Bidvest Group acquires Noonan
Bidvest Group has acquired Dublin-based outsourcing company Noonan for a consideration of E175 million, subject to approval from the South African Reserve Bank.
CEO John O’Donoghue will continue to lead the existing management team.
Noonan is a provider of facilities management services operating across the UK and Ireland. Services include Facilities Management, Technical Services, Security Services, Cleaning Services, Environmental Services and Ancillary Services, with the company employing over 13,000 staff.
The company was bought by Alchemy in 2008 for E90 million.
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.”
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.”