News
Acquisition of Federal Security
The Alchemy Plan has provided follow-on funding to Noonan Services Group to finance the acquisition of Federal Security, a leading Irish security business with operations in the Republic of Ireland and Northern Ireland.
The Plan acquired Noonan, Ireland's leading cleaning business, in September 2008. A key part of the strategy for Noonan was to develop its service offering through acquisition and Federal had been identified as a strategically attractive potential target at the time of acquisition.
The combination of Noonan and Federal creates Ireland's leading facilities services platform, providing cleaning services, security services, industrial services, pest control, waste management and general outsourced services nationwide. Following the acquisition Noonan will have more than 8,000 staff and more than 1,700 customers.
Commenting on the acquisition, Noonan's Chief Executive, John O'Donoghue said:
"Our strategy is focused on a combination of organic and acquisitive growth. The acquisition of Federal Security further enhances our capability to provide integrated soft services throughout Ireland".