Ankara Laundry (Ankateks) has sold a substantial stake to Servizi Italia SpA
The private shareholders Ankara Laundry (Ankateks) have sold a 40% stake in the company to Servizi Italia SpA. They have also signed an agreement to sell a further 15% in 2017. Financial details have not been disclosed.
Ankateks provides laundry, dry-cleaning, textiles rental, housekeeping and other related logistical services mainly to hospitals, hotels and sports clubs. The group pursued an aggressive strategy of inorganic growth in recent years, acquiring majority stakes in a number of businesses. As a result, Ankateks is composed of a number of inter-related firms that cooperate to provide laundry services with maximum efficiency. This has also allowed the group to expand to other markets, to benefit from existing customer relationships and to increase production capacity as well as to capitalize on a large pool of talented and entrepreneurial managers.
Servizi Italia SpA is an Italian company primarily engaged in the provision of laundry and sterilization services for health care sector. The company structures its business into three main segments: Wash-hire Services; Linen Sterilization and Surgical Instruments Sterilization.
Following the transaction, Ankateks' current top management team will continue to run the company in partnership with Servizi Italia. The transaction will allow Ankateks to make the most of the growth and consolidation opportunities that a rapidly developing Turkish market offers and will turn the company into the undisputed market leader.
Oaklins' team in Turkey acted as financial advisor to the seller in this transaction.
Talk to the deal team
Related deals
Largest AIM IPO in the business support services sector over the past five years has been completed
MHA plc raised US$131 million (£98 million) through a placing and retail offer, achieving a market capitalization of approximately US$363 million (£271 million) on admission. This was the largest AIM IPO in the business support services sector over the past five years. The IPO provides a platform for continued investment in technology, talent and acquisitions, supporting the group’s ambition to become a top 10 UK professional services firm.
Learn morePredatech Limited has been acquired by Ekco Group
UK-based cybersecurity consultancy Predatech Limited has been acquired by Ekco Group.
Learn moreManolete Partners plc has completed a successful debt refinancing
Manolete Partners plc has signed a new revolving credit facility (RCF) with its existing provider, HSBC. The new RCF provides Manolete with the same level of facility as the previous arrangement, at US$22.6 million (£17.5 million), but with a reduced margin and lower non-utilization fee. The facility has a term of 3.25 years, with the option to extend for an additional year on the same terms.
Learn more