Bidvest Noonan acquires specialist support services concern Axis Group
04 February 2021
BIDVEST NOONAN has announced its acquisition of the Axis Group, the specialist provider of security, cleaning and Front of House services, for an undisclosed consideration.
Founded back in 1994 and employing 4,000 members of staff, the Axis Group has combined revenues of approximately £120 million and comprises Axis Security (one of the UK’s leading security businesses), Axis Cleaning (an established provider of specialist cleaning services) and Acuity, a specialist provider of Front of House management services.
The Axis Group operates nine regional offices and boasts a strong presence across a range of industry sectors including corporate, retail, transport, manufacturing and the public sector.
Bidvest Noonan, which is part of The Bidvest Group, is a prominent provider of outsourced services including security, cleaning, technical and ancillary services in the UK and Ireland. The company has expanded its services and footprint in recent years through a combination of organic and acquisition-led growth, in turn creating a significant security and FM business with over 20,000 employees.
Following the transaction, Bidvest Noonan’s annualised group revenues will increase to over £500 million, over 50% of which derives from security services, duly cementing its position as the fourth largest provider of security services in the UK and the leading provider in Ireland.
The transaction also significantly accelerates the growth of its UK cleaning business and consolidates Bidvest Noonan’s position as one of the fastest-growing services businesses in the UK, as well as a market-leader in Ireland.
Reflecting Bidvest Noonan’s recent and ongoing growth in the UK, following this transaction approximately 60% of the Group’s revenues will originate in the UK, with the remainder being generated in Ireland.
Speaking about the news, Declan Doyle, CEO of Bidvest Noonan, explained: “The Axis Group is a great business supported by a team of excellent people. Its purchase represents the continued realisation of our strategy to grow our UK business and strengthen our position as a leading provider of security and facilities management services. We’re very excited about the future prospects for the business and look forward to working with the team to build on the company’s successes to date.”
Commenting on behalf of the Axis Group, CEO Jonathan Levine stated: “Bidvest Noonan is a great partner for our business. It’s committed to the long-term growth and development of the company, as well as our 4,000 employees. With a reputation for high standards, excellent customer service and long-lasting, trust-based relationships with clients, Bidvest Noonan’s values and approach are highly complementary to our own business and we very much look forward to working with the company to continue delivering high standards of service for our clients.”