Impellam announces Carlisle Support Services de-merger

Impellam group has announced the de-merger of Carlisle Support Services Group, its wholly owned subsidiary.

In a statement to the London Stock Exchange, Impellam said it wanted to focus more on its core business, “of collaborative managed services and specialist staffing”, and that the de-merger would help drive margin and earnings. It said it believed that Carlisle would prosper from the flexibility of being an independent business. Impellam also announced the names of Carlisle’s board.

Impellam acquired Carlisle back in 2008.

In its statement, Impellam, whose brands include Blue Arrow, Comensura and Lorien, said: “The board believes that Impellam will benefit from being more focused on its core proposition of offering trusted high-value managed services and specialist staffing where collaboration is key to driving group supply and cross selling. This, in turn, will reduce selling, recruitment and operational costs and improve conversions of gross margin to EBITDA.”

Referring to the benefits of the de-merger to Carlisle, which focuses on the provision of cleaning, security, events, retail facilities and support services, the statement continued: “The board believes that the Carlisle business is a non-core division of the Impellam group representing less than 3% of the group’s revenue for the financial year ended 29 December 2017. 

“As an independent business, it is expected that Carlisle will have more flexibility to pursue activities intended to build scale and take marketshare, which may include the acquisition of similar complementary businesses. The business will also benefit from a dedicated Board and anticipated operational efficiencies.”

Impellam announced that the board of directors of Carlisle will be as follows: Paul Evans – CEO; Michael Shirt – finance director; Peter Gaze – non-executive chairman; Angela Entwistle – non-exec director; Philip Osborne – non-exec director.

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