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Teachers' and KIRKBI invest 500 million in ISS21st of August 2012
Global investor Ontario Teachers' Pension Plan (Teachers) and KIRKBI Invest have agreed to invest 500 million euros in global facility services provider ISS, which is headquartered in Denmark.
The current owners, funds advised by EQT Partners and GS Capital Partners funds are not selling any shares as part of the transaction and will remain majority owners of ISS.
"The board of directors of ISS is very pleased to welcome such respected and successful long term investors to ISS," said Ole Andersen, chairman of ISS. "This is a testament to the strength and attractiveness of ISS as an investment opportunity."
"We have been following the performance of ISS for several years," commented Jo Taylor, Teachers' private capital vice-president and head of Teachers' London office. "Management is experienced, with deep industry knowledge and has put the company on the right strategic path. We look forward to helping ISS expand successfully in both developed and emerging markets."
The new investors will own around 26 per cent of the ultimate holding company of ISS.