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Cinven Partners LLP
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Email: Vanessa Maydon

Press releases

14 January 2014

Coor Service Management in agreement with Statoil

The assignment involves Coor Service Management assuming responsibility for hard and soft FM services at Statoil's office and production facilities in Norway, of some 580,000 m², and for the 20,000 Statoil staff that work there. This makes the deal the largest FM contract signed in the Nordics for over ten years.

This agreement between Statoil and Coor covers a large portfolio of FM services such as property services, cleaning, security and reception services, conference services and office services at 31 major office and production sites nationwide in Norway, extending from Oslo in the south to Hammarfest in the north. Deliveries start in May, with a five-year term and a further five-year extension option.

"This is one of the largest-ever outsourcing deals on the Nordic FM market. We're delighted and proud about this deal which means us growing significantly in Norway. This will have positive effects for the group in terms of sales and earnings as early as 2014," commented Mikael Stöhr, President and CEO of Coor Service Management.

This deal is an integrated FM assignment, which means the provider taking substantial responsibility for coordinating, delivering and developing FM services over time. The benefits of having one service provider taking responsibility for all services is greater flexibility and control, while it is also easier to develop and streamline services in the longer term.

"Coor has documented capability in terms of managing large, integrated FM assignments of this type. There is no other Nordic service provider with as many large and complex assignments as us. In Coor, Statoil will gain a long-term collaboration partner they can feel secure and make progress with," added Mikael Stöhr.