HomeResearch & Knowledgeback to Homeback to Research & KnowledgeISS acquisition strategy (A): 2000back to

Case Study

ISS acquisition strategy (A): 2000

By James E. Henderson and Polina Bochukova

13 pages

April 2012

Reference: IMD-3-2282

This case is about driving a serial acquisition strategy – a 10 year journey for ISS, one of the largest integrated facilities services companies in the world. Through its 600 acquisitions over 10 years, the company transformed from being a Nordic cleaning company to a global powerhouse in integrated facilities services offering what the company calls ‘the full house’ of services including: cleaning, catering, security, office support and landscape services. Case (A) describes the early days of how to set up the organization for such an enormous task. The participants are left with the question of ‘how to go about it’ especially given that the normal approach has been to leave the responsibility of search, due diligence, and negotiations typically to a central M&A team. However, given the sheer numbers that would have to be examined — at least 6000 – the task becomes quickly overwhelming.

Learning Objective

Overall the learning objectives are threefold: 1) Determining the nature and organization scope of acquisition programs; 2) Recognizing the different approaches to acquisition integration depending on the strategic overlap with the existing business and need for cultural autonomy; 3) Recognizing when to stop acquisition programs as they can quickly take a life of their own.

Keywords

Mergers and Acquisitions, Acquisition Integration, Strategy, General Management

Settings

World/global
ISS
2000

Available Languages

English

Related material

Video

IMD case studies are distributed through case clearing houses. In order to browse the collection and purchase copies please visit the links below.

The Case Centre

Cranfield University

Wharley End Beds MK43 0JR, UK
Tel +44 (0)1234 750903
Email [email protected]

Harvard Business School Publishing

60 Harvard Way, Boston MA 02163, USA
Tel (800) 545-7685 Tel (617)-783-7600
Fax (617) 783-7666
Email [email protected]

Asia Pacific Case Center

NUCB Business School

1-3-1 Nishiki Naka
Nagoya Aichi, Japan 460-0003
Tel +81 52 20 38 111
Email [email protected]

IMD retains all proprietary interests in its case studies and notes. Without prior written permission, IMD cases and notes may not be reproduced, used, translated, included in books or other publications, distributed in any form or by any means, stored in a database or in other retrieval systems. For additional copyright information related to case studies, please contact Case Services.

Contact

Research Information & Knowledge Hub for additional information on IMD publications

This case study is part of a series

ISS acquisition strategy (A): 2000
ISS acquisition strategy (B): 2007
ISS acquisition strategy (C): 2008

This case study is part of a series

ISS acquisition strategy (A): 2000
ISS acquisition strategy (B): 2007
ISS acquisition strategy (C): 2008

Keep reading

Article

Optimizing omnichannel assortments and inventory provisions under the multichannel attraction model

Assortment optimization presents a complex challenge for retailers, as it depends on numerous decision factors. Changes in assortment can result in demand redistribution with multi-layered consequences. This complexity is even more pronounced for ...

General Management

By Andrey Vasilyev, Sebastian Maier and Ralf W. Seifert

in European Journal of Operational Research

August 2025, vol. 324, no. 3, pp. 799-813, https://doi.org/10.1016/j.ejor.2025.01.035

Article

The anatomy of family business conflict

Understanding conflict in family businesses is a complex but essential study area for practitioners and academics. To enhance theoretical precision and provide practical insights, this article presents a comprehensive framework of family business ...

Customer Centricity Family Business

By Marco Mismetti, Barbara Del Bosco, Cristina Bettinelli and Alfredo De Massis

in Journal of Family Business Strategy

June 2025, vol. 16, no. 2, 100660, https://doi.org/10.1016/j.jfbs.2025.100660

Article

Boundary conditions for organizations in the Anthropocene: A review of the planetary boundaries framework 10 years on

We systematically review business research concerning the planetary boundaries framework: A natural science framework that identifies nine Earth system boundaries that govern the safe operating space for humanity. Ten years after the introduction ...

Sustainability

By Amanda Williams, Paolo Perego and Gail Whiteman

in Journal of Management Studies

June 2025, vol. 62, no.4, pp. 1811-1846, https://doi.org/10.1111/joms.13150

Article

Training the retailers of tomorrow - Upskilling Dilemma

Natalia Wallenberg of Ahold Delhaize describes how one of the largest retailers in Europe is tackling the upskilling dilemma.

Business Transformation Strategy

in I by IMD

Article

Training the retailers of tomorrow

Discover how Ahold Delhaize tackles workforce upskilling with digital training, inclusive learning, and leadership development across global retail brands.

Business Transformation Digital Future Readiness Global Business Human Resources Innovation Talent Management

in I by IMD

Article

Management myth-busters: the innovation hero

Companies often fall into the trap of equating a cool-looking innovation lab with value-creating innovation output, investing in trendy office spaces, speaking in buzzwords, and hiring charismatic innovation leaders. However, these surface-level c...

By Joep de Caluwé

in I by IMD

Article

The Curiosity Farm - Growing innovation

The Curiosity Farm: Nestlé, Toyota & Intel spark innovation by nurturing curiosity, diversity, autonomy, and strong external partnerships.

in I by IMD

Article

The Curiosity Farm - Growing innovation

The Curiosity Farm: Nestlé, Toyota & Intel spark innovation by nurturing curiosity, diversity, autonomy, and strong external partnerships.

Innovation

By Shameen Prashantham and Dominique Turpin

in I by IMD

Article

When it comes to trust, your actions speak louder than words

People don’t work for companies. They work for leaders they trust. And that trust is being tested like never before.

in I by IMD

Article

When it comes to trust, your actions speak louder than words

People don’t work for companies. They work for leaders they trust. And that trust is being tested like never before.

Leadership

By Shelley Zalis

in I by IMD

Optimizing omnichannel assortments and inventory provisions under the multichannel attraction model

By Andrey Vasilyev Sebastian Maier and Ralf W. Seifert
in European Journal of Operational Research August 2025, vol. 324, no. 3, pp. 799-813, https://doi.org/10.1016/j.ejor.2025.01.035

Summary

Contact

Research Information & Knowledge Hub for additional information on IMD publications