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Mitie Group has agreed to sell its Document Management business to Swiss Post Solutions Limited (SPS) in order to focus on its technology-led, ‘Science of Service’ strategy in core divisions. The sale, for £40m on a debt-free cash-free basis is conditional on the completion of a TUPE consultation process with employees of Mitie Document Management and is expected to complete by the end of September 2021.
Following the completion of the transaction, document management services will remain an important part of Mitie’s integrated facilities management (IFM) service offering to clients, under a preferred supplier partnership with SPS.
Headquartered in Zurich with operations across the world, SPS is a leading outsourcing provider of document management services, is at the forefront of digital transformation in document management and information processing, and is looking to grow its Document Logistics and Business Process Services business across the UK and Ireland.
The sale of Mitie’s Document Management business continues the Group’s strategy of realising value from non-core businesses whilst allowing reinvestment (such as the DAEL Telecom acquisition made earlier this month) in higher growth opportunities, underpinned by our ‘Science of Service’ technology in a post-COVID world.
Phil Bentley, Chief Executive Officer, Mitie Group, 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.”
