Services

CLEAN Linen

CLEAN is a leading laundry service provider in the UK

December 2015
Investment Date
UK
Country

Business Overview

  • Founded in 1886, Clean Linen provides Laundry services (sheets, towels and work-ware), principally for the UK hospitality sector
  • Appointed launderer and dry cleaner to Her Majesty the Queen, also exclusive laundry supplier to the 2012 London Olympics
  • Supplies some of the largest hotel chains in the UK, 97.3% client retention rate
  • Recently acquired its competitor, Paragon, roughly doubling revenue

 

Investment Thesis

  • Well invested facilities with the most advanced laundry factory in the UK
  • Sector in structural growth, driven by domestic and international tourism
  • Increasing trend to outsource laundry services by hotel chains to save space and energy
  • Acquisition provides huge opportunities for top-line and cost synergies
  • Need for energy efficiency driving consolidation in the sector

 

Origination

  • Primary deal; direct origination through company advisor
  • Largest PDM deal to date. PDM is the sole lender

www.cleanservices.co.uk