IFM Investors, the infrastructure investment group backed by industry superannuation funds, has bought a 50 per cent stake in Australia’s largest specialist contractor management company ISG Management.
ISGM, which has an annual turnover of more than $500 million, provides installation and technical services to more than 4000 businesses in the telecommunications, media and utilities sectors.
Major clients include Telstra and Foxtel, covering broadband, satellite and NBN installations.
The financial details of the deal have not been disclosed.
“ISGM presented itself as a highly attractive investment opportunity,” said IFM Investors’ head of private capital, Steven Lipchin.
“We are passionate about working in partnership with organisations that have a demonstrated track record in developing innovative models and are poised for significant expansion.
“Over the past six years ISGM has showcased its ability to work with blue-chip clients to engage a diversified subcontractor workforce that delivers exceptional customer experiences. With its experienced management team and nimble strategy, systems and operational capabilities, we believe that ISGM has an exciting future across a number of new industry sectors and we are looking forward to supporting the firm’s growth.”
Adrian Field, co-founder of ISGM, stated that “as we embark on the next phase of our growth journey, ISGM’s board and executive management team welcome IFM Investors and we look forward to working closely together in continuing to realise our vision of delivering exceptional customer experiences on behalf of our clients.”
IFM has been beefing up its resources over recent months, and this week announced the appointment of the former co-head of private equity firm Champ Ventures, Stuart Wardman-Browne, to its private capital team.
He will assist with the raising of funds, sourcing and evaluation of direct investment opportunities, transaction execution, monitoring and management of investments and building and maintaining strong client and third party relationships.
“Stuart brings an exceptional investment record, an extensive network, and proven execution capabilities,” Mr Lipchin said.
The New Daily is owned by a group of industry superannuation funds.