Livit sells FM division to ISS Switzerland
The facility management service provider Livit FM Services will be part of ISS Switzerland in the future. The company looks after a large proportion of Swiss Life's properties.
ISS Facility Services will completely take over Livit FM Services with all its 670 employees. As ISS and Livit write in a joint statement, the integration is expected to be completed in the first quarter of 2023. The name Livit FM Services will then also disappear: The company will operate under the ISS brand in the future. The parties have agreed not to disclose the sale price.
ISS describes the acquisition as a "strategic acquisition in the institutional real estate investor market". Livit FM Services is a subsidiary of the real estate manager Livit, which in turn is a subsidiary of the insurance group Swiss Life. Livit FM Services therefore manages a large proportion of Swiss Life's properties in Switzerland.
For Livit, according to CEO Wolfgang Stiebellehner, the decisive factor for the sale was that the company's customers view facility management as independent of the core business, which is property management. For this reason, the decision was made to sell the operational FM business to ISS.
Livit FM Services was founded in 2008 as a subsidiary of Livit and has eleven branches throughout Switzerland. (ah)
