Idverde

Idverde is the French leader in the creation and maintenance of green spaces, performing services on behalf of municipalities or corporates. A subsidiary of the Danish ISS group, Idverde was considered non-strategic by its shareholder when acquired by Chequers.

Value creation

Chequers bought a 100% interest in Idverde alongside its management team in a primary LBO. Value creation first required a plan to separate Idverde from its original group, involving the creation of independent central functions, particularly financial. Many small-scale external growth deals took place in France, making it possible to improve the group’s national coverage. Three significant external growth transactions were also carried out in the United Kingdom, enabling Idverde to become the leader also on this market. In 2018, Chequers divested Idverde to a private equity fund supporting the management plan to further develop the group on a pan european basis.

Investment year
2014
Turnover at acquisition
€200-300m
Type of operation
Carve-Out
Business sector
B2B Services
Country
France