French laundry services multinational Elis is to acquire 100% of Kings Laundry, a leading provider of bedlinen, bathroom and restaurant services to many Irish hotels.

Kings Laundry operates two plants in Cork and in Dublin dedicated to ‘flat linen’, meaning such items as table-cloths and bedsheets. It had revenues of about €30m in 2017, €7m higher than in 2016. 

Elis already has operations in Ireland and the company said the acquisition will deliver synergies and widen the customer base.

Kings employs between 450 and 550 people, depending on the season, servicing around two million pieces of linen weekly for almost 600 customers. 

Deal consideration was not disclosed, with press reports speculating on a figure of €22m to €30m. Oranday Holdings Ltd, the Kings Laundry parent company, is owned by founder Robert McGovern (44).

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The business ramped up substantially in 2016, with an €8.5m fixed assets investment. Total liabilities in December 2016 amounted to €8m, and year-end 2016 net worth was €12.2m.

Elis chief executive Xavier Martiré said: “The acquisition of Kings Laundry is an additional step in our development in Ireland. The quality of Kings Laundry’s assets as well as the experience of its management team will facilitate the integration of the company, whose founder will become country chief executive.”

Elis is a global multi-service provider which offers textile, hygiene and facility services in 28 countries and employs 45,000 people. It reported revenues of €2.2 billion last year, up more than 40% on 2016.

It acquired British competitor Berendsen in a £2.2 billion deal last year. According to French investment service capital.fr, the company was founded in 1883 and now controls 12% of the market across its European operations. Around 66% of its revenues come from France, with northern Europe contributing 15%, southern Europe 10%, and Latin America 9%.

The deal is subject to Competition and Consumer Protection Commission approval.