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MITIE was founded by [[David Telling]] and Ian Stewart as ''MESL'' in 1987.<ref name=history>[http://www.mitie.co.uk/file.axd?pointerid=370f8e8d530b4094a014369ff0f465be&versionid=40bb2167b502434fbcc12c0aed5abc94 MITIE: History]</ref> It was first listed on the [[London Stock Exchange]] in 1988.<ref name=history/> It merged with ''Highgate & Job'' in 1989 and was renamed the ''MITIE Group''.<ref>[http://www.independent.co.uk/news/business/news/david-telling-the-high-and-the-mitie-688278.html David Telling: The High and MITIE] The Independent, 21 March 2001</ref>
MITIE was founded by [[David Telling]] and Ian Stewart as ''MESL'' in 1987.<ref name=history>[http://www.mitie.co.uk/file.axd?pointerid=370f8e8d530b4094a014369ff0f465be&versionid=40bb2167b502434fbcc12c0aed5abc94 MITIE: History]</ref> It was first listed on the [[London Stock Exchange]] in 1988.<ref name=history/> It merged with ''Highgate & Job'' in 1989 and was renamed the ''MITIE Group''.<ref>[http://www.independent.co.uk/news/business/news/david-telling-the-high-and-the-mitie-688278.html David Telling: The High and MITIE] The Independent, 21 March 2001</ref>


Their strategy of growth through acquisition has seen MITIE acquire several businesses over the past few years and in 2006 it acquired Initial Security, a leading [[security]] business.<ref>[http://www.ukbusinesspark.co.uk/mitieaaa.htm UK Business Park: MITIE]</ref> Following on in 2007 MITIE acquired Robert Prettie & Co. Ltd for £32.7m and incorporated the specialist plumbing, heating and mechanical services business into their Property Services division. In 2008 MITIE continued its acquisitions strategy through the acquisition of Catering Partnership,<ref>[http://www.cnplus.co.uk/news/mitie-confident-despite-softer-economy/1008019.article Mitie confident despite softer economy]</ref> and DW Tilley. The purchase of DW Tilley allowed MITIE to extend their roofing services nation-wide.<ref>[http://www.nebusiness.co.uk/business-news/latest-business-news/journal-business-news/2008/07/03/small-mid-size-company-deal-of-the-year-51140-21218762/ North East Business]</ref> 2009 saw the acquisition of Dalkia Technical Facilties Management for £130m<ref>[http://www.proactiveinvestors.co.uk/companies/news/7232/mitie-to-buy-uk-arm-of-dalkia-for-130-mln-to-raise-40-mln-via-placing-7232.html MITIE to buy Dalkia for £130m]</ref> to booster their own facilities management division and an expansion into Social Housing with the purchase of Environmental Property Services (EPS) for £38.5m<ref>[phx.corporate-ir.net/phoenix.zhtml?c=133307&p=irol-newsArticle_Print&ID=1357901&highlight= MITIE buys EPS]</ref>.
Their strategy of growth through acquisition has seen MITIE acquire several businesses over the past few years and in 2006 it acquired Initial Security, a leading [[security]] business.<ref>[http://www.ukbusinesspark.co.uk/mitieaaa.htm UK Business Park: MITIE]</ref> Following on in 2007 MITIE acquired Robert Prettie & Co. Ltd for £32.7m and incorporated the specialist plumbing, heating and mechanical services business into their Property Services division. In 2008 MITIE continued its acquisitions strategy through the acquisition of Catering Partnership,<ref>[http://www.cnplus.co.uk/news/mitie-confident-despite-softer-economy/1008019.article Mitie confident despite softer economy]</ref> and DW Tilley. The purchase of DW Tilley allowed MITIE to extend their roofing services nation-wide.<ref>[http://www.nebusiness.co.uk/business-news/latest-business-news/journal-business-news/2008/07/03/small-mid-size-company-deal-of-the-year-51140-21218762/ North East Business]</ref> 2009 saw the acquisition of Dalkia Technical Facilties Management for £130m<ref>[http://www.proactiveinvestors.co.uk/companies/news/7232/mitie-to-buy-uk-arm-of-dalkia-for-130-mln-to-raise-40-mln-via-placing-7232.html MITIE to buy Dalkia for £130m]</ref> to booster their own facilities management division and an expansion into Social Housing with the purchase of Environmental Property Services (EPS) for £38.5m<ref>[http://online.wsj.com/article/BT-CO-20091120-709389.html MITIE buys EPS]</ref>.


==Operations==
==Operations==

Revision as of 17:28, 20 November 2009

MITIE Group PLC
Company typePublic (LSE: MTO)
IndustryFacilities Management
Founded1987
HeadquartersBristol, UK
Key people
Roger Matthews, Chairman
Ruby McGregor-Smith, CEO
Revenue£1,521.9 million (2009)
£78.6 million (2009)
£54.4 million (2009)
Number of employees
54,000 (2009)
Websitewww.mitie.co.uk

MITIE Group PLC (LSE: MTO) is a British strategic outsourcing and asset management company with their head-office in Bristol. MITIE operates mainly in the UK providing facilities, property and asset management services, but also has operations in Ireland and The Netherlands. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

History

MITIE was founded by David Telling and Ian Stewart as MESL in 1987.[1] It was first listed on the London Stock Exchange in 1988.[1] It merged with Highgate & Job in 1989 and was renamed the MITIE Group.[2]

Their strategy of growth through acquisition has seen MITIE acquire several businesses over the past few years and in 2006 it acquired Initial Security, a leading security business.[3] Following on in 2007 MITIE acquired Robert Prettie & Co. Ltd for £32.7m and incorporated the specialist plumbing, heating and mechanical services business into their Property Services division. In 2008 MITIE continued its acquisitions strategy through the acquisition of Catering Partnership,[4] and DW Tilley. The purchase of DW Tilley allowed MITIE to extend their roofing services nation-wide.[5] 2009 saw the acquisition of Dalkia Technical Facilties Management for £130m[6] to booster their own facilities management division and an expansion into Social Housing with the purchase of Environmental Property Services (EPS) for £38.5m[7].

Operations

MITIE stands for Management Incentive Through Investment Equity, and the company's managers own a substantial minority stake in the business. MITIE's business model is based on taking 51% equity stakes in start up businesses which fall into its broad fields of activity.[8] The management of the new business invests the remaining capital and if certain targets are met they may sell the balance of the business to MITIE after a fixed period for a sum based on the profits achieved (an earn out). Payment is made in a mixture of cash and MITIE shares. The managers usually remain with MITIE after the earn out.

As a result of this business model MITIE has a large number of group businesses which have significant managerial autonomy but share internal systems, Human Resources, IT and marketing resources. MITIE works with their clients through three core channels; stategy & consulation, facilties & property management and providing service. This makes their clients buildings and facilties smarter, greener, safer and better run through providing services from Asset Management, Business Services, Catering, Cleaning & Environmental Services, Client Services, Facilities Management, Painting, Property Management, Roofing and Security.

Company structure

MITIE is split into three division of Facilities Management, Property Management and Asset Management.

Facilities Management division offers services:

  • Business Services
  • catering
  • Cleaning
  • Facilities management
  • Landscaping
  • Pest control
  • PFI
  • Security

Property Management division offers services:

  • Building refurbishment, fit-out, roofing and maintenance.

Asset Management division offers services:

  • Mechanical and electrical engineering & maintenance
  • Energy generation & management
  • ICT & infrastructure

Sectors

MITIE operates in the following sectors:

Private Sector

  • Property management
  • Manufacturing and logistics
  • Financial and professional services
  • Retail
  • Transport
  • Science and technology
  • Healthcare and pharmaceutical
  • Leisure

Public Sector

  • Central and local government
  • Social housing
  • Education
  • Transport
  • Utilities

Strategic Partners

  • Service Management International

MITIE in the community

MITIE makes a significant contribution to the communities they operate in throughout the UK. This contribution is demonstrated by numerous initiatives including; volunteering, in-kind donations, pro-bono support and sponsorships.

MITIE focuses on six regional charities, the Prince's Trust and is a founding member of its Construction and Business Services Leadership Group.

The six regional charities for 2009 are:

MITIE also run several Skills Centres[9] and a Real Apprentice[10] scheme.

References

  1. ^ a b MITIE: History
  2. ^ David Telling: The High and MITIE The Independent, 21 March 2001
  3. ^ UK Business Park: MITIE
  4. ^ Mitie confident despite softer economy
  5. ^ North East Business
  6. ^ MITIE to buy Dalkia for £130m
  7. ^ MITIE buys EPS
  8. ^ Mighty job ahead for new boss at MITIE
  9. ^ Skills Centre
  10. ^ Real apprentice

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=Mitie&oldid=326959383"