Freeths advises leading private investment firm Twenty20 Capital on disposal of Cordant Services

Freeths has provided legal advice to Twenty20 Capital (the leading European Staffing, Engineering & Industrial, Human Capital technology, private investment firm) on the sale of Cordant Services to Bidvest Noonan, the Dublin-based security, cleaning and support services company which is part of the South African conglomerate, Bidvest.

Founded in 1957, Cordant Services is made up of three dedicated divisions: Cordant Security, Cordant Cleaning and Cordant Thistle, a specialist and industrial cleaning business. With a total turnover of approximately £170 million, it operates across 1,900 client locations in a range of industries. The company is a division of Cordant Group, one of the largest social enterprises in Britain.Tristan Ramus, Twenty20 Capital Founder and Investment Director, says: “We are delighted to be able to announce the sale of Cordant Services to Bidvest Noonan. The exit of Cordant Services demonstrates our ability to drive market-leading performance with an outstanding management team and find the right partner at the right time for the future success of the business. After a long history of exceptional service delivery, and having truly established itself as a trusted brand, we recognised that Cordant Services would be better positioned with an aligned organisation”.Dahren Naidoo led the Freeths team advising Twenty20 on the transaction, supported by Andy Francey, Olivia Johnson and Claire Boyce.