MITIE has signed up to deliver facilities management services for Lloyds Banking Group in what it describes as a transformational partnership.
The five-year deal, which has a possible one-year extension, is expected to be worth £155m annually.
MITIE, a Bristol-based FTSE250 company whose business covers strategic outsourcing and energy services, will provide a complete range of facilities management services across the bank’s entire UK branch and office estate, including catering, reception, engineering maintenance, cleaning, security, waste management, minor capital reactive works, office space management and a range of other services.
MITIE will also manage utilities expenditure under the contract along with a comprehensive energy management and carbon emissions reduction plan.
Chief executive Ruby McGregor-Smith said: “This partnership will deliver a new style of facilities outsourcing in the UK. It will be one of the biggest private sector facilities management contracts of its type and is a great example of two organisations working collaboratively.
“We are very excited to be building on our long relationship with Lloyds Banking Group and to be providing them with world-class outsourced and energy services in the coming years. We welcome the new team to MITIE.”
The company, which has more than 62,000 employees and revenues of nearly £2bn, will announce what are expected to be record annual results on May 21.