ISG Ltd

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 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.

In March 2016, it was taken private by US-based Cathexis (the investment vehicle of Texan billionaire William Harrison), previously a substantial shareholder, in a £85m takeover.

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). Fit-out was ISG's biggest source of revenue (£1,042.3m in 2020), followed by construction (£690.8m) and engineering services (£293.3m).

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; fit-out remained ISG's largest service line. In 2022, ISG revenues slipped to £2.19bn, while pre-tax profit was down 38% to £11.5m.

Appointed in 2022, ISG CEO Matt Blowers left the business in February 2024, being replaced as CEO by Zoe Price. There were also changes affecting the company secretary, vice-chair and chief financial officer roles.

In July 2024, ISG staff and suppliers were informed that the company would be sold by Cathexis in the very near future, with the sale including a significant investment to recapitalise the business and support a return to normal trading. Staff and suppliers had become concerned about the state of the company's finances in late 2023. On 10 July, the sale was said to be "imminent".

Notable projects

 * Renovation of Royal Festival Hall, London (2007)
 * Fit-out of St Pancras International railway station, London (2008)
 * Renovation of Zayed Sports City Stadium, Abu Dhabi, United Arab Emirates (2009)
 * Lee Valley VeloPark, London (2011)
 * Humber Gateway Wind Farm visitor centre (2013)
 * 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
 * Royal Mint visitor centre, Llantrisant (2016)
 * Wigan Town Hall restoration (2016)
 * BBC Cymru Wales New Broadcasting House, Cardiff (2019)
 * Waterloo International redevelopment, London (ongoing in 2021)
 * Lord's cricket ground, London: redevelopment of Compton and Edrich stands (2019-2021)
 * Cardiff Bus Interchange (due to complete in 2023, opened in June 2024)
 * New facility for UCL Queen Square Institute of Neurology and Institute of Dementia Research (due to complete in 2024).
 * Britishvolt gigafactory, in Blyth, Northumberland (construction started in September 2021 before being suspended in August 2022)