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Spotless acquires Riley Shelley

Acquisitive national facilities manager Spotless Group has completed the acquisition of the business assets of Riley Shelley, a company founded through a joint venture of a Perth and Brisbane-based painting businesses.

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Sydney
It appears that as a result of/in spite of this acquisition by SSL a large number of suppliers and contractors have been left in the lurch by Riley Shelley owing over $1m just in NSW alone, and putting some of their businesses into administration with KordaMentha in Perth. Wonder if they were trading insolvent prior to the sale? (which could potentially see the sale unwound if so)

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Spotless (SPO)

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Closing price for the last 90 trading days
Source: Morningstar

Employees

1st↑Sodexo Remote Sites Australia4,200
2nd↓ESS Support Services Worldwide3,000
3rd-Spotless3,000
4th-VenuesLive2,500
5th-Serco2,250
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