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M&A Deal Summary

Bidvest Acquires NOONAN

On July 31, 2017, Bidvest acquired consumer services company NOONAN from Alchemy Partners for 175M EUR

Acquisition Highlights
  • This is Bidvest’s 1st transaction in the Consumer Services sector.
  • This is Bidvest’s 2nd largest (disclosed) transaction.
  • This is Bidvest’s 1st transaction in Ireland.

M&A Deal Summary
Date 2017-07-31
Target NOONAN
Sector Consumer Services
Buyer(s) Bidvest
Sellers(s) Alchemy Partners
Deal Type Add-on Acquisition
Deal Value 175M EUR
Advisor(s) Baird (Financial)
Macfarlanes (Legal)

Target

NOONAN

Dublin, Ireland
NOONAN is a provider of strategically outsourced services. Our services range from cleaning and security to building services and facilities management. NOONAN was established in 1977 and is based in Dublin, Ireland.

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Buyer(S) 1

Buyer

Bidvest

Johannesburg, South Africa
Category Company
Founded 1988
Sector Distribution
Employees131,326
Revenue 122.6B ZAR (2024)
DESCRIPTION

Bidvest engages in services, trading, and distribution businesses. Bidvest was founded in 1988 and is based in Johannesburg, South Africa.

DEAL STATS #
Overall 5 of 5
Sector: Consumer Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 5 of 5
Country: Ireland M&A 1 of 1
Year: 2017 M&A 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-17 Brandcorp

Johannesburg, South Africa

Brandcorp is a value added distributor of niche industrial and retail products. The company operates three divisions: Tools & Hardware (trading as Matus), Leisure & Accessories (trading as Interbrand) and House & Home (trading under MIC, Prestige, Decocraft and Moto Quip).

Buy -

Seller(S) 1

SELLER

Alchemy Partners

London, United Kingdom

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1997
PE ASSETS 4.0B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Alchemy Partners is a private equity firm that targets investments in the UK, Ireland, and German-speaking Europe. Alchemy looks to commit £25 to £150 million per transaction in areas including financial services, information technology, and telecoms. Historically, the Firm primarily targeted leveraged buyouts, buy-ins, and growth capital financings, but today Alchemy specializes in distressed and undervalued or underperforming businesses. Alchemy Partners was formed in 1997 and is based in London.

DEAL STATS #
Overall 14 of 15
Sector: Consumer Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 10 of 11
Country: Ireland M&A 1 of 1
Year: 2017 M&A 1 of 1
Size (of disclosed) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-11 Sigla Credit

Conegliano, Italy

Sigla Credit is a provider of personal loans for private individuals with an average life of three years and an average size of €4,000. Sigla Credit is based in Conegliano, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-22 Inn Collection

Newcastle Upon Tyne, United Kingdom

Inn Collection is involved in owning and operating a chain of pubs with rooms. The company offers food, beverages, accommodation services, etc. Inn Collection was founded in 2007 and is based in Newcastle Upon Tyne, United Kingdom.

Buy -
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