Source8 Majority Shareholding Acquired by Mitie Group PLC
Published on November 28, 2014
Source8 is now part of the Mitie Group
Source8 is pleased to announce that Mitie Group PLC, an FTSE 250 corporation, has acquired a majority stake in our company. Mitie is a leading strategic outsourcing and energy services company that provides infrastructure consultancy, facilities management, property management, energy and healthcare services.
Mitie has revenues in excess of £2bn and is one of only two FTSE 250 companies to have grown earnings per share for over 25 consecutive years. Mitie works with customers to combine services in multi-service or integrated facilities management packages and operates on large-scale national contracts such as Rolls-Royce, Cable & Wireless and Marks & Spencer as well as high-profile contracts such as The Tower of London and the Royal Opera House.
Simon Venn and Chris Rowley, co-founders of Source Eight Limited, had the following to say about the acquisition, “This is a tremendously exciting milestone for Source8 and it will enable us to secure new growth for the company across all our service lines. With Mitie’s support, we will have the ideal platform from which to expand our international presence and serve our clients more efficiently, whilst maintaining the exceptionally high level of performance and quality for which we are known”
Additionally, Ruby McGregor-Smith CBE, Chief Executive of Mitie, comments, “We are delighted to have acquired a majority shareholding in Source8. This acquisition will enable us to significantly build upon our consultancy services offering and complement the services we already provide for our clients. We are very pleased to welcome the Source8 management team and employees to Mitie.”
For further information, please contact:
T: +44 (0) 733 629 2661
or visit www.mitie.com