M&A
Wexford-based Celtic Linen sold to British textile group as part of €31.5m deal
The linen rental and laundry business was acquired out of examinership in late 2016 by Causeway Capital and has now been sold as part of a deal that values Celtic Linen at almost 7 times earnings
Celtic Linen, the Wexford-based linen rental and laundry business, has been sold to Johnson Service Group, a London listed company, as part of a €31.5 million deal. The company was sold by Causeway Capital, the private equity group backed by the Ireland Strategic Investment Fund (ISIF), which acquired Celtic Linen out of examinership in 2016.
Under the terms of the deal, Johnson Service Group will fund the acquisition on a debt free, cash free basis, ...
