IMAP is pleased to announce that Degroof Petercam – IMAP Luxembourg, supported by Degroof Petercam – IMAP Belgium, acted as exclusive financial advisor on the sale of 100% of the shares of Nettoservice to WISAG Service Holding Luxembourg.
Nettoservice, a cleaning and maintenance services provider, was a fully owned entity of a Luxembourg-based management company led by the founder’s two children.
After an impressive growth trajectory, both shareholders of Nettoservice were looking for the divestment of the cleaning business to focus on other activities of the group. As part of these efforts, the shareholders appointed Degroof Petercam – IMAP Luxembourg as a trusted independent partner to coordinate a competitive auction process for the company.
In addition to the pragmatic negotiations which led to a mutual understanding, the validation of a good cultural and strategic fit between Nettoservice and WISAG Service Holding Luxembourg were crucial in the successful closing of the transaction. WISAG Service Holding Luxembourg is a part of the WISAG Group, a German group which is active in cleaning and maintenance services. It employs nearly 50,000 people across more than 250 sites in Germany, as well as in Austria, Switzerland, Poland, and Luxembourg.
As of 2023, the Nettoservice brand will be absorbed and the company will operate under the name of Wisag Cleaning Service. Thanks to the merger of the two companies, WISAG became one of the 20 largest employers in Luxembourg.
Degroof Petercam is IMAP’s exclusive partner for M&A activities in France, Belgium, and Luxembourg.