Group’s specialist rail division is sold off in MBO

Bradford-based SPS Group has sold its specialist rail recruitment and services division, ISS Labour, to its management team in a buyout backed by private investors.

ISS Labour is a multi-disciplined contractor with a service portfolio that covers track, trades, civils, OLE, signalling and telecoms along trackside lighting and safety barrier fencing. The business has been part of the SPS Group since 2013.

SPS Group CEO, Chris Chidley, said: “We have been pleased to see ISS Labour flourish over several years as part of the SPS Group.

“We are happy to have completed this deal, which we are sure will see ISS Labour continue to develop as a standalone business, under the ownership of its management team.

“We wish everyone at ISS Labour the best of luck as they embark on this new chapter.”

SPS Group was advised by Tom Kaye and Paul Finlayson at Clearwater International and Louisa Hine, Fergus Gallagher, Bethany Bloor (corporate) and Patrick Ford (tax) at Squire Patton Boggs.

The investors and the management of ISS Labour were advised by Jonathan Paisner at LMN Capital Partners Ltd.