Tomagruppen acquired by ISS INTERNATIONAL SERVICE SYSTEM
Context
ISS (International Service System) has announced the signing of a definitive agreement to acquire Tomagruppen, a Norwegian integrated facility management services provider. The transaction supports ISS’s growth strategy in the Nordic region and strengthens its position in a market increasingly driven by demand for comprehensive building management, technical services and workplace solutions. The acquisition represents a strategic step for ISS in Norway, complementing its existing presence across the Nordic markets, particularly in Sweden and Denmark. By combining Tomagruppen’s local expertise, established customer relationships and complementary service capabilities with ISS’s international platform, the transaction is expected to enhance ISS’s ability to deliver integrated solutions to a broader range of clients. The combination reflects wider trends in the facility management sector, where organisations are increasingly seeking partners capable of providing consolidated services supported by digital tools, operational efficiency and sustainability expertise. Tomagruppen’s capabilities in property services, technical maintenance and workplace solutions will strengthen ISS’s offering and create additional opportunities across corporate, public-sector and industrial customer segments. Following completion, the companies plan to implement a phased integration programme focused on aligning operational processes, optimising support functions and extending ISS’s digital capabilities across Tomagruppen’s activities. This includes leveraging asset management platforms and building analytics technologies to improve service monitoring, efficiency and customer outcomes. The transaction is expected to create a stronger Nordic facility management platform, combining broader geographic coverage, complementary expertise and enhanced capabilities to address growing demand for sustainable and technology-enabled building services.
Tomagruppen, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Business Services sector (11.1x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
-> Deep-dive in Business Services market trends
Target
Tomagruppen is a Norwegian-origin integrated facility management services provider operating across Scandinavia and selected European markets. The company supports organisations in managing, maintaining and optimising their buildings through an integrated approach combining technical expertise, operational services and support functions under a single contractual framework. Tomagruppen’s service offering covers a broad range of capabilities, including HVAC design and maintenance, electrical infrastructure management, industrial cleaning, landscaping, security services, waste handling and energy optimisation solutions. By consolidating multiple facility requirements within one provider, the company helps customers improve operational efficiency, simplify supplier management and enhance the long-term performance of their assets. The group serves a diversified customer base including commercial real estate owners, industrial companies, public sector organisations, as well as large retail and hospitality operators. Through a network of regional service centres and digital asset management solutions, Tomagruppen provides real-time monitoring, predictive maintenance capabilities and support to ensure compliance with health, safety and sustainability requirements.
Ent. Value
LOGIN
Equity Value
LOGIN
Multiples
EV / Revenue
LOGIN
EV / EBITDA
LOGIN
EV / EBIT
LOGIN
Historical Financials (NOK)
Similar deals in Business Services
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 06/2026 | GIMV | GROUPE CAP VERT | FRANCE | Facility Management | Cap Vert has completed its fifth leveraged buyout (LBO) with the entry of Gimv as the new majority shareholder, replacing Ambienta, alongside President Eric Girot, the management team, and employees who are reinvesting in the transaction |
| 06/2026 | INVESTCORP | SMART MANAGED SOLUTIONS | UNITED KINGDOM | Facility Management | Investcorp has signed a definitive agreement to acquire a majority stake in Smart Managed Solutions, a UK-based specialist in mechanical and electrical maintenance services for critical buildings and infrastructure |
| 05/2026 | LOOMIS | HERMES TRANSPORTES BLINDADOS | PERU | Facility Management | Loomis AB has agreed to acquire a controlling stake in Hermes Transportes Blindados, marking Loomis's strategic entry into the Peruvian market. This transaction represents the largest acquisition in Loomis's history, underscoring its commitment to expanding its footprint in Latin America, which the company has identified as a priority region for external growth |
| 05/2026 | INITIATIVE & FINANCE | AIRESS | FRANCE | Facility Management | Initiative & Finance, through its midmarket "tomorrow" fund, has completed the acquisition of a majority stake in Airess, a prominent French specialist in fire safety systems. The transaction was highly preemptive, with Initiative & Finance submitting a decisive offer just three weeks into the sale process, which was managed by Edmond de Rothschild, securing the asset ahead of other interested financial sponsors |
| 04/2026 | EURAZEO | NETCO GROUP | FRANCE | Facility Management | Eurazeo has finalized a definitive agreement to acquire a majority stake in the target organization from its previous financial sponsor, Ardian. This strategic transaction marks a significant milestone in the group’s expansion, as the founding family reinvests substantially to accelerate the entity’s development as a global market leader |
| 03/2026 | ASTORG | BARKENE | FRANCE | Facility Management | Astorg has reached an agreement to acquire a majority stake in Barkene from Montefiore Investment, marking the ninth investment from its €1.3 billion mid-cap fund. Barkene’s founder will continue to lead the group during this new phase of institutional ownership |
| 02/2026 | CAPVEST PARTNERS | TSG (TECHNICAL SERVICES GROUP) | FRANCE | Facility Management | CapVest has acquired a controlling stake in TSG from HLD. The transaction values the company at EUR1.8 billion. HLD, which acquired the business in 2020, will retain a 30% minority stake to benefit from future growth |
| 02/2026 | TSG (TECHNICAL SERVICES GROUP) | TEPU HOLDING (PFANNER & FREI + RE.COM ELEKTROANLAGEN) | SWITZERLAND | Facility Management | TSG Group acquired Tepu Holding to significantly bolster its subsidiary, TSG Switzerland. This transaction is part of an aggressive buy-and-build strategy, marking the group’s 45th acquisition in four years |
| 01/2026 | EUROFEU | PIGHI | ITALY | Facility Management | Eurofeu, backed by pan-European private equity firm IK Partners, has acquired Pighi, a key Italian player in the fire safety sector. This transaction marks Eurofeu's entry into the Italian market, previously uncovered by the group |
| 01/2026 | HALMA | SAFETEC | ITALY | Facility Management | Halma plc has acquired the entire share capital of Safetec S.r.l. from the founding Stumpo and Modoni families. The transaction involves a full cash consideration. Safetec will continue to operate as a standalone company within Halma's Safety sector, retaining its current management team led by CEO Marco Stumpo |
REFERENCES
Valuation range: EV 1b - 4b NOK
Revenue range: 1b - 3b NOK
EBITDA range: 100M - 200M NOK
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Tomagruppen by ISS INTERNATIONAL SERVICE SYSTEM are reserved for mynth community members. Register for free to unlock full data.
Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Press release: view release
Target: tomagruppen
Acquirer: iss international service system