Tristar

  • 10th Jan 2008
  • Debansu Das

Good News for Orbis Property Protection

Insite Service Management Limited (“ISM”) has today purchased the business and assets of Orbis Plc

ISM is an investment company formed for the purpose of developing operational interests in property protection and re-generation services in the public and commercial sectors across Europe   Equity and loan capital has been provided to ISM by a consortium of five banks and fund managers.

The purchase consideration for the operating companies of Orbis plc has been funded in cash.  ISM will provide additional working capital facilities to fund the continued development of the Group’s operations.

Orbis, based in Uxbridge, is a leading European professional empty property and neighbourhood improvement group, serving local authorities, registered social landlords as well as major repair and maintenance contractors and commercial clients, principally in the UK, France and Germany.

In the UK, Orbis operates under the name of “Orbis Property Protection”.  In Europe it is better known as “Sitex”.  The Orbis Group companies generate a combined turnover of around £40 million and employ some 670 people.

David Walker, the newly appointed Chief executive, said: “Orbis is a cornerstone investment for ISM.  ISM will provide additional working capital, which, together with renewed management energy and focus, will enable Orbis to grow its existing operations and introduce its services to a much wider range of customers in both the public and commercial sectors.  ISM is absolutely committed to supporting and developing Orbis’ excellent reputation for quality of service and customer care”.

John Jukes, Finance Director of Orbis, said “the acquisition by ISM is exceptionally good news for all existing customers, suppliers and staff.    An element of uncertainty as to the Group’s future has been removed and Orbis now has a firm financial platform to allow operations to move ahead quickly”.

For more details, please contact Nic Bealey, Sales and Marketing Director, 01895 465500.

David Walker, the newly appointed Chief executive, said:"ISM is absolutely committed to supporting and developing Orbis’ excellent reputation for quality of service and customer care”.