Spotless is delighted to announce that it has signed a conditional acquisition agreement for the purchase of Utility Services Group (USG).
Operating under the Skilltech, Fieldforce and Utility Asset Management brands, Utility Services Group (USG) is Australia’s leading provider of retail meter reading and installation services in the electricity, gas and water sectors, and of end-to-end essential maintenance and inspection services in electricity distribution.
Spotless Chief Executive Officer and Managing Director, Bruce Dixon said: “The acquisition of USG is an exciting opportunity, providing Spotless with a platform for growth in the utilities infrastructure sector. This is a significant opportunity for growth for Spotless including the potential cross-selling of facilities services to USG’s government, council and corporate customer base”.
Spotless Chairman Margaret Jackson said: “This outstanding acquisition builds upon our strategy of broadening and deepening our service capabilities and provides Spotless with a further platform for growth into technical services across a range of sectors.
Ms Jackson said: “We will continue to consider strategic acquisitions of high quality businesses that supplement our strong underlying organic growth and generate the best return for our shareholders”.
USG Chairman Mark Foley said: “Spotless is an iconic Australian company with a long and rich history of a strong service delivery culture to its many and varied customers. We view this culture as closely aligned to our own and believe that this is a very positive event for our customers, management and employees alike”.
More information can be found in the ASX announcement in the Investor Relations section of our website.
The transaction is expected to complete by July 2015.