Kings Laundry bought out by French hygiene and facility services group Elis
By Maurice Garvey
TALLAGHT-based Kings Laundry has been acquired by a billion-euro French laundry services group Elis, a leading multi-service provider of textile, hygiene and facility services across Europe and Latin America.
The deal is expected to be confirmed by the end of 2018 pending regulatory approval.
Kings Laundry in Tallaght
Kings Laundry operates two plants in Tallaght and Cork dedicated to flat linen.
It generated revenues of €30m in 2017 – approximately a €6.5m increase on the figure recorded the previous year.
Kings Laundry began business 18 years ago servicing restaurants in the Dún Laoghaire area. The business is now responsible for supplying over 50,000 hotel bedrooms at a range of three- and five-star hotels.
Overall, the firm has nearly 600 customers in Ireland and service 2 million pieces of linen each week.
The acquisition will complement the Elis existing operations in Ireland, allowing Elis to offer services to a wider range of customers.
Xavier Martire, CEO of Elis said: “The acquisition of Kings Laundry is an additional step in our development in Ireland.
“The quality of Kings Laundry’s assets, as well as the experience of its management team, will facilitate the integration of the company, whose founder will become country CEO.”
The most recent published accounts for Kings Laundry Limited show the firm made a €1.6m profit during 2016, which pushed accumulated profits up to €12.4m.
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