Mitie Group PLC, the FM services company, has acquired a majority shareholding in the London-based risk management advice company Source8. Mitie has large-scale national contracts such as Rolls-Royce, Cable & Wireless and Marks & Spencer and high-profile contracts such as The Tower of London and the Royal Opera House.
Simon Venn and Chris Rowley, co-founders of Source Eight Limited, said: “This is a tremendously exciting milestone for Source8 and it will enable us to secure new growth for the company across all our service lines. With Mitie’s support, we will have the ideal platform from which to expand our international presence and serve our clients more efficiently, whilst maintaining the exceptionally high level of performance and quality for which we are known.”
And Ruby McGregor-Smith CBE, Chief Executive of Mitie, said: “This acquisition will enable us to significantly build upon our consultancy services offering and complement the services we already provide for our clients.”
