Multinational cleans up with Bradford acquisition
BRADFORD-BASED specialist cleaning supplies business Enviro Wipes has been bought by Finnish multinational Lindström Group
The deal, for an undisclosed sum, aims to merge the business to expand Lindström’s offering.
Enviro Wipes was founded in 1992 and is based on Hammerson Street in Bradford. It collects and delivers multi-use cotton wipes and sells products including soap, gloves and storage bins.
It turned over £3.1m in its last full financial year, and all of its 40 staff will be kept on by Enviro Wipes’ new owners.
Directors George Parker, Alan Green and Phil Walker, who, with their wives, previously owned the company, will exit the business, with finance director Mr Walker remaining in post during the next few months to help with the transition.
£233m-turnover Lindström specialises in areas such as textile wiper services and workwear solutions, and has another UK site in Bedford where it employs 35 staff.
Mr. Parker said: “Our company remains successful, but we’ve now reached a stage in its growth when we need to make significant changes, to ensure it has the best possible future.
“In Lindström, we’re confident we’ve found the ideal buyer. They’re a large, very successful, family-owned company, which is a leading player in the European textile rental market. The organisation has very high standards in areas such as safety, hygiene and sustainability and an outstanding reputation for delivering customer satisfaction.
“We have every confidence in the new owners and firmly believe they’ll provide our employees with security, opportunities to take on more responsibility, and chances to develop their careers for years to come. As they implement their plans to develop the business at an accelerated rate, we believe they’ll expand the workforce too.”
Soresh Meeda, managing director, Lindström UK, said: “Joining forces with Enviro Wipes provides a great opportunity for us to start with a totally new service in the market. Our new partner has a solid foundation, great products and fantastic customers, including in the printing and packaging, automotive, manufacturing and maintenance sectors.
“Enviro Wipes offers customers many benefits, including employee protection, waste footprint minimisation – through reduced use of disposable wipers – time and money savings, and the ability to focus on core operations.”
Mr Meeda said the acquisition was part of Lindström’s strategy to strengthen and grow its operations in the UK, with textile wiper services becoming important and integral to its offering plus providing an increasing amount of turnover.
Corporate Finance advice on the deal was provided to Enviro Wipes by The Camlee Group,, while Gordons LLP supplied its legal advice.
