KLAR Partners funds acquire ISS Kanal Services AG in Switzerland
Funds advised by KLAR Partners Limited (KLAR) have signed an agreement to acquire ISS Kanal Services, a corporate carve-out from ISS Schweiz AG and Switzerland’s leading player within UIM. The acquisition is in line with KLAR’s investment strategy to make control investments in companies providing mission critical services in resilient and growing markets. ISS Kanal Services is KLAR’s first acquisition in Switzerland.
ISS Kanal Services offers underground infrastructure maintenance services in a resilient market across eight locations in Switzerland. The company’s services consist of UIM cleaning and maintenance through flushing and inspection, as well as UIM maintenance and repair. The company has a large and well-diversified customer base consisting of local municipalities, industrial customers as well as private and institutional property owners. With almost 300 employees, ISS Kanal Services is the largest UIM service provider in Switzerland.
“We are delighted to announce our first acquisition in Switzerland, which constitutes a significant milestone for KLAR and highlights our strong local networks across Europe. ISS Kanal Services is one of the few fully integrated full-service platforms in Europe and the clear market leader in UIM digitization and integrated portfolio solutions, providing a solid foundation for future growth. We look forward to working together with the highly experienced and entrepreneurial management team to further strengthen its leading position in Switzerland and develop the company into a European market leader”, comments Florian Bandel, Investment Professional at KLAR.
“We have built a fully integrated, scalable and nimble platform over the last 20 years and are grateful for the support ISS has provided us with over that period. Through our partnership with KLAR, ISS Kanal Services enters an exciting and new phase of its growth journey. KLAR’s deep and focused sector expertise within the business services sector will enable us to better serve our customers, rapidly extend our footprint and roll-out our digital solutions and service innovations”, says Urs Aschwanden, CEO of ISS Kanal Services.