Investee Company – Elis (France)
Investee Company Business Type – Provides rental and cleaning of uniforms, linens, sanitary equipment and floor protection.
Type of Financing – Secondary purchase
Equity Providers – PAI
Equity Leader (Individual) – Dominique Megret
Debt Providers – N/K
Debt Type – N/K
Debt Leader (Individual) – N/K
Equity Amount – N/K
Total Deal Value – Euro 1.5billion
Other Advisors – Financial adviser to PAI – JP MorganFinancial adviser to BC Partners – Goldman Sachs International
Comments – PAI has entered into an agreement to acquire Elis from BC Partners, who bought the company in 1997 from the grandson of the founder.
Elis is a worldwide leader in providing rental and cleaning of uniforms, linens, sanitary equipment and floor protection employing 11,200 people in Europe servicing 250,000 customers and with revenues of approximately Euro 800million.
Dominique Megret, Deputy Head of PAI, commented: “ Elis is a great company, with an outstanding management team. We are confident in its growth potential and its future prospects. PAI is pleased to take over BC Partners successful sponsorship of Elis.”
Managing Partner of BC Partners, Michel Guillet said: “ We are extremely pleased to have reached an agreement with PAI. PAI has a proven track record of successfully supporting industrial companies in their development and I am convinced they are the right partner for Elis.”