Parts of Swords based-firm sold for €12.5m

Sections of the Dalkia Ireland were sold to UK outsourcing company Mitie for €12.5 million.

Mitie paid €9.5 million upfront to Dalkia Ireland Investments Ltd for what was described as its ‘soft facilities management’ divisions — which includes cleaning and security services.

The payment of the remainder €3 million depends on the performance of companies.

The Swords-based Dalkia is a division of French company Veolia, which runs the Luas and a waste management division in Dublin.

While Mitie has acquired the soft facilities management business of Dalkia in Ireland, Dalkia will retains its energy management, utilities, maintenance and lighting businesses in the Republic and Northern Ireland.

The sections of business sold to Mitie – DFM Providers Ltd and Dalkia Energy & Facilities Ltd – had revenues of €28.8m and profit before tax of €1.4m up to the end of December 2009. The gross assets of the two companies combined as at the same date were €19m of which €10.8m related to intangible assets.

“In partnership with Dalkia we will now be able to offer strategic outsourcing solutions to the Irish market. We are delighted to welcome the management team and all the employees to Mitie,” said Ruby McGregor-Smith, chief executive of the Mitie Group.

Pat Gilroy, managing director of Dalkia Ireland said: “The strategic alliance with Mitie will enable us to deliver a totally self-delivered energy and facilities service offering to our customers and add value to both organisations.

He added: “This will provide us with a strong platform to effectively compete in the post-recession marketplace.”

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