BSR
BSR
  • Home
  • Distressed Businesses
    • All Distressed Businessess
    • Administrations
    • Liquidations
    • Winding Up
    • Insolvency Advice  New
  • Buy a Business
    • All Businesses for Sale
    • Find a Business for Sale
    • Raising Business Finance
    • Buyer Acquisition Service   New
    • Escrow Service   New
  • Sell a Business
    • Sell Your Business
    • Seller Accounts
    • Need Help Selling?
    • Help With Finance New
    • Business Valuation
    • Business Wanted Adverts
  • Insights & News
    • View All News
    • View All Insights
  • Off-market
    • Source deals
  • Log In
  • Join Now
Join now
11111111

Home / News / Mitie offsets document management division at 9.5x EBITDA

Mitie offsets document management division at 9.5x EBITDA

Mon, 23 Aug 2021 | BUSINESS SALE

Mitie offsets document management division at 9.5x EBITDA

Glasgow-based outsourcing firm Mitie Group has sold its document management division to Zurich-based Swiss Post Solutions for £40 million, around a 9.5x multiple of the division’s £4.2 million EBITDA for the year ending March 31 2021. In the last financial year, the division generated £48 million in revenue.

The sale of Mitie Document Management comes as the group moves to sell its non-core businesses and focus its attention on higher-growth areas post-COVID-19. Mitie, which recently completed the £15 million acquisition of telecoms infrastructure firm DAEL Ventures UK, has been operating cleaning and security services at COVID-19 testing sites during the pandemic.

The deal for the division, which provides file organisation solutions alongside document management, was completed on a debt and cash-free basis. Post-acquisition, Mitie will continue to offer document management services via a preferred supplier partnership with Swiss Post Solutions.

The deal is expected to complete by the end of September, subject to a consultation with the document management division’s employees.

Mitie Chief Executive Phil Bentley said: “By joining forces with Swiss Post Solutions, the Document Management business will continue to grow and flourish, allowing Mitie to focus on our technology-led, Science of Service strategy in our core divisions.”

“I would like to thank the Document Management team for their contribution to the Group, and we look forward to working with SPS to bring new innovation to our existing and future IFM clients.”


Find businesses for sale here.

If you are looking for an exit, we can help!


Share this article



Latest Businesses for Sale

Logistics Company
East Midlands, UK

This is an opportunity to acquire the assets of a logistics solutions company. This company specializes in a variety of logistics solutions including transportation, warehousing, and inventory management. They have a fleet of modern and well-maintain...

Asking Price: Offers Invited
Turnover: £1m - £2m

LEASEHOLD


Leadership Development Business
UK Wide

The company is an innovative leadership development business that focuses on enhancing the performance and engagement of CEOs and senior managers, along with that of the wider company culture. Operating across multiple sectors, the company designs...

Asking Price: Offers Invited
Turnover: £1,400,000

LEASEHOLD


Provider of ICT Support & Consultancy Services
UK Wide

The company’s offering comprises intelligent, realistic consultancy services in line with each client’s specific requirements and budget. This is backed up by engineers with a strong working knowledge of each business’s infrastructure, thus enabling...

Asking Price: Offers Invited
Turnover: £760,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
07
 
Feb
 

Administrators exploring accelerated sale of telecoms contractor | ADMINISTRATION

Administrators from RSM UK Restructuring Advisory LLP are se...

 
06
 
Feb
 

M&Co brand bought out of administration, but 170 stores still to close | ADMINISTRATION

Scottish clothes retailer, M&Co has been bought out of admin...

 
06
 
Feb
 

Australian firm announced as preferred bidder for collapsed UK battery start-up | ADMINISTRATION

Recharge Industries has been named as the preferred bidder f...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
13
 
Feb
 

New owners at power grid firm after £9m MBO | MBO/MBI

The management team at one of the country’s leading se...

 
21
 
Sep
 

Mitie plans property management business sale | DIVISION SALE

UK outsourcing firm Mitie has announced plans to sell its pr...

 
02
 
Mar
 

Struggling Mitie offloads healthcare arm for £2 | BUSINESS SALE

Outsourcing firm Mitie has sold its home healthcare arm for ...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news

logo
Our Services Distressed Businesses
  • Businesses for Sale
  • Distressed Companies
  • List a Business
  • Help with Finance
  • Buyer Acquisition Service
  • Small Businesses for Sale
Company Buy a Business
  • About BSR
  • Pricing
  • Insights
  • News
  • FAQs
  • Reviews
Get In Touch
020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm
About BSR
Business Sale Report is the UK's leading
independent business for sale & distressed business listing service.
Established in 1995, BSR offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.
Subscribe

Subscribe to our newsletter to receive news about the latest businesses for sale.

  • Terms
  • Privacy
  • linkedin
  • facebook
  • twitter
© 1995-2023. Business Sale Report Ltd. All rights reserved. www.business-sale.com.