

Assisting Usman Malik on the transaction was corporate finance Associate Director, Andrew Charter and Partner Carl Parker and Manager Amelia Robinson from Grant Thornton’s Transaction Advisory Services team.

This was posted in Bdaily's Members' News section by John Robson .