 | |
| Company type | Limited company |
|---|---|
| Industry | fit-out, construction, engineering services |
| Headquarters | , |
Area served | Europe, Middle East, Asia |
Key people | Zoe Price, CEO |
| Revenue | £2,190 million (2022) [1] |
Number of employees | 2,982 (2021) [2] |
| 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.
The business that became ISG was founded as Stanhope Interiors in 1989 by David King [3] who led its management buyout from Stanhope Properties in 1995, when it was renamed Interior plc. [4]
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), [6] previously a substantial shareholder, in a £85m takeover. [7] [8] [9]
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). [6] Fit-out was ISG's biggest source of revenue (£1,042.3m in 2020), followed by construction (£690.8m) and engineering services (£293.3m). [10]
In the year to December 2021, ISG reported revenues of £2.263bn, still not back to its pre-pandemic peak, while pre-tax profits increased to £18.9m, from £8.9m a year earlier; [11] fit-out remained ISG's largest service line. [2] In 2022, ISG revenues slipped to £2.19bn, while pre-tax profit was down 38% to £11.5m. [1]
Appointed in 2022, ISG CEO Matt Blowers left the business in February 2024, being replaced as CEO by Zoe Price. [1]
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The fit-out arm of developer Stanhope has gone from strength to strength under his leadership, expanding after a management buyout in 1995.