Spotless Diversifies Further

Spotless Group (SPO) will acquire Utility Services Group, which operates under the Skilltech, Fieldforce and Utility Asset Management brands. No details on earnings or the acquisition price – other than it is in a range of $50-100m – were provided and the transaction will be internally funded through debt.

Read More

Spotless Now Cleaner, With Potential

Spotless Group (SPO) is a reformed child, returning to the ASX fold after a 2-year absence. The company is streamlined, having undergone significant restructuring with the divestment of problematic businesses and unprofitable contracts. Spotless provides outsourced facilities management and laundry & linen services across Australia and New Zealand and three brokers on FNArena’s database have initiated coverage of the new stock, all with Buy ratings. The consensus target is $2.00, which suggests 15.3% upside to the last share price.

Read More