Cirio legal advisor when Equinor enters into a Vested outsourcing agreement with ISS regarding facilities management

Cirio legal advisor when Equinor enters into a Vested outsourcing agreement with ISS regarding facilities management

Cirio acted as legal advisor when Equinor and ISS signed the largest Vested outsourcing deal in the Nordics to this date. The contract value is approximately 550 million NOK per year during a five-year period, with a possible five-year extension. The total contract value is estimated to 5,5 billion NOK during a ten-year period. The contract is the largest facility management contract in the Norwegian market.

Equinor and ISS has used the Vested model for their relationship. Vested is a business model where the parties have jointly set strategic goals and a joint vision to achieve desired outcomes. The Vested model implies a new perspective on the relationship and allocation of responsibilities, where the parties have equal responsibility in contributing to each other’s success within the framework of the cooperation.

Cirio is a Center of Excellence for the Vested model and its team consisted of David Frydlinger, Erik Linnarsson, Erik Engström and Josefine Lundström.