From 4 March, Enterprise Managed Services will take on building maintenance, household waste and recycling collection, street cleaning, grounds maintenance and a range of other services for the city council.
All 600 City Services staff will transfer to Enterprise, with their terms of employment protected under TUPE regulations.
The evaluation process included visits by council officials to two of the 50-plus councils for whom Enterprise is currently working - Westminster and Solihull.
Enterprise now employs 13,000 people in 150 locations across the UK, providing a range of services to more than 15 million people.
Deputy council leader Matthew Lee said: 鈥淚鈥檓 convinced that Enterprise is the right long-term partner for Peterborough and I am excited about what this will mean for the services being provided through the strategic partnership.
鈥淲e鈥檙e aiming to ensure that our customers experience a seamless handover to Enterprise. Looking ahead, the partnership gives us the opportunity to improve the range and quality of services we provide and use Enterprise鈥檚 experience, systems and economies of scale to do it more efficiently.鈥�
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