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Spotless to Buy Cleanevent

Spotless to Buy Cleanevent
February 10, 2010

The Spotless Group has signed a conditional agreement to acquire the privately owned international cleaning and related services company, CE Property Services Group (widely known for the Cleanevent and CleanDomain brands).

The Group has revenues of over $140 million, with approximately 60% of revenues generated in Australia. The principal condition precedent relates to the novation of contracts.

The Spotless acquisition would provide an expanded geographic footprint for Spotless' Facility Services operations into the United Kingdom, Europe, the United States and Middle East and increased scale and efficiencies in the Australian market.

According to Spotless Managing Director and Chief Executive, Josef Farnik, the proposed acquisition of CE Property Services Group is in line with the company's strategic growth plans and would be comfortably funded from existing debt facilities.

Farnik explained "CE Property Services Group is a natural fit with Spotless and would enable us to offer additional services to existing and potential clients improve outsourcing efficiencies and ultimately increase value for our clients. Importantly, its international footprint would deliver an important building block in our growth plans.

"The acquisition would deliver immediate benefits to Spotless; access to a significant client base in new and existing geographies, an enhanced reputation as a premier services provider to major events and venues globally, and a dedicated group of employees from CE Property Services Group."

CE Property Services Group provides cleaning, environmental waste management, housekeeping and security services in over six countries and employs approximately 4,000 people. With more than 200 clients across the retail, hospitality and commercial sectors, the business has a prestigious portfolio of contracts spanning major sporting stadiums, International Air Shows, Olympic Games and F1 Grand Prix events.

Farnik added "CE Property Services Groupâs global reach, respected reputation and customer relationships combined with Spotlessâ range of services, depth of experience in outsourced services and corporate strength would ensure the combined teams create exciting growth opportunities for Spotless, our clients and our employees."

The acquisition would further consolidate Spotless' position as a leading supplier of outsourced services - which currently span facilities management, asset maintenance, food services, cleaning services, laundry and retailer services (retail supply chain logistics, garment hangers, packaging).

Related Articles

2nd February 2010 - Spotless to join the team at Dairy Farmers Stadium

10th November 2009 - World Cup Bid Boost for Regional Stadia

5th November 2009 - Spotless and SMG Unite in Bid to manage Perth Arena

8th October 2008 - Cleanevent denies allegations of illegal subcontracting

20th August 2008 - Lovett stands down at Cleanevent

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