Elis: Acquisition of Blesk InCare’s Textile activity in Russia
Acquisition of Blesk InCare’s Textile activity in Russia
Saint-Cloud, October 7, 2021 – Elis, an international multi-service provider, offering textile, hygiene, and facility services solutions, which is present in Europe and Latin America, today announces the signing of an agreement to acquire 100% of Blesk InCare’s Textile activity. The closing of the transaction is subject to customary regulatory conditions and is expected to occur by the end of 2021.
Elis has been present in Russia since 2017 through the acquisition of Berendsen. After the acquisition of Blesk InCare’s Mats activity in 2019, the Group continues its development strategy to take over the Flat Linen and Workwear business of the Russian group.
2021 revenue is expected at 700m Russian rubles (c. €8 million), with Flat Linen and Workwear contributing c. 60% and 40% respectively. Activity was especially resilient during the 2020 pandemic and 2021 revenue will post YoY double-digit organic growth.
Commenting on this announcement, Xavier Martiré, CEO of Elis, said:
“The acquisition of Blesk InCare’s Textile activity allows Elis to expand its portfolio of activities in Russia and to further expand the existing Mats and Ultra-clean services. Outsourcing is still very limited in Russia and the market therefore has a very material growth potential. With this new acquisition, Elis strengthens its positioning in the country and will greatly benefit from the future growth of these very profitable businesses.”
Contact
Nicolas Buron, Investor Relations Director – Phone: +33 1 75 49 98 30 – nicolas.buron@elis.com
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