CLEAN acquires Paragon Laundry to become the second largest hospitality flatwork provider in the UK
Posted on Jan 08, 2016
CLEAN – a leading independent laundry company providing linen and workwear rental services – has announced the acquisition of Paragon Laundry (Stevens Hatherley Holdings) to become the second largest hospitality flatwork provider in the UK.
The strategic acquisition closely follows the purchase of Watford Launderers and Cleaners Ltd in October 2015 and marks an exciting start to the new year. The company now has an annual revenue of circa £67m and boasts nine UK plants and a large head office in Berkshire with more than 1,350 employees delivering 130,000 workwear items and 4 million linen items each week.
This latest procurement means that CLEAN’s workforce has grown by over 600% in the last 10 years and takes the business to new heights within the marketplace as its customer repertoire grows to more than 5,500.
CLEAN Chief Executive, commented on the acquisition: “This is a very exciting and strategic acquisition for CLEAN. I have known Paragon and worked closely with the business over many years and the integration of the Paragon business into CLEAN is a logical development. Combining Paragon with CLEAN will extend our market share in linen rental and doubles our workwear turnover.”
“The geographical synergies are excellent and this acquisition will significantly extend our UK coverage. It will also broaden our service offering and see us enter new markets with Special Occasion Linen. The transaction further extends our ownership of the Brilliant Laundry Group to become the single largest shareholder”.
With a 97% customer retention rate CLEAN demonstrates a stellar reputation within the industry. The combination of the two companies is a powerful development as they continue to build on their commitment to innovation, superior service and excellent product range and quality within both the workwear and linen rental sectors.