Register
 (photo: Bidvest Group)
31.07.2017, 11:03

Bidvest Acquires NOONAN

Company News

Bidvest Group Limited (“Bidvest”) is pleased to announce it has completed an agreement with Alchemy Partners LLP, the majority shareholder in NOONAN, and management, which will see Bidvest acquire the entire shareholding in NOONAN for a consideration of €175 million.

 

The transaction is subject to approval from the South African Reserve Bank and is expected to close in Q3 2017.

 

The existing management team, led by CEO John O’Donoghue, will continue to lead NOONAN, building on the successes achieved in recent years.

 

NOONAN is a leading provider of facilities management services which operates across its targeted geographic markets of the UK and Ireland. Its services include Facilities Management, Technical Services, Security Services, Cleaning Services, Environmental Services and Ancillary Services. The company employs over 13,000 people.

 

Headquartered in South Africa, Bidvest is a diversified publicly listed services, trading and distribution company, employing over 114,000 people across its divisions.

 

Bidvest’s existing facilities management model comprises both hard and soft services and the company has a strong reputation for the quality of its services and its track record in securing high profile outsourcing contracts in its core markets in South Africa.

 

NOONAN’s strong market positioning and positive trading performance has in recent years been underpinned by a programme of continuous investment, service enhancement and organic and acquisition led growth, which has in recent years seen NOONAN acquire a number of businesses such as Resource Group, Federal Security and the Security Services Division of Brink’s in Ireland. 

 

Lindsay Ralphs, CEO of Bidvest Group, said: “We are delighted to have completed this acquisition, which provides us with a unique opportunity and platform to establish a strong presence in the Irish and UK markets. NOONAN has an excellent team of people who share our passion and reputation for professionalism, innovation and excellence in the way we deliver service to our clients. We believe there is a great market opportunity to grow the business further and look forward to working with the NOONAN team to build on the successes they have achieved in recent years to drive superior business performance, grow market share and expand services to clients.”

 

John O’Donoghue, CEO of NOONAN, said: “I would like to welcome Bidvest as our new owners. Our strategy and the substantial investment in our business and brand, coupled with the strong commitment of management and our employees, have allowed us to consistently outperform the market and to continuously enhance the services we provide to our clients.

 

We are now delighted to have attracted a new owner of the scale and calibre of Bidvest, committed to the long-term growth and development of the company and sharing our passion for professionalism, innovation and excellence in the way we deliver services to our clients. We look forward to working with them in realising our joint ambition for the business and to capitalise on the significant opportunities in our sector and key markets.”

article Rating

voteData

leave Reply

 (photo: QSI Facilities Inc.)
Quality Solutions Incorporated  - 07.06.2017, 19:32

QSI Acquires Emcon Associates

QSI Facilitieshas has acquired Emcon Associates Inc., a facilities maintenance and management company serving clients in the retail, banking, restaurant and hospitality, healthcare and...

 (photo: BDO LLP)
BDO LLP  - 24.05.2017, 16:40

Bellrock Acquires Profile

Accountancy and business advisory firm BDO LLP in Birmingham has advised the Shareholders of Profile Consultancy Limited on its sale to leading estate management provider Bellrock, backed by Lyceum...

Panoramic Power sensor installation. (photo: Panoramic Power)
FM Magazine  - 14.06.2017, 17:03

Power is Knowledge

Yaniv Vardi, Managing Director of Centrica’s acclaimed Panoramic Power arm, tells FM Magazine his company is helping businesses harness the IoT by generating actionable energy insights.

 (photo: Confida FM)
Confida FM  - 02.06.2017, 17:12

New Beginnings for Ayrshire FM Business

The launch of Confida FM promises a bright new future for a wife and husband management team - and the facilities management industry in Scotland...and beyond.

 (photo: WPS Parking Systems BV)
WPS Parking Systems BV  - 15.03.2017, 14:04

Next-generation Parking Technology for Celtic Manor

WPS, one of the UK’s leading parking equipment manufacturers, has won a second contract to provide its ParkAdvance™ technology at the prestigious Celtic Manor Resort in Newport.

 (photo: Infomill Ltd)
Infomill Ltd  - 09.01.2017, 12:22

New Version of PartsArena Pro App

Heating engineers across the UK will enjoy a new, updated version of PartsArena Pro from January 2017 as creator, Infomill rolls out its latest improvements to the leading source of heating parts...

Crocus on site. (photo: Bodet Ltd.)
Bodet Ltd  - 22.09.2016, 20:30

Nursery and Garden Produce Staff Go Biometric

Leading nursery and online garden produce retailer Crocus have just installed the very latest Bodet interactive time and attendance system, to provide accurate and reliable staff attendance data...