Mytilineos Group close to a deal for the acquisition of Unison

Ready to acquire Unison is Mytilineos. Unison is active in facility management, an activity that has experienced high growth rates in recent years. The company is a multi-shareholder company, but the largest shareholder is Mrs Isabella Arvanitis, who previously owned the Health Spa. Negotiations are at an advanced stage and involve 100% of Unison.

Unison is considered one of the largest companies in the sector with an annual turnover of over €50 million and 2,500 employees. Like all facility management companies, Unison started by providing cleaning services in office buildings and industrial facilities.Along the way, building maintenance, refurbishment, energy management, security, support, catering and even outdoor regeneration services were added to its portfolio of activities.

Unison's clientele includes some of the largest groups in Greece, such as Viohalco, Sklavenitis, OTE, DELTA, Athens Brewery, Athens Brewery, Hygeia Group, Metropolitan, Eurobank, PwC, Astir Palace, Great Britain, as well as institutions such as the Municipality of Athens, Stasi, ETAD, Zappeion Hall, Evangelismos Hospital, etc. Unison Human Resources is also a member of the Unison Group, which offers human resources management services.

The company was founded in 1977 with ISS and Hercules Cements as shareholders. In 1988 it passed exclusively under the control of ISS, a Danish-based giant in the industry with a 122-year history. In 2018 the company is acquired by Greek shareholders and in 2021 it is renamed Unison, while maintaining a partnership with the global group of companies ISS. The size of the facility management industry in Greece exceeds EUR 1 billion, and the maturation of the market is expected to double this size.

A recent high-profile acquisition in the sector was that of Cordia by Nikos Karamouzis' investment fund SMERemediumCap, which subsequently acquired ESA Security Solutions, in which Marianna Latsis' family office was also involved. In fact, ESA Securities was previously a company of the ISS Group but was subsequently spun off from the group.

The upcoming acquisition of Unison will be a new business for Mytilineos. The listed company aims to develop synergies with Protergia's existing customers.

VASSILIS KOTSIS