Mitie in partnership with Lloyds Banking

Outsourcing and energy services company Mitie has agreed a partnership to deliver facilities management services for Lloyds Banking Group.

The contract, which has been signed for a five-year term, has a possible one-year extension period, with an expected value of around £155m per annum.

Mitie will provide a range of facilities management services across the bank's entire UK branch and office estate.

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Mitie 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.

The share price of Mitie rose 0.24% to 293p by 13:46.

NR