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Olswang advises NBGI Private Equity on Facilities Services Group MBO

NBGI Private Equity, has been advised by Olswang LLP on the GBP9m management buyout of Facilities Services Group Ltd (FSG) from Spice Ltd.

FSG is the UK market leader in the provision of integrated facilities management services to large, multi-site operators in the retail, leisure and property sectors.
FSG appointed the management team in late 2009 with a mandate to lead an MBO. NBGI, a leading private equity investor in the UK lower mid-market, has taken a majority stake in the buyout and is committing further capital to expand FSG’s range of services and delivery capabilities.

Richard Babington (pictured) , Investment Director at NBGI Private Equity, who has joined the board of FSG, says: “We are thrilled to be backing the management team in its buyout of FSG. With its sophisticated call centre, proprietary job handling system and integrated, nationally deployed mobile workforce, FSG provides national multi-site chains with the cost efficiency and service benefits that professionally delivered hard facilities management. These benefits have historically been available only to operators of large sites; big corporates or government institutions, for example.”

The Olswang team advising NBGI Private Equity was led by Duncan McDonald with support from Adam Crossley, Ben Jones, Hugo Webb and Lauren DeMarco.

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