Sodexo buys property management services business for £5.5m
WS Atkins is to sell its UK Asset Management business to French facilities management firm Sodexo for £5m payable on completion, together with a deferred conditional amount of £0.5m.
David Tonkin, UK managing director, said: “Our Asset Management business provides property management services which have operated alongside Atkins’ core businesses of engineering design consultancy.”
“We have for some time believed that this business would be best developed through integration with a company dedicated to on-site service solutions. We are therefore delighted that Sodexo will continue to develop this business under its brand.”
Sean Haley, who has led Atkins’ UK Asset Management business for the past seven years, will become chief operating officer of Sodexo Corporate Services Integrated Facilities Management.
The transaction is due to complete by the end of November.