Acquisition of Blesk InCare’s Mats activity
Elis continues its growth strategy in Russia with the acquisition of Blesk InCare’s Mats activity
Saint-Cloud, March 22, 2019 – Elis, an international multi-service provider, offering textile, hygiene and facility services solutions across Europe and Latin America, is continuing its expansion strategy in its key markets with the signing of an agreement to acquire 100% of the Mats activity of Blesk InCare in Russia. The closing of the transaction is subject to customary regulatory conditions and is expected to occur in Q2 2019.
Elis has been present in Russia since 2017 through the acquisition of Berendsen, which has been operating for more than 6 years in Workwear and Ultra-clean markets with strong and regular growth of its revenue and margin.
Blesk InCare has a leading position in the Mats market with 5 sites providing nationwide coverage. With 10,000 customers from all types of industries in the private sector, Blesk InCare’s Mats activity generated revenues of c. 10 million euros in 2018 in a market that has been growing strongly.
Commenting on this announcement, Xavier Martiré, CEO of Elis, declared:
“The acquisition of Blesk InCare’s Mats activity allows Elis to expand its portfolio of activities in Russia and to further expand the existing supply provided in Workwear and Ultra-clean. The Group is now well-positioned in three strongly-growing and profitable segments and we are convinced that Russia has the potential to reach a margin level that would be among the highest of the Scandinavia & Eastern Europe region. The density of the network that we are acquiring, associated with the quality of the assets and the management, will be key attributes for the good and quick integration of the company within the Group. The seller is the current director who founded the company in 1998 and will be appointed country CEO.”
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