Facilities, property and energy management firm, Mitie Group has acquired a majority stake in Source8, the London-based real estate and technology consultancy, for up to £15m.
Source8 delivers real estate, technology and risk management consultancy services to leading global corporations, with particular expertise in emerging markets and complex environments.
Ruby McGregor-Smith CBE, Chief Executive of Mitie, comments, “We are delighted to have acquired a majority shareholding in Source8. This acquisition will enable us to significantly build upon our consultancy services offering and complement the services we already provide for our clients.'
Simon Venn and Chris Rowley, Co-founders and Joint MDs of Source8, 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.”