Bidvest Noonan (“the Group”) is pleased to announce it has signed an agreement with Twenty20 Capital, to acquire Cordant Services, a leading UK provider of cleaning and security services, for an undisclosed consideration.
This move further expands Bidvest Noonan’s leadership position, footprint, service profile and expertise in the UK. It also brings the total number of employees to more than 27,000 employees and annual revenues beyond £700 million.
Founded in 1957 and employing more than 7,000 people, Cordant Services is made up of three dedicated divisions Cordant Security, Cordant Cleaning and Cordant Thistle, a specialist and industrial cleaning business. With a total turnover in excess of £170 million, Cordant Services operates across 1,900 client locations throughout the UK in a range of industries.
Bidvest Noonan is a leading provider for services such as Security, Cleaning, Front of House and Ancillary Services in the UK & Ireland. The company has significantly expanded its services and footprint in the UK and Ireland in recent years through a combination of organic and acquisition-led growth, to consolidate its leadership position in Ireland and become a market leader in the UK.
Welcoming the announcement, 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. We look forward to working with our new colleagues to further enhance the services and supports to clients and build on their successes to date.”
Managing director of Cordant Services, Guy Pakenham, who together with his senior team will remain at the helm of the business, 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. I am thrilled that we are now part of Bidvest Noonan. Bidvest Noonan is an exceptional company whose leadership team is passionate about delivering outstanding value to clients and supporting their people.”
Today’s announcement follows Bidvest Noonan’s acquisition of Axis Group, a leading UK provider of Security, Cleaning and Front of House Services, in January 2021.