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ResourceTM acquires Pall Mall from Carillion

01 October 2007

The acquisition positions Resource as the largest Irish-based support services company, with annual revenues of £150m.

Resource is paying £22m for Pall Mall which operates throughout England, Scotland and Wales with bases in London, Manchester, Birmingham, Edinburgh and Newport, Gwent. Pall Mall currently employs 7,500 people providing a broad range of support services through its cleaning and security divisions and is the sixth largest company in the soft services sector.

Terence Brannigan, CEO of resource, said: “The acquisition of Pall Mall is a further transformational step for a company that is now one of the fastest growing in the UK and Ireland.It will greatly enhance our capabilities as an outsourcing partner, enabling us to take advantage of the rapidly-growing market for support services that range from cleaning and hygiene to reception and security to car parking management.

Resource was formed following a management-buy-in of Northern Ireland’s leading support services company and it has grown turnover from £30m in April 2006 to £150m today through both acquisition and organic growth.

Mr Brannigan said: “This latest acquisition creates the largest support services company in Ireland with a blue chip client list that includes RBS Group, ABN Amro, Imperial College, Boots, Dell, Michelin and Beaumont Hospital in Dublin. Pall Mall holds key national contracts in the UK and this acquisition catapults us into the major league of support services organisations in that market, providing a strong platform for future expansion by creating a company that can uniquely deliver across the whole of the UK and Ireland. Pall Mall’s management has an excellent track record in delivering growth through the acquisition of large, national contracts both in cleaning and security services. Bringing Pall Mall into the Resource stable will strengthen our overall management capability and help improve the technology drivers in service delivery.

Following the acquisition, resource will have a workforce of more than 15,000 in the UK and Ireland.

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