Private equity firm takes stake in JLA

PRIVATE equity firm HG Capital has taken a majority stake in commercial laundry equipment supplier John Laithwaite (JLA), it was confirmed over the weekend.

The deal, reported by TheBusinessDesk.com earlier this month, is believed to value the Yorkshire-based business, which provides washers and dryers to hospitals and student accommodation at around £150m.

Matthew Rourke, partner and head of the business services team at HG Capital, said: “JLA is a market-leading business with significant growth opportunities and we are delighted to support the company in its next stage of development.

“JLA has evolved to become one of the most innovative companies in the worldwide laundry industry.”

JLA, based in Ripponden, generated earnings before interest, tax, depreciation and amortisation of about £16m in 2009.

The firm has 340 staff.

JLA’s developments include dryers with in-built fire extinguishers in case of spontaneous combustion.

It has also developed a system for killing superbugs on all wash cycles.

JLA sells to customers including hospital trusts, housing schemes and military bases.