ISG Ltd
| Company type | Limited company |
|---|---|
| Industry | fit-out, construction, engineering services |
| Headquarters | , |
Area served | Europe, Middle East, Asia |
Key people | Matt Blowers, CEO |
| Revenue | £2,026.4 million (2020)[1][2] |
Number of employees | 3,001 (2021)[3] |
| Website | isgltd.com |
ISG Ltd (formerly Interior Services Group) is a privately-owned, London, UK-based construction company. It employs around 2,800 people, mainly in Europe, the Middle East and Asia, and has operations in 24 countries.
History
The business that became ISG was founded as Stanhope Interiors in 1989 by David King[4] who led its management buyout from Stanhope Properties in 1995, when it was renamed Interior plc.
In 1997, the business, Interior Services Group, was floated on the Alternative Investment Market of the London Stock Exchange. It officially changed its name to ISG plc in April 2013.[5]
In March 2016, it was taken private by US-based Cathexis (the investment vehicle of Texan billionaire William Harrison),[2] previously a substantial shareholder, in a £85m takeover.[6][7][8]
In May 2021, ISG reported its results for 2020, affected by the COVID-19 pandemic. Revenue was down 23% to £2.0bn (2019: £2.6bn); underlying EBITDA for the year was £37.6m (2019: £63.3m).[2] Fit-out is ISG's biggest source of revenue (£1,042.3m in 2020), followed by construction (£690.8m) and engineering services (£293.3m).[9]
Notable projects
- Renovation of Royal Festival Hall, London (2007)
- Fit-out of St Pancras International railway station, London (2008)[10]
- Renovation of Zayed Sports City Stadium, Abu Dhabi, United Arab Emirates (2009)
- Lee Valley VeloPark, London (2011)[11]
- Humber Gateway Wind Farm visitor centre (2013)[12]
- Seevic College (2013–14), notable for a legal ruling on the interim payment provisions in Part 8 of the Local Democracy, Economic Development and Construction Act 2009[13]
- Royal Mint visitor centre, Llantrisant (2014)
- Wigan Town Hall restoration (2016)[14]
- BBC Cymru Wales New Broadcasting House, Cardiff (2019)[15]
- Waterloo International redevelopment, London (ongoing in 2021)[16]
- Lord's cricket ground, London: redevelopment of Compton and Edrich stands (2019-2021)[17]
- Cardiff Transport Interchange (due to complete in 2023)[18]
- Britishvolt gigafactory, in Blyth, Northumberland (construction started in September 2021[19] before being temporarily suspended in August 2022)[20][a]
References
- ^ Annual Report 2020, ISG Ltd. Retrieved: 17 May 2021.
- ^ a b c "ISG weathers challenging year". The Construction Index. 17 May 2021. Retrieved 17 May 2021.
- ^ "About us". ISG. Retrieved 17 November 2022.
- ^ "Directors' Deals: King sized sale as ISG founder dumps a third of his stake". Times. 30 October 2005. Retrieved 17 May 2021.
- ^ "It is now officially ISG". The Construction Index. 5 April 2013. Retrieved 17 May 2021.
- ^ "AIM - Cancellation - ISG Plc". Proactive Investors. Retrieved 17 May 2021.
- ^ "Takeover of AIM listed ISG Plc by Cathexis". BDO. Retrieved 17 May 2021.
- ^ "ISG sets delisting date". The Construction Index. 26 February 2016. Retrieved 17 May 2021.
- ^ "ISG profits tumble 80%". The Construction Index. 12 July 2021. Retrieved 12 July 2021.
- ^ "News | Interactive Investor". Iii.co.uk. 9 September 2008. Retrieved 2 February 2013.
- ^ ISG installs timber cycling track at Olympic Velodrome The Construction Index
- ^ "£3m Grimsby wind farm base contract handed out". Grimsby Telegraph. 27 March 2013. Retrieved 31 January 2014.
- ^ Fenwick Elliott, ISG Construction Ltd v Seevic College, published 3 December 2014, accessed 5 August 2022
- ^ "ISG takes Wigan Town Hall back to the future". The Construction Index. 11 July 2013. Retrieved 6 August 2020.
- ^ "ISG named as main contractor for BBC Wales new headquarters at Central Square scheme in the centre of Cardiff". Wales Online. 18 November 2015. Retrieved 25 September 2017.
- ^ Weinfass, Ian (24 September 2020). "Client to reimburse ISG as cost on Waterloo job rises". Construction News. Retrieved 17 May 2021.
- ^ "Redevelopment at Lord's enhances world-class experience at the home of cricket". Lord's. Retrieved 18 May 2021.
- ^ Gregory, Rhys (3 December 2019). "ISG secures £89 million Cardiff transport interchange project". Wales247. Retrieved 20 November 2020.
- ^ Haill, Oliver (6 September 2021). "Construction begins on UK's first battery gigafactory". Proactive Investor. Retrieved 31 August 2022.
- ^ Lowe, Tom (16 August 2022). "ISG pauses work on £2.6bn car battery 'gigafactory' amid funding delays". Building. Retrieved 30 August 2022.
- ^ Jolly, Jasper (29 September 2022). "Shock therapy: turmoil engulfs Britishvolt's £3.8bn battery factory". Guardian. Retrieved 29 September 2022.