JLA, which is a major contracted provider of commercial laundry and catering equipment, has undergone a refinancing, following the sale of a minority interest by HgCapital to institutional investors.
HgCapital invested in the business, which is based in Ripponden, West Yorkshire, in 2010 and has helped it to keep growing. Following the sale of a minority equity stake, HgCapital retains more than 60 per cent of the equity in the company.
The refinancing was funded by banks and alternative lenders. The advisers included Deloitte and Addleshaw Goddard.