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 , 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, ...
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