Elis closes the acquisition of BW Textilservice in Germany
23 Mars 2018 - 05:40PM
Elis closes the
acquisition of BW Textilservice in Germany
Saint Cloud,
March 23, 2018 - Elis, a leading multi-services group in Europe
and Latin America, specializing in the rental and maintenance of
professional clothing, textile articles, hygiene and well-being
appliances, announces it has closed the acquisition of 100% of BW
Textilservice in Germany.
BW Textilservice is a family
business that operates a laundry in the Stuttgart region. It
generated revenues of c. 24 million euros in 2017, entirely in the
Healthcare market. Its current manager will remain plant
director.
With this transaction, Elis enters
the Stuttgart region - one of the biggest urban areas in Germany -
located in the state of Bade-Wurtemberg, the third-biggest economy
and demographic area in the country.
BW Textilservice has posted strong
revenue growth over the last years, underscoring the Healthcare
market's strong potential as well as the favorable positioning of
the company in the region.
Commenting on this announcement,
Xavier Martiré, CEO of Elis, said:
"The acquisition
of BW Textilservice reinforces Elis' presence
in the German Healthcare segment, with a high-quality industrial
asset. The quick integration of the company and its approximately
500 employees, together with the transfer of know-how, should
contribute to Elis' profitable growth trajectory going
forward.
The German market, the biggest in Europe with
turnover of more than 4 billion euros in 2017, remains very
fragmented. Elis will therefore aim at further increasing its
market share in the country, through both organic and external
growth."
Contact
Nicolas Buron, Investor
Relations Director - Phone: +33 1 75 49 98 30 -
nicolas.buron@elis.com
Elis closes the acquisition of BW
Textilservice in Germany
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Elis via Globenewswire
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