Contractor to fully acquire £7m-turnover firm based out of Sao Paulo and Rio de Janeiro
ISG has agreed a deal to fully take over Brazilian fit-out firm ACE.
ISG previously had a 20% stake in ACE, but announced this morning it has increased its stake in the business from 20% to 69% and agreed to acquire the outstanding 31% by 2018.
ACE provides office fit-out and refurbishment services in Sao Paulo and Rio de Janeiro. In the 2014 calendar year it turned over £7.3m and posted pre-tax profit of £72,000.
The news came as ISG was confirmed as contractor on a £12m restaraunt quarter in Exeter city centre for client Aviva Investors.