Roscommon-based hygiene services company Service Matters was acquired by a German company CWS in a multi-million euro deal.
This is the second acquisition in Ireland by the German firm in the space of a month.
In September, he bought the Dublin-based Specialized Sterile Environments, a company that provides services to the medical and pharmaceutical technology sector.
CWS has 11,000 employees in 15 countries and a turnover of 1.2 billion euros last year. It is owned by the German family investment company Franz Haniel.
CWS took a majority stake in Service Matters, which employs 88 people and is owned by Vincent Collins and his wife. Mr. Collins will remain with the company. Service Matters was founded in 1997 and operates across the island of Ireland.
Clement Higgins, managing director of CWS Ireland, called the Roscommon company “perfect” for the group. CWS said the deal makes the group one of the largest providers of workwear, toilet and floor care rental services in Ireland.
It increases CWS ‘customer base by 2,600 customers and the group now employs more than 750 people in Ireland.
Mr Higgins added that CWS and Service Matters will help drive the growth of the Irish hygiene market.
Public records from Service Matters show that it generated revenue of 6.7 million euros last year, up from 7.3 million euros in 2019. It generated operating profit of 1.3 million euros last year, compared to € 915,000 in 2019. Pre-tax income last year amounted to € 1.2 million compared to € 857,000 in 2019.
Accounts show he had € 2.2million in cash on his books at the end of last year and nearly € 4million in equity. Directors noted that last year each of the company’s divisions performed as expected.
“The group continues to grow and will continue to explore new service lines and routes to minimize any future exposure to downward trends within existing service lines and routes,” they added.
Specialized Sterile Environments, which was founded and sold to CWS by Mary Connell, made a profit of € 570,000 last year on undisclosed sales. It employs more than 200 people. CWS has announced plans to double its cleanroom business in Ireland over the next five years to keep pace with the growth of the Irish biopharmaceutical and medtech industries.
Franz Haniel, the owner of CWS, based in Duisburg, has his roots in the 18th century. The investment firm has around 600 family members. His group of companies employs around 21,000 people and generated sales of 3.1 billion euros last year.