HgCapital discusses £150m UK laundry equipment company purchase
UK private equity firm HgCapital is in exclusive talks to purchase John Laithwaite, a commercial laundry equipment supplier, according to reports. The deal could be worth up to £150m (€165.6m).
The firm beat out competition from other private equity houses to enter exclusive talks for the company, which provides washers and dryers to hospitals and student accommodation.
According to reports, HgCapital recently raised a £1.85bn (€2.04bn) buy-out fund, defying a tough operating environment to double the size of its previous fund.
JLA had been looking for a buyer to bring in new management for the company. It made £16m (€17.7m) EBITDA last year, but valuing the business proved difficult as a result of large depreciation and interest charge figures.
HgCapital, formerly known as Mercury Private Equity, invests in companies with an enterprise value of between £10m (€11m) and £400m (€441.6m) in the healthcare, business services, information and communications technology and media sectors.
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Private Equity News» By PE Sector» Buy-out
Private Equity News» By Region» Europe» Western Europe» United Kingdom
Private Equity News» By PE Sector» Buy-out
Private Equity News» By Region» Europe» Western Europe» United Kingdom
