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MITIE GROUP PLC

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Company details
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Name: MITIE GROUP PLC
Ticker: MTO
Sector: Business Support Services
Index: 3%
Date joined: 31-Dec-02
EO %: 4.9
Accounts: Mar-13
Revenue (£m): 2120.0
Employees: 72400
Website: www.mitie.com
Ownership Attributes
Employees - individually %:
Employees - through a trust %:
Directors %:
External shareholders %:
SAYE (Yes/No): Yes
SIP (Yes/No): Yes
CSOP (Yes/No):
EMI (Yes/No):

Company description

MITIE Group PLC is a holding company for a group of companies providing management services. It is focused on the provision of outsourcing and energy services in support of the buildings, facilities and infrastructure of its clients. The Company operates in four segments: Facilities Management, Technical Facilities Management, Property Management and Asset Management. On January 10, 2012, it acquired 100% of Utilyx Holdings Limited. On December 6, 2011, it acquired 51% interest of Direct Enquiries Holdings Limited. During the fiscal year ended March 31, 2012, it increased its interest in Service Management International Limited from 50% to 100%. On August 17, 2011, it purchased certain minority interest in five of its subsidiary companies, which included MITIE Cleaning Services Limited, MITIE Engineering Maintenance (Caledonia) Limited, MITIE Landscapes Limited, MITIE Property Services (UK) Limited (MPSUKL) and MITIE Transport Services Limited. In October 2012, it acquired Enara Group Limited.

Employee ownership description

MITIE stands for "Management Incentive through Involvement in Equity." MITIE's original business model under its founder, David Telling, was to take partial equity stakes in small owner-managed businesses. These would eventually become wholly owned by MITIE as the owners' stakes were bought out with MITIE shares as consideration.

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