Bidvest Noonan expands footprint with acquisition of Cordant Services
Bidvest Noonan has signed an agreement with Twenty20 Capital to purchase UK cleaning and security services Cordant Services for an undisclosed sum.
Bidvest Noonan is a major provider of security, cleaning, FoH and ancillary services in the UK & Ireland. The company has greatly expanded its services and footprint in the UK and Ireland in recent years through a combination of organic and acquisition-led growth.
This is the service provider’s fourth transaction so far this year. It acquired Axis Group in January. Other recent takeovers were Interact and its water treatment business H2O Solutions and Irish waste management company Ancove.
The move further increases Dublin-based Bidvest Noonan's footprint, service profile and expertise in the UK and brings its total number of employees to 27,000 and annual revenues beyond £700 million.
Cordant Services, which was founded in 1957 and employs more than 7,000 people, comprises three specialist divisions – Cordant Security, Cordant Cleaning and Cordant Thistle, a specialist and industrial cleaning business. It has a turnover in excess of £170 million and has 1,900 client locations across the UK in a range of sectors.
Declan Doyle, CEO of Bidvest Noonan, said: “This is a landmark moment for Bidvest Noonan and Cordant Services, as together we will deliver even greater support and value to our clients and create more opportunities for our people. It cements Bidvest Noonan’s position as a leading provider of security, cleaning and support services in the UK, with a significantly enhanced footprint, capability and expertise to deliver the highest standards of services to clients across a wide range of sectors and industries.
“Importantly to us, we are achieving this by bringing over 7,000 new colleagues to the Bidvest Noonan team who share our passion and commitment for delivering great value, high standards and excellent service to customers. ”
Guy Pakenham, managing director of Cordant Services, will continue to lead the business with his senior team. He added: “This transaction is a very positive reflection of the quality of our business and all of our people and today marks the beginning of an exciting new chapter for Cordant Services."