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LDC backs MBO of PAW Holdings

Lindström clean up

19 Sep 2016

It has today been announced that leading textile service company Lindström Oy has acquired Enviro Wipes UK Limited, much to the delight of the shareholders, who were advised by Manchester-based corporate finance company and business sales specialist the Camlee Group.

Enviro Wipes specializes in the supply, processing, laundering and distribution of recyclable wipers. Established as Printers Cloth Company in 1992, and rebranded as Enviro Wipes in 2013, the Company serves a client base of over 1,500 customers involved in the print and packaging, automotive, manufacturing and maintenance industries.

Lindström is one of Europe and Asia’s leading textile service companies with over 165 years of experience in the textile industry, offering solutions for the cleanliness and interior design of facilities, corporate clothing and protection.

Present in 24 countries, employing over 3,000 staff and with annual turnover of over €300 million, Lindström offers workwear in all its countries of operation and mat services across 10 European countries. In addition, the service portfolio of the Group includes personal protective equipment, shop towel, hygiene and restaurant textile services as well as the textiles of hotels and the health care industry.

Paul Thompson, Project Director at The Camlee Group lead the transaction and had this to say, “We’re delighted to have closed this deal for our clients. In Lindström we believe we identified an acquirer that has an enviable global reputation and a track record of success. We believe that under Lindström’s astute leadership, Enviro Wipes can continue to grow and prosper as part of the global Lindström Group”.

Phil Walker, Director of Enviro Wipes explained that Camlee played a pivotal role in bringing this deal to completion, “Camlee took an active and hands on role in the management of this process from the outset. Paul has remained focused and proactive throughout and we are grateful to him and all of the team at Camlee. The experience and ability to negotiate a deal that suited the shareholders was important to us and Paul assisted in keeping us on track to completion by remaining objective in the run up to completion”.

Soresh Meeda, Managing Director of Lindström UK said, “First of all, I would like to welcome Enviro Wipes into the Lindström family. People are the most important asset Lindström and Enviro Wipes has. That’s why I am really looking forward to see what we can accomplish together”.

The legal advisors on the deal were Duncan Firman, Partner at Gordons LLP for the sellers and Andrew Cotton, Partner at Hammarström Puhakka Partners for the buyers.