The merger brings together Servus' experience in catering, security and maintenance and Hyder's skills in management systems, payroll and human resources to create a total facilities management company.
The combined entity, which will be able to centralise many of its services in procurement, aims to offer better value to clients.
Hyder brings with it the first three major total facilities management contracts at Lincolnshire, Bedfordshire and Teeside county councils.
Nomura acquired Hyder Business Services, the service arm of Welsh water company Hyder for £100m at the end of 2000, after failing to take control of the parent water company in a four-month bidding contest.
Just a week before the agreed acquisition, Hyder Business Services formed a £260m, 10-year PPP with Middlesbrough Council to take on services ranging from facilities to IT and personnel. The deal included the creation of extra local jobs.
Source
The Facilities Business