Elis continues the consolidation of the German market
with the acquisition of Curantex
Saint-Cloud, December 14, 2018 - Elis, an international multi-service provider, offering textile, hygiene and facility services solutions across Europe and Latin America, continues its expansion strategy in its key markets with the signing of an agreement to acquire 100% of Curantex GmbH and Curantex GmbH & Co. KG (« Curantex ») in Germany. The closing of the transaction is subject to customary regulatory conditions and is expected to occur by the beginning of 2019.
The Curantex plant, located in Erkelenz, in North Rhine-Westphalia, serves clients in the Healthcare segment: Hospitals and Nursing homes (Flat linen, Workwear and Residents clothes).
Curantex is a family business that generated revenues of c. 14 million euros in 2017. The acquisition, which further expands the existing Elis network in the area of Cologne, will allow the optimization of the existing plants located in the Western Germany, where the density of population is very high and where Elis already operates 5 plants dedicated to Flat linen and 2 plants dedicated to Workwear.
Commenting on this announcement, Xavier Martiré, CEO of Elis, declared:
"The acquisition of Curantex enables Elis to extend its network in the very dynamic region of North Rhine-Westphalia in Germany. It enables Elis to continue consolidating the Healthcare market with a high-quality asset and an attractive portfolio of clients. The rapid integration of this family company, with a family member remaining as co-general manager, will contribute to the continuation of Elis' profitable growth."
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
