Pall Mall Sold on Home Services

Jan

Pall Mall Sold

posted by admin in home cleaning service

Pall Mall, one of the UK’s foremost cleaning and support services companies, has been sold along with fellow contractor Sovereign Soft Services, to Irish services company Resource (NI), a wholly owned subsidiary of the Resource Services Group.

With clients such as Edinburgh Castle, Express Newspapers, Imperial College London, RAF Lakenheath and Royal Bank of Scotland, as well as a raft of Golden Service Awards including ‘Overall Winner’ in 1997 and 2003, Pall Mall has an enviable record in the sector. It currently employs 7,500 people.

Resource - formed through a management-buy-in of Northern Ireland’s leading support services company - has increased turnover from ï¿½30 million in April 2006 to ï¿½150 million today, through acquisition and organic growth. It says the acquisition has made it the largest Irish-based support services company, with annual revenues of ï¿½150 million.

“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,” announced Terence Brannigan, chief executive of Resource. “It will greatly enhance our capabilities as an outsourcing partner, enabling us to take advantage of the growing market for support services that range from cleaning and hygiene to reception and security to car parking.”

Carillion received ï¿½22 million cash for the sale, which is expected to generate a loss on disposal of approximately ï¿½7 million, net of goodwill and disposal costs, subject to a completion accounts process. The company will use the sale proceeds to reduce its net borrowings.

Commenting, Carillion Chief Executive, John McDonough, said: “Pall Mall and Sovereign Soft Services, which we acquired with Mowlem in 2006, are non-core businesses for Carillion and their disposal is in line with our strategy for growing the Group’s support services business through focusing on integrated service solutions for long-term customers, rather than on the single-commodity services of cleaning and security provided by these two companies”.

This press release/article submitted to cleaning43 by CLE@NZINE to place a press release or article online with cleaning43.com contact Jan Hobbs Publishing Editor Direct Tel: +44 (0)1372 811 307 janhobbs@ntlworld.com or John Austen Publishing Director Tel:+44 (0)1580 755 863 Fax: +44 (0)1580 754 669 Mobile 07766 707 888 johnausten@mac.com

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