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spotless.com

Founded Year

1946

Stage

Acq - P2P | Acquired

About Spotless Group

Spotless Group is an international services company specializing in outsourced facility management in the divisions of managed, cleaning, food, laundry, and retailer services.

Spotless Group Headquarter Location

549 St Kilda Road

Melbourne, Victoria, 3004,

Australia

+61 3 9269 7600

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Latest Spotless Group News

Downer shops $244.4m yearly hospitality contracts to rivals

May 11, 2021

Share ASX-listed Downer Group is cooking up a deal to exit the hospitality sector. Street Talk can reveal Downer has started shopping a bucket of 210 hospitality sector contracts in its Spotless Group arm to rival services companies, pitching it as a “low concentration portfolio” across Australia and New Zealand. Downer’s contract to provide catering services at Sydney’s Taronga Zoo is included in a portfolio of up-for-grabs contracts. Kate Geraghty Downer said the up-for-grabs portfolio was likely to produce $244.4 million revenue and $27.2 million EBITDA in the upcoming financial year, and included venues and stadia (such as Melbourne Town Hall, Virgin Australia Lounges), educational facilities (Taronga Zoo and school lunches in NZ) and corporate sites. The bulk of the earnings was from catering services, according to information in front of potential bidders, although some contracts were for cleaning services or a mixture of catering and cleaning. The portfolio’s brands include Epicure, Alliance, Pandanus Catering, The Health Deli and Nudge. Tyrekickers reckon the contracts could be worth about $100 million. Related Quotes Downer’s head of corporate finance and projects Jon Newbery is overseeing the sale. The portfolio - which does not include Downer’s flagship Melbourne Cricket Ground - is understood to be pitched towards industry players including the likes of Compass Group, Sodexo and Serco, rather than private equity firms. Expressions of interest were due last week, sources said. Non-core sales ramp up The detailed information memorandum outlining the portfolio was sent as Downer told shareholders a fortnight ago that it was progressing plans to sell the hospitality portfolio, which was tagged as a non-core asset alongside the group’s mining open-cut east division. Downer told potential buyers that there a handful of ways to grow the portfolio including geographic expansion, offering new services to existing customers, acquiring new contracts and entering new sectors. Downer also said the portfolio’s Australian and New Zealand operations were run independently of each other, and there could be an opportunity to cut overheads by combining the two. The contracts are the latest in a long line of non-core asset sales at Downer, which is working to refine its portfolio. Other sales include its underground mining services unit, the Otraco tyre management business, a 70 per cent stake in Spotless Laundries and its blasting services operations. Get a first look at tomorrow's headlines Sign up to the Street Talk First Look newsletter

  • When was Spotless Group founded?

    Spotless Group was founded in 1946.

  • Where is Spotless Group's headquarters?

    Spotless Group's headquarters is located at 549 St Kilda Road, Melbourne.

  • What is Spotless Group's latest funding round?

    Spotless Group's latest funding round is Acq - P2P.

  • Who are the investors of Spotless Group?

    Investors of Spotless Group include Downer and Pacific Equity Partners.

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