Atalian Servest purchases built environment firm Incentive FM

Service provider Incentive FM has been acquired by Atalian Servest for an undisclosed sum. The deal was supported by professionals from Grant Thornton, who oversaw the sale.

Headquartered in London, Incentive FM Group provides a unique offering of total FM services such as cleaning, security, front of house and technical services, as well as landscaping, waste management and consultancy. Since the firm’s launch in 2001, it has built up a headcount of 2,600 employees, an extensive portfolio of clients, and annual revenues of around £80 million – making it an attractive prospect for buyers.

As a result, Atalian Servest saw fit to commit to making Incentive FM its first acquisition since 2018. That year saw Servest merge with Atalian Global Services, extending its core service offering and the scale of the business – but now it is looking to grow further.

The acquisition has been described as a “strategic” move to expand Atalian Servest’s core service offering, reinforcing its sectors of focus, and adding further scale and experience. The deal will also allow Atalian Servest to offer specialist consultancy and project management services to its customers, “further complementing” its existing range of services.

Daniel Dickson, CEO of Atalian Servest UK and Ireland, said, “The acquisition is part of our ambition to accelerate our growth trajectory within the UK and Ireland. We are looking forward to driving value and building strategic partnerships with Incentive FM’s clients, while offering a wider range of services to our existing client portfolio.”

Meanwhile, the move also gives Incentive FM opportunities for growth. As part of Atalian Servest, the firm will gain a new global reach, making it more able to access new markets.

Martin Reed, CEO of Incentive FM Group, added, “We are looking forward to joining the Atalian Servest team and building on Incentive FM Group’s success of the last 20 years. Our vision has always been to have a workforce and clients who love working with us, and I know they are all in safe hands as we look to further develop our relationships with them.”

Grant Thornton UK’s corporate finance team worked to support Incentive FM through the sale. The move represents its fourth deal in the built environment sector for 2022, following the sale of ISS Damage Control to Polygon in Sweden, TSS to Blackstone PE backed, Allied Universal Services, and Asset Plus to Johnson Controls, both in the US.

Usman Malik, partner and head of business services at Grant Thornton UK, commented, “Incentive FM is a high quality business which attracted significant interest from global trade and Private Equity. It is a great strategic fit for Atalian Servest. We are seeing significant investor interest in FM and the wider business services sector due to the essential nature of the services they provide, ensuring visibility of income at time of significant uncertainty in the wider market.”