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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.

Spotless, which foreshadowed the acquisition in its interim results in February, said the acquisition will further expand the company's service offerings through Australia and New Zealand.

Riley Shelley, which offers painting and building services throughout the country, was founded in 1996 by Ian Riley and Mike Shelley who both wanted to pursue national contracts.

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Comments

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)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Employees

1st↑ESS Support Services Worldwide3,000
2nd-Spotless3,000
3rd↑Sodexo2,400
4th↓Delaware North1,800
5th↓ISS Facility Services1,000
35 facilities management & caterers ranked by total staff in WA

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