Elis announces the closing of the acquisition of Lavebras
Source: Nasdaq GlobeNewswire / 23 May 2017 12:20:47 America/New_York
Saint Cloud, May 23, 2017 - Elis, a leading multi-services group in Europe and Latin America, specializing in the rental and maintenance of professional clothing, textile articles, hygiene and well-being appliances, has closed the acquisition of Lavebras.
CADE (Conselho Administrativo de Defesa Econômica), the Brazilian antitrust authority, has cleared without any restriction the acquisition of Lavebras by Atmosfera, Elis' Brazilian subsidiary.
Commenting on this announcement, Xavier Martiré, CEO of Elis, said:
« The closing of the acquisition of Lavebras is a very important step in Elis' development in Brazil and in Latin America. This transaction will enable us to further improve our performance in a country in which we continue to post strong growth, as we demonstrated again in the first quarter of 2017. Brazil is one of our key markets, and we see other opportunities for consolidation to strengthen our position. Our local management will now focus on implementing the integration plan for Lavebras that we have defined and we are delighted to be able to count on the know-how of Lavebras' teams. »
In this transaction, Euro Latina Finance acted as exclusive M&A advisor to Elis.
Elis is a specialized multi-services group, a leader in Europe and Latin America for the rental and maintenance of flat linen, professional clothing, as well as hygiene appliance and well-being services. With more than 25,000 employees spread across 14 countries, Elis' consolidated turnover in 2016 was €1,513 million and consolidated EBITDA reached €468 million. Benefiting from more than a century of experience, Elis today services hundreds of thousands of clients of all sizes in the hotel, catering, healthcare, industry, retail and services sectors, thanks to its network of more than 300 production and distribution centers, which aims to ensure an unrivalled proximity to its clients.
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Source: Elis via Globenewswire