Garrigues and Uría Menéndez advise on Elis-Indusal deal
Garrigues advised French industrial clothing rental company Elis on its acquisition of Spain’s Indusal Navarra, which was advised by Uría Menéndez on the deal.
Indusal Navarra specialises in linen rental and laundering, particularly in the hospitality, healthcare and industry sectors. The company operates 24 plants and has around 1,450 employees.
The deal was valued at €170 million, according to Mergermarket.
It is anticipated that Indusal’s 2016 revenues will be around €90 million.
According to Elis, the acquisition of Indusal will result in cost savings of €10 million per year by 2019.