Vector Facilities Management
Vector Workplace & Facility Management was a market-leading supplier of facilities management and related services in Ireland. At the time of Ion Equity’s involvement, it managed the Irish facilities of Hewlett Packard, the largest outsourcing contract in the country at the time, as well as a number of other blue-chip businesses.
The business provided facilities services, including the provision and management of security, janitorial, catering, maintenance and engineering services. It managed over 2.3 million square feet of facilities nationwide.
Ion Equity led the acquisition of a significant minority stake in the business from its managers in August 2003. Ion led the sale of the business in December 2004 for €20m, generating a strong return for investors, well in excess of expectations, within 16 months.