Northern Ireland-based soft services company, Resource, has acquired Dublin support services company Masterclean for an undisclosed sum.
Masterclean, which is based in Santry, is a privately-held company which employs 1,000 people providing a range of cleaning, security and mat rental services to companies such as Aer Lingus, GlaxoSmithKline, Hertz and the Department of Enterprise, Trade and Employment. Its managing director, Michael Hourican, who founded the company in 1985, will continue to work in the business.
Resource provides cleaning and hygiene, security, reception services, car park management and other support services to private and public sector clients. Following its latest acquisition, it will have a workforce of nearly 8,000 in Ireland, with turnover of around €100 million. Its customers include Beaumont Hospital, Liffey Valley Shopping Centre, Bank of Scotland and Ulster Bank.
The company was formed in March 2006 from a management buy-in of Northern Irish firm Maybin Support Services. The management buy-in, led by current chief executive Terence Brannigan along with Paul Bean and Scott Brannigan, was backed by Dublin-based specialist investment firm Lioncourt Capital.
In August 2006 the company acquired Grove Services Group, the second largest provider of property care services and facilities management in Northern Ireland. In November 2006 it acquired Corporate Cleaning Services of Limerick which specialises in clean-room environments. Following the acquisitions, the company rebranded as Resource.
Mr Brannigan said its acquisition of Masterclean, which was supported by Ulster Bank, was part of a wider strategy to expand its operations.
"Recent acquisitions both in Northern Ireland and the Republic are part of our buy and build strategy designed to create a leading soft services company throughout Ireland and the UK," he said.
