SINGAPORE and HONG KONG, Feb. 9, 2022 /PRNewswire/ -- ISS A/S ("ISS Group"), a leading global facility services provider, has entered into an agreement with Asian private equity firm ADV Partners to divest 100% of the equity capital in ISS Environmental Services (HK) Limited ("ISS Environmental"), from ISS Facility Services Limited ("ISS Hong Kong"). ISS Environmental has since 1998 established itself as Hong Kong's leading liquid waste management company, with business lines including portable toilets, sewage management, and mechanical street cleaning. The sale is part of a broader divestment program of non-core assets by ISS Group. All other ISS businesses in Hong Kong, including integrated facilities services, facility management, cleaning, security and technical engineering services, will be unaffected by the transaction.
Under new ownership of ADV Partners, the business will continue to serve its customer base across over 2,500 service locations in Hong Kong. The experienced senior leadership team, led by Mr. Wilson Lau, and more than 230 employees of ISS Environmental are dedicated to maintaining the high level of customer service to clients on a business-as-usual basis, especially at a crucial time when environmental safety and cleanliness are of paramount importance. ADV Partners' investment will catalyze the next stage of ISS Environmental's growth plans by supporting a significant expansion of its service lines in Hong Kong and across Asia.
Mr. Tuomo Saramaa, CEO for ISS Hong Kong said, "The sale of ISS Environmental is a strategic divestment that allows us to strengthen our focus and reinvest in our core integrated facilities services offering in Hong Kong. While ISS Environmental is a fundamentally strong business, it has limited overlap with our core service offerings and customer base. This divestment aligns closely with our OneISS strategy and further supports our core purpose of connecting people and places. I want to extend my sincere thanks to Mr. Wilson Lau and his team for their commitment and service to what has been a visible part of our success in Hong Kong. We are delighted to hand over the reins to ADV Partners, who we believe will be an excellent new owner of ISS Environmental, capable of growing and further developing the business to the benefit of both customers and employees."
Commenting on the investment, Mr. Brad Landes, Co-founder and Managing Partner at ADV Partners, said, "We are grateful to have been chosen by ISS Hong Kong for the ongoing stewardship of ISS Environmental. The company provides essential services to the people and city of Hong Kong, with a strong focus on the environment. We are committed to maintaining the high quality standards for which it is known. We see a strong growth opportunity for ISS Environmental and together with Wilson, his management team, and the firm's dedicated employees. ADV Partners looks forward to supporting a significant expansion of the business, both organically and inorganically. ADV Partners' acquisition of ISS Environmental is a continuation of our investment strategy to be the preferred partner to management teams and owners of market leading businesses in Asia."
Mr. Wilson Lau said, "We would like to thank ISS Group and all our stakeholders for their strong support over the last two decades. We are confident that ADV Partners' support will enable the team to execute on our growth strategy, and we look forward to continuing to provide innovative services and solutions to meet the diverse needs of our customers.
About ISS Environmental
ISS Environmental is Hong Kong's leading liquid waste management business, with a strong presence in three distinct lines of business: (i) portable toilets, (ii) sewage management, and (iii) mechanical street cleaning. Currently, ISS Environmental manages an extensive network of more than 2,500 portable toilets and 80 specialized vehicles and employs more than 230 employees.
About ISS Group
ISS is a leading workplace experience and facility management company. In partnership with customers, ISS drives the engagement and well-being of people, minimises the impact on the environment, and protects and maintains property. ISS brings all of this to life through a unique combination of data, insight and service excellence at offices, factories, airports, hospitals and other locations across the globe. In 2020, ISS Group's global revenue amounted to DKK 70 billion. For more information on the ISS Group, visit www.issworld.com.
ISS Hong Kong delivers integrated facility services to global and local private and public sector customers through its over 14,000 employees. ISS Hong Kong's service portfolio includes integrated facilities services, facility management, cleaning, security and engineering services.
About ADV Partners
ADV Partners ("ADV") is an Asian private equity firm, formed to pursue privately negotiated investments in the mid-market corporate segment in Asia. The firm was established in early 2013, with the objective of building an institutional quality investment platform to serve international investors.
ADV aims to generate investment returns by investing in a patient and disciplined manner, adding strategic and operational value, and aligning its own interests with the interests of all stakeholders. ADV is focused on creating value through access to organic and inorganic business opportunities, strengthening senior leadership talent, and improving governance. Its pan-regional approach helps identify and create opportunities across various industry sectors, while achieving attractive risk-adjusted returns for investors. ADV is a firm believer that good environmental, social, and governance (ESG) principles are fundamental to sustainable business success. ADV currently maintains four offices in Asia to execute its strategy: Hong Kong, Mumbai, Shanghai, and Singapore.
