Elis continues its growth strategy in Germany with the acquisition of Wäscherei Waiz
Saint-Cloud, May 3, 2018 - Elis, the leading multi-services group in Europe and Latin America, specializing in the rental and maintenance of flat linen, professional clothing, hygiene and well-being appliances, continues its consolidation strategy in its key markets and announces the signature of an agreement to acquire 100% of Wäscherei Waiz GmbH in Germany. The closing of the transaction is subject to standard regulatory conditions and shall occur at the beginning of June.
Wäscherei Waiz is a family business that runs one laundry near Nuremberg. It generated revenues of c.10 million euros in 2017. The business is fully dedicated to flat linen treatment for Healthcare clients for both short and long stays.
With this transaction, Elis continues the consolidation of its footprint in Germany in the dynamic Healthcare segment.
Commenting on this announcement, Xavier Martiré, CEO of Elis, declared:
"The acquisition of Wäscherei Waiz is an additional step in our development in Germany. It enables Elis to continue consolidating this very fragmented market with a high quality asset in the Healthcare segment in the Northern part of Bavaria, a region where Elis was not previously present. The quick integration of the company and its approximately 200 employees, together with the transfer of know-how, should contribute to Elis' profitable growth trajectory going forward."
Contact
Nicolas Buron
Investor Relations Director - Phone: +33 1 75 49 98 30 - nicolas.buron@elis.com
Audrey Bourgeois
Investor Relations - Phone: +33 1 75 49 96 25 - audrey.bourgeois@elis.com
