Announced
Completed
Financials
Sources
Tags
household appliances
maintenance services
repair provider
Acquisition
Completed
United Kingdom
Household Equipment and Products
Friendly
Private Equity
Single Bidder
Private
Majority
Synopsis
Cinven, international private equity firm, completed the acquisition of JLA, a critical asset supply and services business for laundry, catering and heating in the UK, from HG Capital. Financial terms were not disclosed. “Under the leadership of its strong management team, JLA is a well-run, defensive business with a diversified and loyal customer base. We believe JLA has an excellent platform to support its further growth ambitions, including its national engineering platform and sales and marketing capabilities. Cinven’s strategy is to invest in JLA to support the Group’s organic growth – both in its existing core products of laundry and catering solutions and in new areas, including heating and fire safety. We also see a great opportunity for continued growth through buy and build,” Rory Neeson, Cinven Partner.
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