September 8, 2017
ISS Sold Again!
– Liz Dunshee
ISS announced yesterday that it’s changing hands – for the 5th time in the past 15 years or so. Genstar Capital, a San Francisco-based private equity firm, is buying the company from the previous PE owner – Vestar Capital Partners.
The ISS press release gives a few details on expected timing & transition plans:
The transaction is expected to close by early fourth quarter, subject to customary closing conditions.
ISS will continue to operate independently once the transaction is completed and the current ISS executive leadership team will remain in place.
Based on the press release, Genstar has some experience in backing service providers in the financial services sector – and plans to continue ISS’s strategic infrastructure & ESG initiatives. The press release doesn’t spell out whether “ESG” captures ISS’s involvement in pay-related policies & services, but there’s no indication right now that those activities will change.