Orbis contracts safe as houses, says ISM
The new owner of troubled property maintenance firm Orbis has moved to reassure its large North West client base that it is business as usual.
Publicly quoted Orbis, which provides property protection services to local authorities, housing associations and registered social landlords, was bought out of administration by Insite Service Management for £49m on 10 January.
Major customers of Orbis include the Salford housing groups Salix Homes and New Prospect Housing, as well as Liverpool City Council, which employs the company in regeneration areas such as Anfield.
David Walker, the newly appointed chief executive, said: "Orbis is a cornerstone investment for ISM. ISM will provide additional working capital, which, together with renewed management energy and focus, will enable Orbis to grow its existing operations and introduce its services to a much wider range of customers in both the public and commercial sectors. ISM is absolutely committed to supporting and developing Orbis' excellent reputation for quality of service and customer care".
ISM said Orbis generates an annual turnover of around £40m and employs some 670 people.
John Jukes, finance director of Orbis, said: "The acquisition by ISM is exceptionally good news for all existing customers, suppliers and staff. An element of uncertainty as to the group's future has been removed and Orbis now has a firm financial platform to allow operations to move ahead quickly."